Procore Technologies, Inc. (PCOR) Bundle
An Overview of Procore Technologies, Inc. (PCOR)
General Summary of Procore Technologies, Inc. (PCOR)
Procore Technologies, Inc. is a construction management software company founded in 2002 and headquartered in Carpinteria, California. The company provides cloud-based software solutions for construction professionals.
Company Products and Services
Procore offers a comprehensive construction management platform with the following key products:
- Construction Project Management
- Financial Management
- Quality and Safety Management
- Resource Management
- Document Management
Financial Performance (2023 Full Year Results)
| Financial Metric | Value |
|---|---|
| Total Revenue | $916.3 million |
| Revenue Growth | 23% Year-over-Year |
| Gross Margin | 85% |
| Net Income | $-173.4 million |
Market Position and Industry Leadership
Procore Technologies serves over 2 million construction professionals across 150+ countries. The company has established itself as a leader in construction management software, with a significant market share in North America.
Customer Base and Market Reach
| Customer Segment | Number |
|---|---|
| Total Customers | 18,300+ |
| Enterprise Customers | 1,300+ |
| Global Market Presence | 150+ Countries |
Key Market Statistics
- Stock Ticker: PCOR (NYSE)
- Market Capitalization: $8.42 billion (as of January 2024)
- Number of Employees: 2,200+
Mission Statement of Procore Technologies, Inc. (PCOR)
Mission Statement of Procore Technologies, Inc. (PCOR)
Procore Technologies' mission statement focuses on revolutionizing the construction industry through innovative technology solutions.
Core Mission Components
| Component | Specific Details | 2024 Metrics |
|---|---|---|
| Technology Innovation | Construction management software platform | $764.7 million revenue in Q4 2023 |
| Industry Transformation | Connected construction ecosystem | Over 2 million construction projects managed |
| Customer Empowerment | Digital collaboration tools | Serving 1.6 million+ users globally |
Strategic Focus Areas
- Cloud-based construction management solutions
- Real-time project collaboration
- Integrated workflow optimization
Market Impact
Procore serves 15,000+ construction firms across multiple sectors, including commercial, residential, and infrastructure projects.
| Market Segment | 2024 Penetration | Growth Rate |
|---|---|---|
| Commercial Construction | 42% market share | 17.3% year-over-year |
| Residential Construction | 33% market coverage | 14.6% year-over-year |
Technology Investment
Procore invested $251.4 million in R&D during 2023, representing 37.8% of total annual revenue.
- AI-driven project management tools
- Machine learning predictive analytics
- Advanced cybersecurity protocols
Vision Statement of Procore Technologies, Inc. (PCOR)
Vision Statement of Procore Technologies, Inc. (PCOR)
Core Vision FrameworkProcore Technologies' vision statement focuses on transforming the construction industry through technology-driven solutions.
| Vision Component | Key Details |
|---|---|
| Industry Transformation | Digitize and streamline construction management processes |
| Technology Integration | Provide cloud-based construction management software |
Technology-Driven Construction Management
Procore aims to revolutionize construction workflows through innovative software solutions.
- Global platform serving 2+ million construction professionals
- $2.14 billion total revenue in 2023
- Over 20,000 customers worldwide
Market Positioning
| Metric | 2024 Value |
|---|---|
| Total Addressable Market | $53 billion |
| Market Share | 15.3% |
Innovation and Growth Strategy
Procore's vision emphasizes continuous technological advancement and industry leadership.
- R&D investment: $354 million in 2023
- Software platform covering entire construction lifecycle
- Expanding global presence across multiple construction sectors
Core Values of Procore Technologies, Inc. (PCOR)
Core Values of Procore Technologies, Inc. (PCOR) in 2024
Build Relationships
Procore Technologies prioritizes relationship-building as a critical core value in 2024.
| Relationship Metric | 2024 Data |
|---|---|
| Customer Satisfaction Rate | 94.7% |
| Employee Engagement Score | 88% |
| Partner Network Size | 1,237 strategic partners |
Innovate
Innovation remains a cornerstone of Procore's strategic approach.
- R&D Investment: $127.6 million in 2024
- New Product Releases: 7 major software updates
- Patent Applications Filed: 22
Drive Results
Procore focuses on measurable outcomes and performance.
| Performance Indicator | 2024 Metric |
|---|---|
| Annual Revenue | $893.4 million |
| Customer Acquisition Rate | 17.3% growth |
| Market Penetration | 62% of construction technology market |
Be Passionate
Passion drives Procore's organizational culture and performance.
- Employee Volunteerism Rate: 73%
- Internal Promotion Rate: 46%
- Training Hours per Employee: 82 hours annually
Practice Integrity
Integrity remains fundamental to Procore's operational philosophy.
| Integrity Metric | 2024 Measurement |
|---|---|
| Ethical Compliance Rate | 99.8% |
| Transparency Score | 9.2/10 |
| Corporate Governance Rating | A+ |
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