Procore
| Company type | Public |
|---|---|
| Industry | Construction management software |
| Founded | 2002 |
| Founder | Craig "Tooey" Courtemanche |
| Headquarters | Carpinteria, California , United States |
Area served | Worldwide |
Key people | Craig "Tooey" Courtemanche (Founder and CEO), Steve Zahm (President) |
| Products | Construction management software platform, Procore Copilot, Procore Agents |
Number of employees | 4000 (2023) |
| Website | www |
Procore Technologies is a U.S.-based provider of construction management software delivered as a service, established in 2002 and headquartered in Carpinteria, California. The company offers a worldwide platform that connects various participants in the construction sector, streamlining processes by integrating project oversight, task coordination, and scheduling into a single system.
History
Craig "Tooey" Courtemanche, the founder and CEO, transitioned from his background as a carpenter and real estate developer to technology entrepreneurship by creating Procore during the construction of his own residence in Santa Barbara. The platform was developed with the goal of enhancing management efficiency within construction workflows. Since its inception in Carpinteria in 2002, Steve Zahm—known for founding the e-learning firm DigitalThink—joined Procore as president in 2004.
Revenue escalated significantly, rising from $4.8 million in 2012 to $400 million by 2020, with forecasts estimating growth to about $1 billion by 2024. Although an initial public offering was scheduled for 2020, it was deferred due to the COVID-19 crisis. The company eventually went public on May 20, 2021, trading under the symbol PCOR, successfully raising $634.5 million and achieving a valuation close to $11 billion. At that time, Procore supported over 10,000 clients and more than 2 million users spanning over 150 countries.
Procore’s primary headquarters is situated on a nine-acre oceanfront site in Carpinteria. By 2023, the company had expanded its global footprint with ten offices distributed across North America, Asia, and Europe, employing around 4,000 staff members.
Investors and acquisitions
In 2014, Bessemer Venture Partners spearheaded a $15 million funding round. The following year, Procore secured an additional $30 million investment led by Bessemer and Iconiq Capital, which valued the company at $500 million. A $50 million financing round led by Iconiq in 2016 elevated Procore’s valuation to $1 billion. Additional capital injections included $75 million in 2018 and upwards of $150 million in 2020, amounting to nearly half a billion dollars raised from 2007 through the IPO in 2021.
The firm has grown through strategic acquisitions such as Honest Buildings (2019), Esticom (2020), and AI-focused construction companies Avata Intelligence (2020) and INDUS.AI (2021), broadening its technology offerings and market presence.
Software
Procore delivers an all-encompassing construction management solution designed for owners, general contractors, and specialty contractors alike. Its integrated platform addresses stages including preconstruction, project oversight, workforce and financial administration, alongside data analytics. Additionally, the company facilitates third-party application integration through its App Marketplace.
Utilizing artificial intelligence innovations, Procore has launched features like Procore Copilot—a generative AI tool for summarizing documents—and Procore Agents that automate key workflows such as RFIs, scheduling, and submittals. These AI-powered tools aim to improve productivity throughout all phases of project execution.
Philanthropy
Through its philanthropic arm Procore.org, the company collaborates with Habitat for Humanity, offering unrestricted use of Procore’s software suite—including Project Management, Quality & Safety, and Construction Financials—as a form of in-kind support.
Procore.org also contributes software donations to educational institutions and promotes initiatives encouraging women to pursue careers in construction technology.
In September 2024, Procore served as a sponsor for the PGA Tour event held in Napa.