Procore Technologies, which provides cloud-based construction management and collaboration software, filed on Friday with the SEC to raise up to $100 million in an initial public offering, though this is likely a placeholder for a deal we estimate could raise up to $400 million.
The Carpinteria, CA-based company was founded in 2002 and booked $289 million in revenue for the 12 months ended December 31, 2019. It plans to list on the NYSE under the symbol PCOR. Procore Technologies filed confidentially on November 21, 2019. Goldman Sachs, J.P. Morgan, Barclays, and Jefferies are the joint bookrunners on the deal. No pricing terms were disclosed.
