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PROCORE LANDS $75 MILLION Featured

Tooey Courtemanche, Procore TechnologiesProcore Technologies, which markets cloud-based construction software applications, has raised $75 million in funding. The Carpenteria, Calif.-based company last month said it had closed the funding round led by Tiger Global Management.

Procore said the investment values the company at $3 billion. Funds will be used in product development, partner platform expansion and hiring and developing employees, CEO and founder Tooey Courtemanche said in a prepared statement. Procore has connections to product from ERP and accounting vendors, and many non financial applications. Last year, it expanded integration with Sage 300 Construction & Real Estate while Acumatica added links to Procore. Those products are in the Procore app marketplace as are connectors for QuickBooks and Sage 100 Contractor, along with those written by Calance for J.D. Edwards, Peoplesoft and Xero. There is also integration with Microsoft Project 2003, 2007, 2010 and 2013 and Microsoft Azure and SQL Server. The company said it has 1,300 employees and would end 2018 with 5,000 customers.

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