Bessemer Venture Partners backs Procore with $15m investment


mobile constructionBessemer Venture Partners has invested $15m in Series D capital in cloud-based construction management software provider Procore Technologies.

The company said it will use the funds to expand its suite of mobile and web-based tools for managing construction projects.

Procore’s software enables construction professionals to work on their projects and access all project documents, contracts, RFIs, submittals, schedules and drawings via any internet-connected mobile device.

BVP partner Brian Feinstein said, “The most successful vertical-focused software companies are run by entrepreneurs who spend years working to address the specific needs of their customers. Procore’s founders fit this model perfectly.

“We studied every software solution in the construction industry. It was clear to us that Procore had the leading cloud-based product for general contractors and facility owners to manage their projects.”

In March this year Bessemer led a 20m Series C financing round for legal industry cloud-based management platform Clio.

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