Procore Technologies Inc Stock Price, News & Analysis

Procore Technologies (NYSE: PCOR) has opened its first Middle East and North Africa (MENA) office in Dubai, marking a strategic investment in the region's construction sector. The new office will serve as a hub for construction technology experts, aiding local clients throughout their project journeys. Led by Mohamed Swidan, the office aims to enhance collaboration and streamline communication in construction projects, aligning with significant regional initiatives like Saudi Arabia's Vision 2030. Procore's commitment to the MENA region underlines its ambitious growth strategy.

Procore Technologies (NYSE: PCOR) and FMI Corp have released the State of Global Preconstruction Report, surveying 979 construction industry stakeholders. Key findings show that organizations with above-average preconstruction practices experience higher client satisfaction, greater profits, and fewer delays. Only 20% of surveyed entities reported such practices. Those outperforming in preconstruction are 52% more likely to report higher profitability. Despite this, only 46% expressed satisfaction with current preconstruction technology, indicating potential for improvement.

Procore Technologies, Inc. (NYSE: PCOR) has partnered with Quickbase, a no-code software provider, to enhance construction project management. This collaboration allows Procore users to develop customized, real-time applications without requiring professional developers, thereby streamlining workflows. The partnership aims to improve efficiency and decision-making by connecting data across systems, ultimately reducing project risks and enhancing visibility. The integration features a bi-directional link, enabling users to create tailored solutions for their unique business needs.

Procore Technologies (NYSE: PCOR), a leader in construction management software, announced its inaugural Investor Day will be held on November 9, 2022, from 9:00 a.m. to 1:00 p.m. Central Time at the Ernest N. Morial Convention Center in New Orleans. The event coincides with the Groundbreak 2022 conference, with virtual participation also available. Presentations by top executives, including CEO Tooey Courtemanche and CFO Paul Lyandres, will cover company strategy and financials. A live webcast will be accessible, and a replay will be available on Procore's Investor Relations page.

Procore Technologies, Inc. (NYSE: PCOR) has announced the opening of a new EMEA hub in Dublin, Ireland, as part of its strategy to expand its services and customer support in the region. The hub, located in South Point, spans 15,000 square feet and aims to create hundreds of jobs over the coming years across various roles including sales and customer support. Ciaran Cushley has been appointed as the Head of the EMEA Hub, bringing 18 years of experience from companies like DocuSign. This initiative highlights Procore's commitment to connecting stakeholders in construction globally.

Procore Technologies, Inc. (NYSE: PCOR) announced that Super Bowl MVP quarterback Drew Brees will be a keynote speaker at Groundbreak 2022, the leading construction technology conference, taking place in New Orleans from November 7-9. This event will gather industry professionals to explore advancements in construction management. Alongside Brees, keynote speakers include Fred Mills and Robin Roberts, discussing teamwork, talent attraction, and overcoming adversity. Groundbreak will also showcase more than 70 sessions and the Groundbreaker Awards, recognizing excellence in the construction sector.

QuoteToMe partners with Procore (NYSE:PCOR) to enhance procure-to-pay automation for the construction industry. The partnership aims to streamline procurement processes, potentially saving contractors up to 15% on materials while reducing time spent on sourcing by 75%. This integration enables users to create purchase orders via mobile or desktop, connecting seamlessly with Procore's Project Financials. Enhancing operational efficiency, it addresses the inefficiencies of traditional workflows that result in substantial waste in the $10 trillion construction market.

Procore has been selected by Mattamy Homes Canada, one of Canada’s largest home builders, to provide its construction management platform to the GTA Urban Division. This selection follows a thorough evaluation process, highlighting Procore's capacity for scalable digital transformation. The software will help streamline project management, financial oversight, and stakeholder collaboration across multiple future residential developments. This partnership is expected to enhance operational efficiency as Mattamy Homes expands its midrise and highrise offerings.

Procore Technologies, Inc. (NYSE: PCOR) has appointed Steve Davis as the new president of product and technology. With experience as the former CTO at Babylon Health and leadership roles at HomeAway and Expedia Group, Davis will lead product, design, and engineering efforts from Austin, TX. His role aims to enhance Procore's product strategy, catering to over 13,000 customers. Founder Tooey Courtemanche highlights Davis's consumer technology experience and cultural alignment as key strengths for driving innovation.