PROCUREPRO RAISES $15M TO DELIVER AI-POWERED PROCUREMENT CONTROL FOR CONSTRUCTION’S $18 TRILLION SUPPLY CHAIN
LONDON | BRISBANE | DUBAI - 11/05/2026
ProcurePro, the first end-to-end construction procurement platform, has secured $15 million (US$11 million) in funding led by QIC Ventures, one of Australia's largest sovereign wealth funds and a major infrastructure asset owner. The round values the company at more than $100 million.
Existing venture investors Airtree and Glitch Capital participated, alongside global construction giants Bouygues (via VC partners ISAI).
The capital will be used to accelerate ProcurePro's construction-focused AI product suite and to support continued expansion across the United Kingdom, the Middle East, and North America.
The control window most contractors can't see
Construction is an $18 trillion (US$13 trillion) global industry, and one of the least profitable, operating on slim margins of just 1 to 4 per cent. Yet the commercial outcome of a project is determined long before a spade hits the ground.
By the time procurement closes, 80% of a project's cost is already committed and the supply chain risk profile is locked in. Across the industry, that decision window is still being managed through fragmented spreadsheets, email chains and disconnected documents. The teams accountable for margin can't see clearly into the moment margin is set.
ProcurePro built the first construction-specific procurement platform to close that gap. Its platform brings the full procurement lifecycle into one system, from scheduling and tendering through to bid analysis and subcontracting, giving contractors visibility, control and certainty before contracts are signed.
ProcurePro's founders (from left to right) Nathan, Jesse, Alastair, Tim, and Tom
A dataset built from real procurement, not theory
Over the past six years, ProcurePro has been deployed across more than 6,000 construction projects globally, worth over $90 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, the company's AI bid comparison tool for evaluating complex subcontractor quotes.
A process that traditionally takes commercial teams days, and sometimes weeks, can now be completed in minutes, with a full apples-to-apples view against scope.
"Construction firms are still managing their most critical commercial decisions, and millions in spend, through out-of-date and untrustworthy spreadsheets. The lack of true oversight delays risk identification and ultimately erodes margin. We built ProcurePro to bring structure, control and certainty to the commercial cockpit of construction firms.
What makes this round 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 intelligence. 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."
— Alastair Blenkin, Founder and CEO, ProcurePro
A category-defining bet from QIC and global construction
For QIC Ventures, ProcurePro represents a backable opportunity at a control point the wider sector has so far left unsolved.
"Procurement sits upstream of construction spend yet remains highly manual and weakly governed. It's a globally relevant problem that remains unsolved. With Queensland delivering a once-in-a-generation infrastructure programme ahead of the 2032 Olympics, innovations that improve construction productivity are critical."
— Nick Capell, Investment Director, QIC Ventures
Bouygues, one of the world's largest construction groups, has seen ProcurePro deployed inside its own delivery business.
"ProcurePro is one of the first technologies we have seen that brings greater control to the full procurement journey for contractors. It has been deployed successfully on some Bouygues projects, with usage progressively developing across several business units."
— Marie-Luce Godinot, Senior Vice-President, Innovation, Sustainability and IT, Bouygues Group
A global moment, marked in London
The raise comes as ProcurePro deepens its presence in the UK. The company spent April filming a new global brand campaign across London, with branded ProcurePro taxis on the streets of the capital. It is an early signal that the category, AI-enabled procurement control, is moving into the mainstream of construction.
CEO, Alastair Blenkin, and Head of MENA, James Metcalfe, standing in front a ProcurePro-branded cab
The funding will support continued investment across product, engineering and go-to-market teams, with hiring focused on the UK, Middle East, North America and ANZ. ProcurePro is also establishing its first US presence while scaling existing offices in Brisbane, London and Dubai.
About ProcurePro
ProcurePro is the first AI-powered, end-to-end procurement control centre built for construction.
Procurement is mission-critical to the success of a project, but current methods are inefficient. ProcurePro solves this by transforming the procurement process, enabling consistency, early risk identification, and enhanced project profitability.
By consolidating 20+ fragmented processes, construction main contractors can compare, select, approve and contract with vendors on a single platform.
Connecting procurement provides unprecedented control, visibility, and faster, happier project teams to deliver high-quality projects.
About QIC
QIC is one of Australia's largest institutional investment managers, wholly owned by the Queensland Government, with more than A$130 billion in assets under management. The fund invests on behalf of institutional clients including Brighter Super, one of Queensland's leading industry superannuation funds.
About ISAI Build Venture
Created in partnership with Bouygues, ISAI Build Venture is a global investment fund that participates as a co-investor in seed to Series C rounds for startups offering solutions that accelerate the transformation and decarbonization of the construction, real estate, mobility infrastructure, and energy industries. ISAI Build Venture is a strategy of ISAI Gestion (“ISAI”), one of the pioneers of investment in French Tech created in 2009. The company is a signatory of the UNPRI and an active player in inclusive and low-carbon Tech.