ProcurePro closes $6.15m raise led by AirTree Ventures, Saniel Ventures

The news: Construction procurement platform ProcurePro has raised $6.15 million in a funding round led by AirTree Ventures and Aconex co-founder Leigh Jasper's Saniel Ventures.

The numbers: ProcurePro claims to have automated more than 200,000 hours of procurement tasks in the construction industry to date. In the two years since its launch, ProcurePro says it is delivering over $30 billion in construction value across more than 1000 projects, with contractors including Roberts Co, Hutchinson Builders, Hansen Yuncken, Richard Crookes Constructions, Kane Construction, and McNab.

The context: Founded in Brisbane in 2021, ProcurePro now employs a team of over 40 staff across Australia and New Zealand. The company says the capital from its first venture round will help accelerate growth in the UK as a key expansion market, with operations already live across £300 million ($579 million) worth of projects there.

What they said: AirTree Ventures partner John Henderson said: “After doing a deep dive into the construction space, we found an industry grappling with disrupted supply chains, rapidly increasing operational costs and painful procurement processes; in other words, ready for ProcurePro. They’ve already got global momentum in a greenfield market backed up by best-in-class SaaS metrics, making for an exciting journey ahead, which we’re privileged to be joining them on.”