A representative for the company said the exact timing and terms of the IPO have not yet been set. It offers Procore, a cloud-based construction project management software solution to manage vital project data and Procore Mobile, a mobile construction application that enables users to review, create, edit, and share project data with team members from Why do we care about this particular IPO? But as always, let’s look at the risks. Procore S-1 Filing Lists Risk Factors The Procore IPO may come out this year or early half of 2020. Its revenue for that year rose about 55% from 2018, according to its filing with the U.S. Securities and Exchange Commission. The company saw respective net losses of $83.1 million and $56.7 million. Goldman Sachs is leading the IPO and Procore plans to trade on the New York Stock Exchange (NYSE) under the ticker “PCOR". Below are a … Procore lists $100 million as its IPO placeholder raise, intends to list on the NYSE as PCOR and its debut is being underwritten by Goldman, J.P. Morgan, Barclays and Jefferies. The company could reportedly be worth more than $4B, Procore CEO Craig “Tooey” Courtemanche Jr. (Credit: Boardroom Insiders, iStock). Procore, provider of construction management software, files for IPO, reveals revenue of $289.2M in 2019, up 55% YoY, on net loss of $83.1M vs. $56.7M in 2018 — Late Friday afternoon, construction management software provider Procore Technologies filed … HITT Contracting. Procore, a construction management software company based in Carpinteria, California, filed an S-1 with the U.S. Securities and Exchange Commission late Friday. For more articles like this, please visit us at bloomberg.com, Like us on Facebook to see similar stories, New York City changes admissions at many schools to ease racial segregation, Dr Jill Biden says op-ed attack a surprise – but won't let president-elect fight back. Procore raised $75 million from Tiger Global Management in December 2018. Procore Technologies, Inc., a provider of construction management software, filed its SEC S-1 form on February 28th, 2020. ‍Company Overview ‍Procore Technologies, the leading cloud-based construction management software provider, filed for a $100M IPO.Per usual, the $100M figure is a placeholder and is likely to rise significantly by the time the company prices their IPO. Procore had about 2,000 employees before the cuts, a spokesman said. (Bloomberg) -- Procore Technologies Inc., a construction software startup that filed to go public this year, has cut about 180 jobs, according to a person familiar with the matter. Back in September, Bloomberg News reported that Procore had tapped Goldman Sachs Group to lead its expected IPO, which could value the company at more than $4 billion. Sign Up. According to the global consulting firm McKinsey & Company, investors have poured more than $27 billion into the sector since 2008. Procore, a construction management software company based in Carpinteria, California, filed an S-1 with the U.S. Securities and Exchange Commission late Friday. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. According to the filing, Craig “Tooey” Courtemanche Jr., Procore’s president and CEO, founded the company in 2002 after becoming frustrated by the lack of transparency surrounding construction work at his home. Key features: Upload contacts, cost codes, locations, punch items, and submittals to Procore in batches. These cookies will be stored in your browser only with your consent. Contact us to find out more. On Friday last week, Procore filed it’s S-1 for a $100m IPO - hopefully the first of a number of high quality SaaS businesses that will go public in 2020. JP Morgan Securities will co-lead the offering, according to Friday’s filing. We also use third-party cookies that help us analyze and understand how you use this website. The filing lists $100 million as the value of the initial public offering, though this sum is a placeholder. Procore provide a wide range of concrete drilling, breaking and cutting services throughout Ireland. Privacy Policy Show full articles without "Continue Reading" button for {0} hours. In 2019, revenues were US$289.2 million , up from US$186.4 million in 2018 and US$112.3 million in 2017; the company recorded net losses for all three years: US$55.5 million in 2017; US$56.7 million in 2018; and US$83.1 million in … The Procore Platform connects people, applications, and devices and construction firms manage risk and build quality projects safely, on time, and within budget. Procore could still go public this year or early next year, said the person familiar with the matter, who asked not to be identified because details of its plans aren’t public. With Procore's Invoicing tool, your company can simplify the invoice collection, review, and approval process on all of your construction projects. Back in September, Bloomberg News reported that Procore had tapped Goldman Sachs Group to lead its expected IPO, which could value the company at more than $4 billion. CF Evans Construction. Necessary cookies are absolutely essential for the website to function properly. Investors We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Procore recorded $289.2 million in revenue in 2019 and $186.4 million in 2018, according to the filing. It filed in February for an IPO, disclosing a … In the last one year, the company has already acquired 3 startups as part of its plan to widen its offerings through M & A. You also have the option to opt-out of these cookies. A few reasons. In February 2020, Procore filed to go public, but the company subsequently delayed its IPO plans due to COVID-19. On 28 February 2020, Procore filed documents with the U.S. Securities and Exchange Commission for a proposed initial public offering. Construction tech startup Procore plans to go public, a move that could reportedly push the company’s value north of $4 billion. Managers at Wieland, a 61-year-old Michigan contracting firm that operates $325 million of projects a year, have used Procore … So the Procore IPO seems like a solid investment opportunity. Procore is a software company that provides cloud-based construction management software. When Procore looked at going public in September, reports valued the company at $3 billion. Software Startup Procore Said to Cut 180 Jobs Ahead of IPO. Procore is a leading provider of cloud-based construction management software, headquartered in California, United States, but with offices all around the world. Ryan Igo. Since 2018, Procore has acquired four companies using $171.6 million in cash and stock. The filing lists $100 million as the value of the initial public offering, though this sum is a placeholder. Procore Technologies, Inc. (1611052) SEC Filing S-1 IPO report for the period ending Saturday, August 29, 2020 In April, Procore raised more than $150 million at a valuation of about $5 billion and postponed its IPO, Bloomberg News reported. Video: These are America's 10 top trading partners (Fox Business). In the past decade, interest in construction-focused tech has grown significantly. It's designed to give individuals a convenient method for importing large sets of data to Procore. Bloomberg Law was the first to report the filing. A representative for Procore declined to comment on the planned IPO. Zillow Group included almost identical language in its 2011 S-1). Construction tech startup Procore plans to go public, a move that could reportedly push the company’s value north of $4 billion. Jim Landefeld. But opting out of some of these cookies may have an effect on your browsing experience. 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