Construction Tech Company Procore Closes $75 Million Funding Round
Procore Technologies, Inc., a leading provider of cloud-based applications for construction, today announced that it has closed $75 million of funding in a round led by Tiger Global Management.
This round, which values the company at $3 billion, will be leveraged to support product development, partner platform expansion, and continued investment in hiring and developing top talent.
“At Procore we’re committed to delivering products and solutions that improve the lives of everyone in the construction industry, so we will continue to invest in the core areas of our business that have direct positive impact for our users,” said Tooey Courtemanche, founder and CEO, Procore. “We believe business drives culture, and culture drives business. This investment round will allow us to advance product innovation, expand on the largest partner and developer ecosystem in construction technology, and continue to hire and develop the best talent to support our mission and vision.”
Procore currently has over 1,300 full-time employees working across 12 offices around the globe, and will exit the year with more than 5,000 customers on projects in over 100 countries. The company was recently recognized as the fourth best place to work in the United States, according to Glassdoor’s 2019 Best Places to Work.
Procore is a leading provider of cloud-based applications for construction. Procore connects people, applications, and devices through a unified platform to help construction professionals manage risk and build quality projects—safely, on time, and within budget. Procore has a diversified business model with products for Project Management, Construction Financials, Quality & Safety, and Field Productivity. Headquartered in Carpinteria, California, with offices around the globe, Procore is used to manage billions of dollars in annual construction volume.
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