ProcurePro raises $11m to scale AI procurement tools for construction
Brisbane-founded platform plans expansion across the UK, Middle East and North America as contractors look to control costs earlier in the project cycle
12 May 2026 | editor@breakingground.news
Construction procurement platform ProcurePro has raised US$11 million to expand its AI-powered technology across international markets.
The funding round was led by QIC Ventures, with participation from Airtree, Glitch Capital and Bouygues through its venture capital fund managed by ISAI. The Brisbane-founded company said the round values the business at more than US$80 million.
ProcurePro said the investment will support the development of its AI product suite and fund expansion across the UK, the Middle East and North America.
The company provides an end-to-end procurement platform for contractors, covering scheduling, tendering, bid analysis and subcontracting.
It said the construction sector continues to operate on tight margins, typically between 1% and 4%, while up to 80% of project costs are already committed at procurement stage.
ProcurePro said many contractors still manage procurement through spreadsheets, email chains and disconnected documents, despite the commercial risks involved.
Founder and chief executive Alastair Blenkin said the sector’s procurement systems remain outdated.
“Construction firms are still managing their most critical commercial decisions and millions in spend via out-of-date and untrustworthy spreadsheets,” he said.
“The lack of true oversight delays risk identification which ultimately erodes margins.”
ProcurePro said its platform has been used on more than 6,000 construction projects globally, representing over US$90 billion in construction value.
The company has processed more than 200,000 trade packages, creating a dataset of procurement activity, pricing and supply chain behaviour.
That data is being used to develop AI tools including BidLevel AI, which compares complex subcontractor quotes.
Mr Blenkin said the funding would allow the company to build tools that help contractors estimate project costs using historical purchasing data.
QIC Ventures investment director Nick Capell said procurement remains a critical but weakly governed part of construction delivery.
“Procurement sits upstream of construction spend yet remains highly manual and weakly governed,” he said.
ProcurePro said it will hire 100 employees globally over the next 24 months across product, engineering and commercial teams.
The company is also establishing its first US presence while expanding its offices in Brisbane, London and Dubai.
