Contact us to find out more. JP Morgan Securities will co-lead the offering, according to Friday’s filing. Procore Technologies, Inc. (1611052) SEC Filing S-1 IPO report for the period ending Saturday, August 29, 2020 New to the Procore Developer Portal? 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. Construction tech startup Procore plans to go public, a move that could reportedly push the company’s value north of $4 billion. Goldman Sachs is leading the IPO and Procore plans to trade on the New York Stock Exchange (NYSE) under the ticker “PCOR". The Procore design logo, “Procore,” “Procore Technologies,” and our other registered or common law trademarks, service marks, or trade names appearing in this prospectus are the property of Procore Technologies, Inc. Other trade names, trademarks, and service marks used in this prospectus are the property of their respective owners. The company had hired ten underwriters, including Goldman Sachs, JPMorgan, Barclays and Jefferies, for the proposed debut. Procore posted a net loss of $83 million on revenue of $289 million in 2019, according to its filing Friday with the U.S. Securities and Exchange Commission. Skip to content. Procore recorded $289.2 million in revenue in 2019 and $186.4 million in 2018, according to the filing. Key features: Upload contacts, cost codes, locations, punch items, and submittals to Procore in batches. Since 2018, Procore has acquired four companies using $171.6 million in cash and stock. Procore, a construction management software company based in Carpinteria, California, filed an S-1 with the U.S. Securities and Exchange Commission late Friday. Procore was founded on January 17, 2002, with headquarters in Carpinteria, California. Software Startup Procore Said to Cut 180 Jobs Ahead of IPO. In April, Procore raised more than $150 million at a valuation of about $5 billion and postponed its IPO, Bloomberg News reported. Privacy Policy According to its filing, Procore had revenues of $289.2 million in 2019, but recorded a net loss of $83.1 million; its platform had 1.3 million users at the end of 2019. By clicking Subscribe you agree to our Privacy Policy. Uber and Lyft both tanked, and WeWork backed out at the last second. The Procore IPO may come out this year or early half of 2020. But as with many startups, the company cautioned that it’s “not certain whether or when we will be able to achieve or sustain profitability in the future.” (Similar language was included in IPO filings for WeWork, which ultimately abandoned its plans to go public, as well as Uber and Lyft. Procore Technologies, Inc., a provider of construction management software, filed its SEC S-1 form on February 28th, 2020. However, the company still has $121.8 million in cash and cash equivalents on its balance sheet. Come to think of, M & A is pretty rampant in the construction technology industry. Bloomberg Law was the first to report the filing. All rights reserved © 2020 The Real Deal is a registered Trademark of Korangy Publishing Inc. In the last one year, the company has already acquired 3 startups as part of its plan to widen its offerings through M & A. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Video: These are America's 10 top trading partners (Fox Business). A representative for Procore, based in Carpinteria, California, declined to comment on its IPO plans. The company saw respective net losses of $83.1 million and $56.7 million. But as always, let’s look at the risks. Procore is a software company that provides cloud-based construction management software. Investors The company said in a blog post Tuesday, which confirmed an earlier Bloomberg News report, that it was cutting a “single-digit percentage” of jobs at the company. 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. Below are a … You also have the option to opt-out of these cookies. It's designed to give individuals a convenient method for importing large sets of data to Procore. Procore had about 2,000 employees before the cuts, a spokesman said. Procore Imports is a free, desktop software program that you can download and install on a computer running Windows 7 or higher. The Procore Platform connects people, applications, and devices and construction firms manage risk and build quality projects safely, on time, and within budget. We also use third-party cookies that help us analyze and understand how you use this website. So the Procore IPO seems like a solid investment opportunity. Procore recorded net losses of $83.1 million in 2019 and $56.7 million in 2018, according to its March filing, on respective revenues of $289.2 million and $186.4 million. Procore’s investors include Iconiq Strategic Partners and Bessemer Venture Partners, among other backers. Procore, a construction management software company based in Carpinteria, California, filed an S-1 with the U.S. Securities and Exchange Commission late Friday. Why do we care about this particular IPO? It filed in February for an IPO, disclosing a net loss of $83 million on revenue of $289 million in 2019. Home; So the Procore IPO seems like a solid investment opportunity. 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. Ryan Igo. The filing lists $100 million as the value of the initial public offering, though this sum is a placeholder. 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 … M - 087 206 5821 | info@procore.ie. Sign Up. 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. It filed in February for an IPO, disclosing a … Its other investors include Dragoneer Investment Group and Iconiq Capital. 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. Procore counts some of the city’s largest developers and contractors, including Brookfield Properties and Turner Construction, among its clients. 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. For full functionality of this site it is necessary to enable JavaScript. Construction management software provider Procore is moving ahead with its long-discussed plans for an initial public offering of its common stock, filing an S-1 form with the Securities & Exchange Commission on Feb. 28. Now, Procore looks to push that value to $4 billion with its IPO. 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