Description
Procore Technologies is an American construction management software as a service company founded in 2002, with headquarters 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.
