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Brisbane-based construction tech startup ProcurePro has successfully raised $2.6 million in a seed funding round, with backing from prominent industry executives and investors from Australia and the US.
Notable contributors include Geoff Tarrant, co-founder of construction fintech Payapps, and several other investors aligned with the construction sector. The funds will fuel ProcurePro’s ambitious plans for both domestic and international growth.
Founded in 2020 by CEO Alastair Blenkin, ProcurePro addresses the inefficiencies Blenkin observed in complex contract management processes. Traditional approaches, often reliant on Word, Excel, and email, leave construction firms bogged down by manual tasks and vulnerable to human error.
ProcurePro streamlines subcontractor procurement by digitising workflows, enabling builders to compare, select, approve, and manage subcontractors in one centralised system.
“The ProcurePro platform overcomes the complexities of subcontractor procurement, which can be highly manual, time-consuming, and expensive,” said Blenkin.
“It keeps all of the information related to subcontractor agreements, scopes of work, scheduling, and procurement milestones in one place, helping construction firms easily keep track of the status of subcontracted work related to a project. This improves staff experience and retention with less time spent completing paperwork and more time focusing on the delivery and quality of the project.”
The platform has already been adopted on over 50 construction projects, with users like Roberts Co. CEO, Alison Mirams, praising the technology for its impact on efficiency.
“Since launching Roberts Co, innovation and technology have played a significant role in our business efficiency and growth,” she said. “Importantly, it allows us to create the most streamlined processes for our teams, giving our people time for their personal lives.”
With the new funding, ProcurePro is now looking to scale its platform internationally. "Together with our Australian and international investors, we’re excited about taking ProcurePro from Australia into much larger global markets, where the same problems exist," Blenkin added.
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