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Yes, proceeds is playable

...and is worth 15 points.

Found in the following dictionaries

Enable (Words with friends)
SOWPODS (Collins Scrabble Words)
OTCWL2014 (NASPA Word List 2014)
TWL06 (NASPA List 2006)

"Proceeds" Definition

noun

Profits; net revenue.
Source: Wiktionary
Revenue; gross revenue.
Source: Wiktionary

verb

Third-person singular simple present indicative form of proceed.
Source: Wiktionary

noun plural

The total amount brought in .
The net amount received (as for a check or from an insurance settlement) after deduction of any discount or charges.

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