Construction

Construction software provider Procore Technologies has closed $75 million in funding led by Tiger Global at a $3 billion valuation, a triple from the previous $1 billion valuation it got after a $50 million round led by ICONIQ Capital.

Procore says it’ll make use of this funding to support product development, partner platform expansion and hiring and development of top talent. Procore has now raised over $300 million (Crunchbase) across several rounds since inception.

Procore CEO Tooey Courtemanche image : Procore

16 year old Procore currently has more than 1,300 employees working across its 12 offices around the globe, It’s exiting this year with over 5,000 customers working on construction projects in over 100 countries. Customers include Lennar, The Weitz Company, Wells Construction, Cyberco, The Beck Group, Big-D Construction and Cullison Wright.

“At Procore we’re committed to delivering products and solutions that improve the lives of everyone in the construction industry, so we will continue to invest in the core areas of our business that have direct positive impact for our users,” Procore CEO Tooey Courtemanche said in a press release. 

“We believe business drives culture, and culture drives business. This investment round will allow us to advance product innovation, expand on the largest partner and developer ecosystem in construction technology, and continue to hire and develop the best talent to support our mission and vision.”