Brisbane-founded ProcurePro has raised $15 million in Series B funding led by QIC Ventures alongside Brighter Super with support from global construction giants Bouygues and existing investors AirTree and Glitch Capital.
The funding will be used to accelerate ProcurePro’s construction-focused AI product suite, whilst supporting expansion across the United Kingdom, the Middle East and North America.
By embedding directly into day-to-day procurement decision flows at the control point of subcontractor engagement, the ProcurePro platform reduces risk and enables better commercial decision-making at the point where project margins are won or lost.
The participation of Bouygues - a global construction and infrastructure group delivering large-scale projects across the world - highlights the increasing importance of procurement as a strategic control point in major projects.
Through its corporate venture arm ISAI, Bouygues is not only investing in ProcurePro but also deploying the platform within its own operations. This dual role as both investor and customer underscores the platform’s relevance at global scale and validates its ability to support complex construction environments.
ProcurePro founder and CEO Alastair Blenkin said the raise marks the next stage of the company’s global growth.
Construction firms are still managing their most critical commercial decisions and millions in spend via out-of-date and untrustworthy spreadsheets. The lack of true oversight delays risk identification which ultimately erodes margins. We built ProcurePro to bring structure, control and certainty to the commercial cockpit of construction firms.
Alastair Belkin - ProcurePro Founder & CEO
"What makes this even more powerful is the data. After years of supporting procurement across thousands of projects, we now have a rich foundation of real-world procurement data. This funding allows us to invest further in AI, where we’ll enable construction firms to estimate new project costs backed by their historical purchasing data, rather than someone’s estimate, memory, or a finger in the wind.”
QIC Ventures Investment Director Nick Capell said ProcurePro represents a compelling opportunity to back a category-defining platform at a critical control point within construction.
Procurement sits upstream of most construction spend yet remains highly manual and weakly governed. It’s a globally relevant problem that remains unsolved
Nick Capell - QIC Ventures Investment Director
"Alastair and the ProcurePro team are addressing this pain point head on by embedding directly into the workflow where cost, risk and compliance decisions are made.
“As one of the least tech enabled industries globally, construction’s move into an AI-enabled mode of working is limited by a lack of cohesive and available data sources. As ProcurePro scales, the proprietary data it captures will underpin intelligence within core procurement processes to deliver clear, measurable outcomes.”
The investment reflects QIC Ventures’ continued focus on backing high-growth, Queensland-founded technology companies with global potential, particularly those applying software and AI to transform core industry workflows.
Brighter Super CEO Kate Farrar said, “We’re excited to bring ProcurePro into our stable of Queensland-based investments. Not only do its fundamentals stack up but, as part of our Queensland Investment Strategy, ProcurePro also supports jobs, strengthens local communities and aims to deliver long-term value for our members.
Queensland’s continued population growth and the massive 2032 Olympics juggernaut will provide great local opportunities for ProcurePro, but this additional funding will help ProcurePro catch a global wave of AI-enabled opportunities across construction industries in the US, UK and beyond.
Kate Farrar - Brighter Super CEO
ProcurePro maintains a strong and growing Queensland footprint, with the majority of its R&D team based locally and plans to grow its Australian workforce over the next two years, supporting the creation of high-skilled technology roles.
The company has already demonstrated strong product-market fit in Australia, with customers including Kane Constructions, Hutchinson Builders, Richard Crookes, McNab and Hansen Yuncken using the platform to manage complex, high-value projects with greater control and consistency.
Over the past six years, ProcurePro has been deployed across 6,000 construction projects globally, worth more than $120 billion in construction value. The platform has processed more than 200,000 trade packages, creating a uniquely deep dataset of real-world procurement activity, pricing and supply chain behaviour.
That dataset now underpins ProcurePro’s AI product roadmap, including BidLevel AI, the company’s flagship intelligence tool for comparing complex subcontractor quotes. A process that traditionally takes commercial teams days, and sometimes weeks, can now be completed in minutes.
To support growth, ProcurePro will hire 100 employees globally over the next 24 months across product, engineering, and go-to-market teams. The company is establishing its first US presence while scaling existing offices in Brisbane, London and Dubai.
Image: ProcurePro Founders
