PROCORE

Tooey Courtemanche was a construction guy. He built houses in Carpinteria, California, and was frustrated by how disorganized the industry was.

Blueprints on paper. Change orders by fax.

Budget tracking in spreadsheets. Communication by shouting across job sites.

He founded Procore in 2002 to build cloud-based construction management software. The early years were brutal — the construction industry was allergic to software and the company nearly died multiple times.

But Courtemanche kept building, slowly winning over contractors one job site at a time.

SaaS subscription based on annual construction volume. Companies pay based on the total value of projects they manage on the platform.

This pricing model scales with the customer’s business. Revenue exceeded $900 million in 2024.

Procore offers unlimited users — everyone from the general contractor to subcontractors to owners can access the project. This drives adoption because there’s no per-seat friction.

Project management — RFIs, submittals, daily logs, and scheduling. Financial management — budgets, change orders, and invoicing.

Quality and safety — inspections, observations, and incident tracking. BIM (Building Information Modeling) coordination.

Preconstruction — bidding, estimating, and prequalification.

Procore grew through the construction industry’s network effects. When a general contractor uses Procore on a project, every subcontractor gets exposed to the platform.

Many then adopt it for their own projects. The company also invested heavily in construction industry events, training, and certification programs.

The construction industry is massive but slow to change. Many companies still resist digital transformation.

Procore also faces competition from Autodesk (PlanGrid, BIM 360), Oracle (Primavera), and other construction software companies. International expansion requires adapting to different construction practices and regulations.

Before the 2021 IPO, Procore was backed by Bessemer Venture Partners, ICONIQ Capital, and Tiger Global. The IPO on NYSE raised $635 million at an $11 billion valuation.