ProcurePro, a Queensland, Australia-based procurement platform for the construction industry, has raised $6.15 million in Series A.
The funding round was backed by AirTree and Leigh Jasper, an industry expert, through his VC fund Saniel Ventures.
Founded in 2014, AirTree Ventures is a venture capital firm based in Sydney, Australia. The firm seeks to invest in Australian and New Zealand technology and software companies mainly in blockchain, software-as-a-service, marketplaces, fintech, artificial intelligence, and deep tech sectors.
ProcurePro Use of Funds
The company plans to use the capital to accelerate its growth in the UK, a key expansion market, while maintaining its leading position in Australia and New Zealand.
Co-founded by Nathan Dench, Jesse Dymond, Alastair Blenkin, Tim Rogers, and Tom Newby, ProcurePro is a developer of procurement software designed for head contractors. The platform, consolidates over 15 procurement processes into a single digital platform, offering builders visibility, consistency, and control, reducing procurement time by half. The company has already signed up projects worth nearly $600 million in the UK.
Company: Procure Pro Holdings Pty Ltd.
Round: Series A
Funding Month: January 2024
Lead Investors: AirTree and Leigh Jasper
Company Website: https://procurepro.co/
Software Category: Construction Procurement Software