Brisbane-based startup ProcurePro has successfully raised US$11 million in a funding round led by QIC Ventures, with significant participation from French construction giant Bouygues, transitioning from a customer to an investor. This investment values the six-year-old company at over US$80 million. ProcurePro, which offers a comprehensive software platform for construction procurement, plans to expand its team by 100 employees over the next two years and establish its first US office while enhancing operations in Brisbane, London, and Dubai. The company has already been implemented in over 6,000 projects worldwide. CEO Alastair Blenkin highlights the potential of utilizing their extensive procurement data to develop AI-driven solutions for estimating project costs more accurately. The investment from Bouygues, facilitated through ISAI, marks a significant endorsement of ProcurePro’s capabilities and future potential in improving construction productivity, especially as Queensland gears up for major infrastructure projects ahead of the 2032 Olympics.
Has Bouygues transitioned from customer to investor in ProcurePro?
