Procore Technologies reports $50 million investment round


XDATA – December 30th 2015
Procore Technologies raised $50 million as part of a fully subscribed non-brokered equity offering. The subscription, which started almost two weeks ago, lured five investors. Two previous unregistered financing rounds raised an estimated $46.2 million.
Procore Technologies markets and develops a cloud-based construction management software application that enables construction professionals to collaborate on projects from any Internet-connected device, with access to all project documents, contracts, RFIs, submittals, schedules, and drawings via the cloud. The company is backed by Bessemer Venture Partners and ICONIQ Capital.
The company was registered in 2014 and has its headquarters located in Carpinteria CA. Procore Technologies elected to keep its revenues undisclosed.
The executive team includes Craig F Courtemanche, Robert B Reed and Steven C Zahm.
The board of directors includes Brian Feinstein and Kevin J O’Connor.

The company has raised an estimated total of $96.2 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: Procore Technologies
Industry: Other Technology
Amount offered: $50 million
Amount placed: $50 million
SEC filing: Source
First sale: 12-17-2015
Data as of: 12-29-2015
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