Overview

Procore Technologies provides construction management software that helps improve the efficiency of construction projects. Its platform includes tools for various stages of construction, such as prequalification, bid management, estimating, quality and safety management, design coordination, and Building Information Modeling (BIM). This software allows construction teams to communicate better and manage projects more effectively, ensuring they are completed on time and within budget. Procore stands out from competitors by offering a comprehensive suite of tools and personalized support services, including training and resources tailored to different client needs. The company's goal is to enhance project efficiency and effectiveness for construction professionals around the world.

Simplify's Take

What believers are saying

• Acquisitions of Novorender and FlyPaper enhance Procore's BIM capabilities for advanced modeling.
• Integration with AI platforms like Uplimit could revolutionize training modules for construction professionals.
• Partnership with Studson highlights Procore's commitment to innovation in construction safety.

What critics are saying

• Integration of Novorender and FlyPaper may disrupt existing BIM capabilities and customer satisfaction.
• Technical challenges in integrating with Xero and QuickBooks could affect financial tool operations.
• Pressure from Proficio Capital's investment might lead to strategic shifts affecting core operations.

What makes Procore Technologies unique

• Procore offers a comprehensive suite covering all construction stages, from preconstruction to closeout.
• The platform integrates with financial software like Xero and QuickBooks for streamlined management.
• Procore's global reach includes over 1,000,000 projects in 125 countries, showcasing its scalability.

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Funding

Total Funding

$1251.7M

Above

Industry Average

Funded Over

12 Rounds

Notable Investors:

Tiger GlobalBessemer Venture Partners

Notable Investors:

Tiger GlobalBessemer Venture Partners

$634,000,000

IPO

May 2021

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Stock Price