ProcurePro has announced a funding round of A$6.15 million, led by AirTree Ventures and Aconex Co-Founder Leigh Jasper’s Saniel Ventures.
Approximately 80% of Head Contractors’ project costs are spent procuring specialist subcontractors. In a volatile market where costs inflate due to materials or labour shortages, speed to subcontracting is key to avoiding cost escalation.
ProcurePro enables construction firms to take control of their supply chain by consolidating 15+
fragmented procurement processes traditionally managed with Excel, Word and 1000s of emails, into a single paperless platform. With a centralised and more efficient process, builders are gaining visibility, consistency and control - resulting in 50% faster procurement.
Alastair Blenkin, ProcurePro Founder & CEO said, “We’re on a mission to save one billion hours in unnecessary construction administration and are proud to have redefined how the industry works. To date we’ve automated 200,000+ hours of procurement tasks, a figure which grows exponentially each day.”
The capital raised from ProcurePro’s first venture round will help accelerate growth in the UK as a key expansion market, and cement its market-leading position across Australia and New Zealand.
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Image: ProcurePro founders, from left-to-right, Nathan Dench, Jesse Dymond, Alastair Blenkin, Tim Rogers and Tom Newby.