
Total amount raised
$654 Millions
Latest funding date

Location
Procore has successfully raised significant funding through multiple rounds, including a recent Post-IPO Secondary round. The platform offers comprehensive construction management software designed to streamline project execution and management tasks.
Keep reading to explore the intricacies of Procore's fundraising journey and the investors backing this innovative platform.
What Is Procore?
Procore, founded in 2002 by Craig "Tooey" Courtemanche, is headquartered in Carpinteria, California. The company specializes in cloud-based construction management software designed to streamline project execution and management tasks.
Procore's platform connects all stakeholders on a project, offering solutions for preconstruction, project execution, resource management, financial management, and construction intelligence. This comprehensive approach helps improve project efficiency, reduce errors, and enhance collaboration among project stakeholders.
With a workforce of 1001-5000 employees, Procore continues to advance the construction industry by driving technology innovation and building a global community of groundbreakers.
How Much Funding Has Procore Raised?
- Post-IPO Secondary
- Amount Raised: $4.1M
- Date: September 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to existing shareholders.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: July 2020
- Lead Investors: 12 West Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To offer liquidity to early investors and employees.
- Series I
- Amount Raised: $1M
- Date: May 2020
- Lead Investors: Global Secure Invest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and expansion.
- Venture Round
- Amount Raised: $150M
- Date: May 2020
- Lead Investors: D1 Capital Partners
- Valuation at Round: $5B
- Motivation Behind the Round: To navigate the economic downturn caused by the COVID-19 crisis.
- Series I
- Amount Raised: $94.9M
- Date: September 2019
- Lead Investors: ICONIQ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and market expansion.
- Series H
- Amount Raised: $97.9M
- Date: July 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support scaling operations and market reach.
- Series H
- Amount Raised: $75M
- Date: December 2018
- Lead Investors: Tiger Global Management
- Valuation at Round: Nearly $3B
- Motivation Behind the Round: To further accelerate growth and market penetration.
- Secondary Market
- Amount Raised: $50M
- Date: June 2017
- Lead Investors: Dragoneer Investment Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series H
- Amount Raised: Not publicly disclosed
- Date: February 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth initiatives.
- Series G
- Amount Raised: $50M
- Date: December 2016
- Lead Investors: ICONIQ Growth
- Valuation at Round: $1B
- Motivation Behind the Round: To support the company's growth and expansion.
Total Amount Raised: $522.9M. Current Valuation: $5B.
Key Investors
- D1 Capital Partners
- Details: Founded by Dan Sundheim, D1 Capital Partners is a global investment firm. It focuses on both public and private markets.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Procore, SpaceX, Stripe.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that deploys capital globally in both public and private markets. It was founded in 2001 by Chase Coleman.
- Investment Focus Areas: Technology, software, internet.
- Notable Investments: Procore, Facebook, LinkedIn.
- ICONIQ Capital
- Details: ICONIQ Capital is a privately-held investment firm and merchant bank. It serves influential families and organizations.
- Investment Focus Areas: Technology, growth-stage companies.
- Notable Investments: Procore, Uber, Airbnb.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a venture capital firm that invests in early-stage and growth-stage companies. It has a history dating back to 1911.
- Investment Focus Areas: Technology, SaaS, healthcare.
- Notable Investments: Procore, Pinterest, Shopify.
- Lumia Capital
- Details: Lumia Capital is a venture capital firm that partners with technology companies in growth markets. It focuses on helping companies scale globally.
- Investment Focus Areas: Technology, growth-stage companies.
- Notable Investments: Procore, Greenhouse, OpenDNS.
What's Next for Procore?
Procore stands at the cusp of significant growth opportunities. With the construction tech industry booming, the company can expand its product offerings and increase the annual construction volume on its platform. This growth potential is underscored by Procore's impressive surge in annual recurring revenue, which has skyrocketed from under $10 million in 2014 to over $250 million by 2019.
Future fundraising opportunities remain promising. Procore could still pursue an IPO if market conditions stabilize, providing a substantial fundraising avenue. However, the company faces challenges such as achieving profitability and navigating potential downturns in the construction industry, which could impact spending on construction projects.
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