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ProcurePro Secures $11M Funding to Transform Construction Procurement with AI

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ProcurePro Secures $11M Funding to Transform Construction Procurement with AI

Construction is an industry worth $13 trillion globally, yet it remains one of the least profitable on earth. Margins of between 1 and 4 per cent are the norm, and the commercial fate of most projects is sealed long before a single foundation is poured. That uncomfortable truth has just attracted serious capital.

ProcurePro, an Australian-founded software business pitching itself as the first end-to-end procurement platform built specifically for construction, has closed an $11 million (US) funding round led by QIC Ventures, the venture arm of one of Australia’s largest sovereign wealth funds and a substantial infrastructure asset owner in its own right. The round values the six-year-old company at more than $80 million.

Existing backers Airtree and Glitch Capital followed on, and were joined on the cap table by French construction heavyweight Bouygues, which invested through its corporate venture vehicle managed by ISAI. The fresh capital will be funnelled into ProcurePro’s AI roadmap and an ambitious push into the United Kingdom, the Middle East and North America.

The thesis is straightforward, if uncomfortable for an industry not known for its appetite for change. By the time a contractor breaks ground, roughly 80 per cent of project costs have already been committed and the bulk of supply chain risk is baked in. Yet across the sector, that critical procurement stage is still largely run on a patchwork of spreadsheets, email threads and disconnected PDFs — a state of affairs that would be unrecognisable in almost any other industry handling sums of comparable size.

ProcurePro’s response is to pull the full procurement lifecycle, scheduling, tendering, bid analysis and subcontracting, into a single system designed to give commercial teams genuine oversight before pen hits paper. Over the past six years, the platform has been used on 6,000 construction projects worldwide, representing more than $90 billion in build value, and has handled in excess of 200,000 trade packages.

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That accumulated dataset is now the company’s strategic moat. It underpins BidLevel AI, ProcurePro’s flagship tool for comparing complex subcontractor quotes, a job that has traditionally swallowed days or even weeks of commercial managers’ time, and which the platform claims to compress into minutes.

Alastair Blenkin, founder and chief executive of ProcurePro, said the raise opens the next chapter of the company’s international growth. “Construction firms are still managing their most critical commercial decisions and millions in spend via out-of-date and untrustworthy spreadsheets,” he said. “The lack of true oversight delays risk identification, which ultimately erodes margins. We built ProcurePro to bring structure, control and certainty to the commercial cockpit of construction firms.”

Blenkin is unsubtle about the prize. “After years of supporting procurement across thousands of projects, we now have a rich foundation of real-world procurement data. This funding allows us to invest further in AI, where we’ll enable construction firms to estimate new project costs backed by their historical purchasing data, rather than someone’s estimate, memory, or a finger in the wind.”

Nick Capell, investment director at QIC Ventures, framed the deal in industrial-policy terms. “Procurement sits upstream of construction spend, yet remains highly manual and weakly governed. It’s a globally relevant problem that remains unsolved,” he said. “With Queensland delivering a once-in-a-generation infrastructure programme ahead of the 2032 Olympics, innovations that improve construction productivity are critical.”

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For Bouygues, the appeal is more operational. Marie-Luce Godinot, the group’s senior vice-president for innovation, sustainability and IT, said ProcurePro had already proved itself on live sites. “ProcurePro is one of the first technologies we have seen that brings greater control to the full procurement journey for contractors. It has been deployed successfully on some Bouygues projects, with usage progressively developing across several business units.”

For UK contractors and their SME subcontractor base, the more immediate consequence is staffing. ProcurePro plans to hire 100 people globally over the next two years across product, engineering and go-to-market roles, with its London office among those being scaled alongside Brisbane and Dubai. A first US base is also on the cards.

Whether the platform proves to be the productivity catalyst its backers describe will ultimately be decided on building sites rather than in pitch decks. But after years of construction being singled out as the laggard of the digital economy, the level of conviction now being shown by sovereign wealth, tier-one contractors and specialist venture investors suggests the sector’s spreadsheet era may finally be drawing to a close.


Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

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Cellular Intelligence acquires Novo Nordisk’s Parkinson’s cell therapy

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Fragile Health and Missing Medication Raise Grave Concerns for 84-Year-Old

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Nancy Guthrie

TUCSON, Ariz. — Nearly 100 days after her suspected abduction from her Catalina Foothills home, Nancy Guthrie’s fragile medical condition continues to heighten fears for the 84-year-old mother of “Today” co-anchor Savannah Guthrie, with experts warning that the lack of critical daily medications and her reliance on a pacemaker could prove life-threatening.

Nancy was taken in the early hours of Feb. 1, 2026, in what authorities describe as a targeted kidnapping. She left behind her phone, medications, and other essentials after a struggle that left bloodstains confirmed to be hers at the scene. Her pacemaker stopped syncing with her devices around 2 a.m., adding urgency to concerns about her cardiac health.

Critical medical vulnerabilities

Nancy suffers from high blood pressure, cardiac issues requiring a pacemaker, and significant mobility limitations. She needs daily medications for hypertension, blood thinners, and anti-arrhythmic drugs. Law enforcement has repeatedly stressed that missing these medications for more than 24 hours could be fatal.

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Cardiologists and emergency physicians consulted on the case have painted a dire picture. Without her regular regimen, Nancy faces risks of irregular heart rhythms, blood clots, severe hypertension spikes, or heart failure. The pacemaker helps regulate her heartbeat, but stress from the abduction — potentially including a violent struggle — could have triggered complications.

Sleep experts have raised additional alarms. If awakened abruptly around 2 a.m. during the suspected kidnapping, Nancy may have experienced sleep inertia — a disoriented state that, combined with her heart condition, could have elevated her risk of a heart attack. Experts note elderly patients with pacemakers are particularly vulnerable in such scenarios.

Her limited mobility compounds the danger. Family members describe Nancy as sharp-minded but physically frail, often in significant back pain and unable to walk far even on good days. Taken barefoot in pajamas without shoes or supportive aids, she would have struggled in any prolonged captivity or harsh environment.

Family and expert fears

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Savannah Guthrie and her siblings have made emotional public appeals, repeatedly highlighting their mother’s urgent need for medication. On Mother’s Day, Savannah posted a heartfelt tribute urging anyone with information to come forward, emphasizing the family’s unwavering hope while acknowledging the medical realities.

Forensic and behavioral experts suggest the kidnappers may not have fully understood Nancy’s fragility. Some theorize that if she suffered a medical episode, captors could have abandoned her or disposed of her body when she was no longer “of value” for ransom. Declining ransom demands in reported notes have fueled speculation that her health may have deteriorated rapidly.

Investigation ongoing amid medical uncertainty

Pima County Sheriff’s Office and the FBI continue treating the case as an active abduction. Blood evidence, mixed DNA samples, and doorbell camera footage remain key pieces. A recent discovery of prehistoric human remains near the home briefly raised hopes before being ruled unrelated.

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No suspects have been named, and ransom notes’ authenticity remains under review. The $1 million family reward stays active, with authorities pleading for tips. Elizabeth Smart, a survivor of prolonged abduction, has offered public encouragement, noting that hope can persist even in long cases.

Potential health scenarios

If Nancy remains alive and held captive, experts warn of cascading risks: dehydration, infection from untreated conditions, cardiac events, or mobility-related complications like blood clots from immobility. Without her pacemaker’s remote monitoring and daily meds, even short-term captivity could lead to irreversible damage.

If she was released or escaped early, her condition would still make survival challenging without immediate medical intervention. The desert environment around Tucson adds environmental stressors like temperature extremes.

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Family’s resilience and public appeals

The Guthrie family has balanced private grief with public advocacy. Savannah returned to the “Today” anchor desk in April after time away but continues sharing emotional updates. The family’s message remains consistent: Nancy is a beloved mother, grandmother, and community member who needs her medication and deserves to come home.

As the case nears the 100-day mark, the intersection of law enforcement efforts and medical urgency underscores the race against time. Every day without resolution amplifies concerns about Nancy’s deteriorating health.

Broader lessons

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The case has spotlighted vulnerabilities of elderly individuals living alone, the importance of home security, and rapid response in missing persons cases involving medical needs. It has also fueled conversations about media coverage disparities and community support for long-term searches.

Anyone with information is urged to contact the FBI tip line at 1-800-CALL-FBI or submit anonymously. The family and investigators continue hoping for Nancy’s safe return despite the medical challenges that make every passing day more critical.

Nancy Guthrie’s story is a painful reminder of how quickly life can change — and how medical conditions can transform an already harrowing situation into one of life-or-death urgency. Her loved ones and authorities refuse to give up, holding onto the possibility that she can still be brought home.

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Heathrow sees passenger dip amid Iran conflict

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Heathrow sees passenger dip amid Iran conflict

The west London airport said 6.7 million passengers travelled through Heathrow in April.

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Pre-Season Leg Laceration Required 24 Stitches but Driver Missed No Races in 2026

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Kyle Busch

CHARLOTTE, N.C. — Two-time NASCAR Cup Series champion Kyle Busch revealed in March that he suffered a gruesome leg injury just days before the start of the 2026 season, requiring 24 stitches after a freak accident at home, yet powered through to compete in every race so far this year for Richard Childress Racing.

Kyle Busch
Kyle Busch

Busch detailed the scary incident on his wife Samantha Busch’s “Certified Oversharer” podcast, describing how a stool collapsed while he was fixing a smoke detector, causing a deep laceration on his right leg that left him bleeding profusely. The 44-year-old driver was rushed to the hospital around midnight and spent more than three hours receiving emergency treatment.

“I look down and it’s not like you’re bleeding like a nosebleed. It is like pouring, like you’re gushing,” Busch recalled. Samantha drove him to the hospital with his leg propped up on the dashboard covered in towels. Doctors confirmed the cut sliced through fat but missed the muscle.

Near miss for 2026 season opener

The injury occurred shortly before the Cook Out Clash at Bowman Gray Stadium, raising immediate doubts about Busch’s availability for the season. Despite significant pain and blood loss, he recovered quickly enough to qualify on pole for the Daytona 500 — the first time in his career — and has not missed a Cup Series start in 2026.

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Busch later laughed about the incident in interviews, downplaying its severity with his trademark humor: “Just sliced the fat, folks. Didn’t even get a muscle.” The story has since gone viral among NASCAR fans, who praised his toughness and dedication.

Recent on-track incidents spark new concerns

While the pre-season leg injury has healed, Busch has faced additional physical demands from on-track action. In early May at Texas Motor Speedway, he was involved in a late-race wreck with John Hunter Nemechek that drew NASCAR review but caused no reported injuries. At Watkins Glen, he was heard requesting medical attention post-race, though details remain limited and he has continued competing without missing events.

Busch’s ability to race through discomfort reflects his veteran experience and reputation as one of NASCAR’s toughest competitors. His 2015 Daytona crash, which resulted in compound fractures to both legs, remains a benchmark for his resilience after a remarkable recovery and eventual championships.

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Impact on performance and team

Despite the early-season setback, Busch has remained competitive in the No. 8 Chevrolet for RCR. While wins have been elusive in 2026 so far, consistent finishes have kept him in playoff contention. The team has adapted around any lingering effects from the leg injury, focusing on car setup and strategy.

Samantha Busch has been vocal in supporting her husband, sharing insights into the family’s experience during his recovery period. The couple’s openness has humanized the high-risk world of NASCAR for fans.

NASCAR’s physical demands

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Stock car racing places enormous strain on drivers’ bodies, with G-forces, heat, and crash impacts testing endurance. Injuries like Busch’s highlight the hidden risks even off the track. NASCAR’s safety protocols continue evolving, but drivers often push through pain to stay in championship hunts.

Experts note that deep lacerations carry risks of infection and mobility issues, yet Busch’s rapid return demonstrates elite fitness and medical support. His story serves as inspiration for athletes facing setbacks.

Fan and media reaction

The podcast revelation sparked widespread discussion across social media and NASCAR forums. Fans expressed admiration for Busch’s grit, with many sharing stories of their own injuries. The incident has also renewed conversations about driver safety and the mental toughness required in the sport.

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As the 2026 season progresses, Busch remains a central figure. His experience, combined with RCR’s resources, positions him for strong runs as the playoffs approach. Any lingering effects from the leg injury appear minimal, though the physical toll of racing accumulates over time.

Looking ahead

Busch has shown no signs of slowing despite turning 44 and dealing with the off-season scare. His focus remains on winning races and contending for a third championship. The remainder of 2026 will test his endurance, but early indications suggest the veteran is as determined as ever.

For NASCAR fans, Kyle Busch’s injury story adds another layer to his legacy — not just as a champion, but as a driver who refuses to let setbacks define him. Whether battling on the track or recovering from unexpected home accidents, “Rowdy” continues proving why he remains one of the sport’s most compelling figures.

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As the season unfolds, all eyes stay on Busch — watching to see if his resilience translates into more victories and another deep playoff run.

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Busselton holiday park sold, another on the market

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Busselton holiday park sold, another on the market

Avocado famer Russell Delroy has added a Geographe Bay holiday park to his asset base, with the $9.8 million purchase preceding another property’s listing.

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Priority Tech earnings beat by $0.09, revenue topped estimates

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German energy giant E.ON agrees deal to buy Stephen Fitzpatrick’s Ovo Energy

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The agreement is subject to regulatory approvals but would create one of the UK’s biggest household suppliers

Ovo was founded by Stephen Fitzpatrick

Ovo is headquartered in Bristol(Image: Ovo)

Bristol-headquartered energy firm Ovo has agreed to sell its UK energy retail business to European giant E.ON, subject to regulatory approval. The German supplier said on Monday (May 11) the transaction represented “a significant investment” in the UK market and was about “accelerating consumer energy flexibility”.

Ovo and E.ON will continue to operate as separate companies until the approval process completes, which is expected to be in the second half of the year.

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Chris Norbury, chief executive of E.ON UK, said: “For decades the UK energy system focused too much on those upstream. Now is our opportunity to change that. Solar, batteries, EVs and a retailer built to orchestrate. That is what this deal is about: customers in control and new energy that works for everyone.”

It is understood that for customers of E.ON Next and Ovo there will be no change during the regulatory review period and existing tariffs will be “honoured in full” while services will continue unchanged.

“Bringing Ovo together with E.ON is the right next step for customers, for colleagues, and for the long-term commitment that decarbonisation requires,” Stephen Fitzpatrick, founder of Ovo, said.

On completion of the deal, E.ON said it would continue the existing licence agreement with energy intelligence platform Kaluza in respect of OVO’s customer base. The parties will also evaluate the potential adoption of Kaluza across the wider E.ON group outside of the UK, the company said.

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Mr Norbury added: “It is not about scale for its own sake. It is about building a retailer with the capability, the technology and the customer base to make new energy work for everyone. We chose Ovo because it’s a modern digitally native business with great people and a shared belief that innovation is what can make energy affordable and sustainable for everyone.”

Elsewhere Ovo has also agreed a deal to sell its boiler insurance and servicing arm – Home Services – to Hometree, subject to regulatory approval. It is understood Ovo will work closely with E.ON and Hometree through the regulatory process.

Ovo was established by Mr Fitzpatrick – also founder of Bristol ‘flying taxi’ company Vertical Aerospace – in 2009 as a disrupter to the legacy ‘big six’ companies.

Today, Ovo is one of the biggest energy firms in the UK, with some four million customers. In 2019, the business snapped up SSE’s household energy and related services business for £500m in a bid to accelerate its expansion plans. But by 2022, as the industry was hit by a gas price crisis, the business was forced to cut nearly a quarter of jobs from its workforce.

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In December last year, Ovo confirmed it was consulting on another 200 roles as part of proposals submitted to industry watchdog Ofgem to prove it complies with new financial standards.

“We’re making changes that bring us closer to customers and sharpen our focus as an energy retailer,” Ovo said at the time.

“Our actions will help us build a stronger, more resilient business that better serves our customers and meets regulatory requirements. Where roles are affected, we will consult fully and support colleagues throughout.”

The news came just a month after the company’s chief executive, David Buttress – a former boss of Just Eat – announced he was stepping down from the business after just 18 months.

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Mizuho raises Fluence Energy stock price target on data center growth potential

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