Brisbane-based startup ProcurePro has closed an $11 million funding round led by QIC Ventures, with key customer-turned-investor Bouygues joining alongside existing backers. The capital will fuel AI innovations and scaling efforts across multiple continents.
- ProcurePro valued above $80M, serving 6,000+ global projects
- Bouygues invests after using ProcurePro on multiple projects
- Funding targeted at AI development and international expansion
What happened
ProcurePro has completed an $11 million funding round led by QIC Ventures, with participation from existing investors AirTree and Glitch Capital, as well as French construction giant Bouygues. Bouygues, already a customer of ProcurePro’s procurement platform, invested through a Paris-based venture vehicle managed by ISAI. The round values the six-year-old company at over $80 million.
ProcurePro intends to use the new capital to support ambitious growth plans, aiming to hire 100 new employees over the next two years across product development, engineering, and go-to-market functions. The company is also preparing to open its first US office and expand its existing locations in Brisbane, London, and Dubai.
Why it matters
ProcurePro’s platform unifies the complex procurement lifecycle in construction, from scheduling and tendering to bid analysis and subcontracting. This replaces inefficient workflows involving spreadsheets, emails, and scattered documents. Around 80% of project costs are determined during procurement, making it a strategic leverage point for improving construction efficiency.
The investment underscores a growing interest in tackling inefficiencies upstream in the construction process. With Queensland preparing for a major infrastructure boom ahead of the 2032 Olympics, local investor QIC Ventures highlights the importance of innovations that boost productivity. Bouygues’ move from customer to investor signals strong confidence in ProcurePro’s technology and business model.
What to watch next
ProcurePro plans to leverage its vast procurement data to advance a new AI roadmap that will enable construction firms to generate more accurate project cost estimates, based on historical purchasing data instead of traditional guesses. This AI-driven approach aims to reduce risk and increase forecasting precision in project planning.
Expansion efforts will focus on scaling operations globally, particularly with the launch of a US office, alongside continued growth in Brisbane, London, and Dubai. The recruitment of top talent and sustained product innovation will be critical to capturing market share in enterprise construction SaaS solutions worldwide.