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PROCORE TECHNOLOGIES, INC.

(PCOR)
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Procore Technologies : ELEVATE Chooses Procore as Its Construction Management Platform

06/23/2021 | 08:34am EDT

Builder of luxury commercial spaces achieves goal of being 100 per cent mobile by using Procore

Procore Technologies, Inc. (NYSE: PCOR), a leading provider of construction management software, today announced that ELEVATE Build has chosen Procore as its construction management platform.

ELEVATE was founded in 2019 and specializes in creating high-end commercial spaces, including Alchemy, a Toronto retailer recently featured in Interior Design Magazine. The company delivers projects across Canada and the U.S.

After trialing other solutions, ELEVATE chose the Procore platform for its complete feature set, flexibility and fast onboarding. Paul Bélanger, ELEVATE’s principal and project director, estimates that Procore will save the company about $45,000 (CAD) each year by streamlining administrative work. With Procore, ELEVATE is able to provide clients with frequent updates about project finances, confident that no details have been missed.

“My vision is for ELEVATE to be a 100 per cent mobile company, with our team able to work anywhere with all the project information at our fingertips,” said Bélanger. “Procore enables us to do that, and to provide a high level of customer service while ensuring we are streamlining our processes to be more cost efficient. Procore was the right fit for us—and we’re aligned about where the construction industry needs to go.”

“ELEVATE is a great example of a boutique firm punching above its weight and delivering fantastic value to clients by using digital tools,” said Jas Saraw, Vice President, Canada, Procore. “Procore power users like ELEVATE help us continually improve our platform and ensure we are building the features construction professionals need.”

While ELEVATE initially implemented Procore to leverage financial and project management tools, the company continues to discover new ways to use the platform to innovate and improve day-to-day operations.

About Procore

Procore is a leading provider of construction management software. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Procore’s platform connects key project stakeholders to solutions Procore has built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Procore's Marketplace has a multitude of partner solutions that integrate seamlessly with Procore’s platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices in the United States, Canada and around the globe. Learn more at Procore.com.

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© Business Wire 2021
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Financials (USD)
Sales 2021 489 M - -
Net income 2021 -251 M - -
Net cash 2021 449 M - -
P/E ratio 2021 -54,5x
Yield 2021 -
Capitalization 13 331 M 13 331 M -
EV / Sales 2021 26,4x
EV / Sales 2022 21,7x
Nbr of Employees 2 063
Free-Float 61,1%
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Mean consensus BUY
Number of Analysts 11
Last Close Price 103,28 $
Average target price 101,30 $
Spread / Average Target -1,92%
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Managers and Directors
Craig F. Courtemanche Co-President, Chief Executive Officer & Director
Steven C. Zahm Co-President & Chief Culture Officer
Paul Lyandres Chief Financial Officer & Treasurer
Sam Crigman Chief Technology Officer
William John Griffith Director
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