Procore

Rank#2362

Market Cap7.85B

CountryUnited States

Summary

Procore Technologies, Inc. provides a cloud-based construction management platform and related software products in the United States and internationally. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Management, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office. The company also provides Resource Management that helps contractors to schedule, track, and forecast labor productivity, enhance time management, communication with workforces, and manage profitability on construction projects; and Financial Management, which provides customers with visibility into the financial health of their individual construction projects and portfolios, as well as facilitates untethered access to financial data, linking the field, and the office in real-time. It serves owners, general contractors, and specialty contractors operating in the commercial, residential, industrial, and infrastructure segments of the construction industry. The company primarily sells subscriptions to access its products on computers, smartphones, and tablets through any web browser or from its mobile application available for iOS and Android platforms through its direct sales team. Procore Technologies, Inc. was incorporated in 2002 and is headquartered in Carpinteria, California.

History

Founder and CEO Craig "Tooey" Courtemanche created the software that became Procore as a response to his struggles to manage the construction of his new home in Santa Barbara, from his then-home in Silicon Valley. The app he built tracked the activity of the workers onsite. Founded in 2002, the company was originally headquartered in Montecito, California. Steve Zahm, founder of the e-learning company DigitalThink, joined Procore as president in 2004.Procore's revenue in 2012 was $4.8 million. In 2020, it was $400 million.The company initially filed to go public in 2019, with plans to launch the IPO in 2020, but delayed the offering due to the coronavirus pandemic. Procore stock began trading under stock ticker PCOR on May 20, 2021 at $67 per share. The initial public offering raised $634.5 million. Following the IPO, the company was valued at nearly $11 billion. As of May 2021, the company has over 10,000 customers, and over 1.6 million users of its products in more than 125 countries.Procore's campus is on a 9-acre oceanfront property in Carpinteria, California.

Mission

Our mission improves the lives of those in construction, but it's so much more than that. Our technology helps build hospitals, community centers, stadiums, roadways and more. It helps our customers do their work faster and safer while reducing budgets and improving sustainability. This broad impact is what drives us forward.

Vision

Building the Software that Builds the World.

References

https://en.wikipedia.org/wiki/Procore

https://in.investing.com/equities/procore-technologies

https://finance.yahoo.com/quote/PCOR/profile?p=PCOR

https://www.comparably.com/companies/procore-technologies/mission

https://www.crunchbase.com/organization/procore-technologies

https://sec.report/CIK/0001611052

https://companiesmarketcap.com/

https://www.procore.com

Leadership team