ProcurePro, a Brisbane-based construction technology company, has successfully raised funds in a recent funding round aimed at accelerating its growth plans in Australia and internationally. The funding round attracted various local construction industry executives, including Geoff Tarrant, co-founder of Payapps, a progressive payments fintech in the construction sector, as well as investors from Australia and the United States.
Founded by Alastair Blenkin in 2020, ProcurePro addresses the challenges faced in complex enterprise contracting environments, where reaching agreements is often a slow and costly process. Blenkin’s own experiences led him to develop a platform that simplifies contract management, a process that is still predominantly manual, relying on tools such as Word, Excel, and email, and heavily dependent on the skills and competency of individuals involved.
The software as a service (SaaS) solution offered by ProcurePro enables construction firms to digitally transform their contract management processes. By utilizing a single platform, companies can compare, select, approve, and contract with subcontractors more efficiently. The ProcurePro platform streamlines subcontractor procurement, eliminating the manual, time-consuming, and expensive aspects of the process.
Blenkin explained that the platform consolidates all information related to subcontractor agreements, scopes of work, scheduling, and procurement milestones in one central location. This allows construction firms to easily track the status of subcontracted work within a project, enhancing staff experience and retention by reducing time spent on paperwork and enabling greater focus on project delivery and quality.
Now, Blenkin’s primary objective is to expand ProcurePro’s tech platform beyond Australia and into the vast international construction industry. He expressed enthusiasm about the opportunity, stating, “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.”
ProcurePro launched its platform in April of this year and has already been utilized on over 50 construction projects. Alison Mirams, CEO of Roberts Co., praised the effectiveness of ProcurePro, emphasizing that it has significantly simplified their project teams’ work. Mirams highlighted the crucial role of innovation and technology in their business’s efficiency and growth, noting that the platform enables streamlined processes, allowing employees to strike a better work-life balance.