PROCORE TECHNOLOGIES Business Summary

Procore Technologies Inc. (PCOR) operates a leading cloud-based construction management platform, generating revenue primarily through a tiered, fixed-fee subscription model that scales based on a customer’s annual construction volume. Its comprehensive SaaS ecosystem is organized into four primary product categories—Preconstruction, Project Management, Resource Management, and Financial Management—serving a diverse client base of owners, general contractors, and specialty contractors. As of early 2026, Procore has solidified its "system of record" status by integrating "agentic" AI capabilities following its acquisition of Datagrid and achieving FedRAMP Moderate authorization to capture federal and state government contracts. In a competitive landscape featuring legacy incumbents such as Autodesk (Autodesk Build), Oracle (Primavera), and Bentley Systems, Procore maintains a dominant market position through its construction-first architecture and high net revenue retention, positioning it as the primary digital hub for the global construction lifecycle. The company was founded in 2003 by Craig "Tooey" Courtemanche, Jr., who transitioned to Executive Chairman in November 2025 to facilitate the appointment of current President and CEO Ajei Gopal. Gopal brings a high-pedigree background, having previously served as CEO of Ansys, where he oversaw a $35 billion acquisition by Synopsys and significantly scaled enterprise value. The leadership team is further bolstered by CFO Howard Fu and Steven S. Davis, President of Product and Technology, who oversees the firm’s AI-centric innovation strategy alongside CTO Sam Crigman. Procore’s governance is supported by a high-profile board including Lead Independent Director Graham Smith (former CFO of Salesforce), Kate Bueker (CFO of HubSpot), and recent appointee Ron Hovsepian (CEO of Skillsoft). Notable institutional backing from Iconiq Capital and Tiger Global Management underscores the company’s sustained appeal to top-tier technology investors.