Procore Technologies, a provider of software to manage construction projects, is now worth $3 billion thanks to a new $75 million round of funding led by Tiger Global Management.
The new funding shows just how completely software has eaten the world.
Once considered an industry that was too analog to ever reap the benefits of technology’s management tools, software and services for the construction industry have seen some big exits and big money come in over the past three years.
Unicorns abound among the companies that are trying to serve various aspects of the construction industry.
Softbank kicked off 2018 by investing $865 million in Katerra — one of many early mega-deals from the firm’s giant Vision Fund — which touts itself as a one-stop shop for everything from planning to permitting to filling new building construction.
In November, another software developer which was contending for the construction market, Plangrid, was acquired by Autodesk in an $875 million transaction.