Procore Raises $75 Million in New Funding

Procore, a startup that provides cloud-based construction management software, has announced it has $75 million in new funding in the bank, thanks to an investment from Tiger Global Management and other  investors.

The company is valued at $3 billion.

“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,” said Procore CEO and Founder, Tooey Courtemanche, in a statement. “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.”

With this round, Procore plans to grow product development, partner platform expansion, new hiring and luring top talent to the company.

Procore currently has 1,300 employees in 13 states.

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