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Best Procore App Marketplace Partners Statistics
☰ Use “CTRL+F” to quickly find statistics. There are total 54 Procore App Marketplace Partners Statistics on this page 🙂Procore App Marketplace Partners Software Statistics
- Most respondents are not using specialized construction specific software instead relying on the kind of fragmented general productivity software used across many industries and offices (85%). [0]
- The remaining 15% manage construction projects with software tools that are integrated together. [0]
- Procore arrives at a ~$9.2B TAM number based on taking the Gartner estimate of 6.1% for application software spend and applying that to the $10T number of total construction revenue estimate from 2017. [1]
- Procore Technologies ( PCOR 8.60%). [2]
Procore App Marketplace Partners Adoption Statistics
- The top technologies identified as priority for future adoption were Data centralization technologies (42%) Predictive analytics for cost modelling (36%). [0]
Procore App Marketplace Partners Latest Statistics
- 78% of Corporate and Public Real Estate Owners Over Budget On Construction Projects IDC Survey CARPINTERIA, Calif., August 12, 2021. [0]
- The survey revealed that 75% of owners were over planned budgets on their projects, and 77% were late. [0]
- Per project, owners experienced an average of six changes to the budget and five changes to the schedule, with a 15% average increase in project costs as a result of these changes. [0]
- The 17% of respondents who were least over their budget and estimate for days/completion time. [0]
- The 19% of responding organizations who were most over their budget and estimate for days/completion time. [0]
- Biggest Challenge Finding Skilled Trades and Labor Perhaps not surprising, owners identified that the greatest challenge to getting projects done is on site labor shortages (69%). [0]
- Only 24% of respondents said they are wellstaffed, with the right skill sets around financial governance, reporting, and controls, and only 33% are well staffed for planning, design, and scoping. [0]
- Owners also saw environmental regulations (66%) and project cost escalations (61%). [0]
- Over 20% of total survey respondents reported using three mobile construction apps every day. [3]
- “Procore goes public, stock jumps 34%”. [4]
- Per usual, the $100M figure is a placeholder and is likely to rise significantly by the time the company prices their IPO. [1]
- Procore’s mission is to “connect everyone in construction on a global platform” and it operates in one of the oldest and least digitized industries in the world construction which represented ~13% of GDP, and employed 7% of the global workforce in 2017. [1]
- The company did $289.2M in revenue in 2019, up 55% YoY with 8,506 customers running projects in 125+ countries. [1]
- They ended last quarter at $339.6M of implied ending ARR , up 54%. [1]
- The App Marketplace has been widely adopted by customers and ~72% of customers have at least 1 integration and 40%+ have two or more. [1]
- Procore has been successful in building new products and as of 31Dec 2019, 59% of their customers subscribed to 3 or more of their products (41% have 4+ products). [1]
- 60% of which are “collaborators”, which are users involved in a project but don’t have control over what data they can access and more limited functionality. [1]
- Procore mentions some ROI statistics for their customers and according to the 2018 Procore Survey, 93% of individual respondents say their company is more protected against claims or litigation due to the data tracked in Procore. [1]
- A few more stats from the 2018 Procore survey below 87% of individual respondents reported that after using Procore’s products, submittals were processed faster. [1]
- 84% of individual respondents reported they were able to process requests for information, or RFIs, faster. [1]
- 85% of individual respondents reported closing punch list items faster after using Procore’s products. [1]
- 90% of individual respondents said their client satisfaction has increased since using Procore.. [1]
- Procore did $289.2M in revenue in 2019 and grew 55% YoY and had a % non GAAP operating margin in the same year. [1]
- Across their 8,500+ customers Procore had a 117% net dollar retention rate and 95% gross dollar retention rate. [1]
- Customers that are $100K+ in ARR are growing almost 60% YoY and represent 8% of total customers. [1]
- In 2019, 63% of the growth in revenue was attributable to revenue from existing customers and 37% was attributable to revenue from new customers. [1]
- In addition, 86% of accredited U.S. construction management programs teach students about the Procore platform. [1]
- In 2019, the average Procore support response time to a user support request via online chat or phone was under 60 seconds, and they had a positive customer support satisfaction rating of over 90%. [1]
- Customers are running projects in 125+ countries, and 11.3% of revenue in 2019 was generated from customers outside the United States. [1]
- According to a 2018 JBKnowledge construction survey, ~93% of construction workers surveyed use a smartphone and 62% use a tablet every day. [1]
- And while IT spend is lower, 80% of contractors surveyed in a USG Corporation and U.S. Chamber of Commerce survey believe that they will use some newer technology by 2024. [1]
- ~$10T in 2017 to ~$14T by 2025, according to McKinsey. [1]
- The 2018 FMI Report estimates that employees at construction companies spend 35% of their time on “non optimal” tasks and this cost the U.S. construction industry an estimated $177.5B in labor costs in 2018. [1]
- According to McKinsey, the typical non residential construction project runs 80% over budget and 20 months behind schedule. [1]
- In 2017, the UN estimated that over the next 40 years, 2.5T square feet of new construction will need to be built globally in order to meet population growth and urbanization expectations. [1]
- Based on that report, Procore believes they’re only 2% penetrated among their total addressable customer base. [1]
- According to Pitchbook, Procore has raised $490M to date from investors including Bessemer, ICONIQ, Dragoneer, Tiger, Lead Edge, Persistence Capital Partners, and others via Series A through I financings. [1]
- 5%+ pre offering institutional investor shareholders include ICONIQ (44.3%) and Bessemer (14.9%). [1]
- CEO and founder, Craig “Tooey” Courtemanche, Jr., is at a 6.7% pre. [1]
- % YoY for 3 quarters straight. [1]
- They also have nice expansion characteristics and were at a 117% net dollar retention rate in 2019, although that’s down slightly from previous years. [1]
- Moreover, just over 10% of revenue is from international customers which represents a huge growth opportunity for the business. [1]
- In this Toptal article, Josh Chapman, who has since moved on to become a Managing Partner at Konvoy Ventures, uses a study to explain how customer retention “can increase revenue over an 18 24 months period by as much as 80%+.”. [5]
- However, I will say that 7% of the global population actually works in construction, so I’m probably speaking to a certain subset of your audience right now. [2]
- Procore provides our solution to 85% of the construction management universities in America. [2]
- One of the things I think about when we’re talking about the construction industry is that the construction companies themselves tend to operate with fairly low profit margins, like, below 5%. [2]
- The average construction firm is bringing home gross margins less than 5%, in some cases, 2%. [2]
- First, I think Snowflake ( SNOW 6.15%). [2]
- Over 20% of total survey respondents reported using three mobile construction apps every day. [6]
I know you want to use Procore App Marketplace Partners, thus we made this list of best Procore App Marketplace Partners. We also wrote about how to learn Procore App Marketplace Partners and how to install Procore App Marketplace Partners. Recently we wrote how to uninstall Procore App Marketplace Partners for newbie users. Don’t forgot to check latest Procore App Marketplace Partnersstatistics of 2024.
Reference
- procore – https://www.procore.com/press/78-of-corporate-and-public-real-estate-owners-over-budget-on-construction-projects-idc-survey.
- meritechcapital – https://www.meritechcapital.com/blog/procore-ipo-s-1-breakdown.
- fool – https://www.fool.com/investing/2021/08/23/procore-ceo-tooey-courtemanche-on-making-construct/.
- procore – https://www.procore.com/press/industry-continues-to-rank-procore-project-management-software-no1-in-2021-jbknowledge-construction-technology-report.
- wikipedia – https://en.wikipedia.org/wiki/Procore.
- crossbeam – https://www.crossbeam.com/blog/the-beginners-guide-to-saas-tech-partnerships/.
- businesswire – https://www.businesswire.com/news/home/20240119005464/en/Industry-Continues-to-Rank-Procore-Project-Management-Software-1-in-2021-JBKnowledge-Construction-Technology-Report.
How Useful is Procore App Marketplace Partners
One of the most significant advantages of using Procore App Marketplace Partners is the ability to customize the platform to suit the specific requirements of each user. With a wide selection of apps available, users can choose the ones that best align with their goals and seamlessly integrate them into their Procore workflow. This level of customization empowers users to optimize their operations according to their unique workflows and objectives, ultimately leading to improved efficiency and effectiveness.
Furthermore, the Procore App Marketplace Partners enable users to access cutting-edge technology and innovation that may not be available within the core Procore platform. These partnerships bring in specialized tools and functionalities that address niche requirements within the construction industry, allowing users to stay competitive and up-to-date with industry trends. From project management to safety compliance, there is a diverse range of apps available to cater to every aspect of the construction process.
Another benefit of utilizing Procore App Marketplace Partners is the seamless integration with the core Procore platform. This integration ensures that data flows smoothly between different apps and the main Procore system, eliminating the need for manual data entry and minimizing the risk of errors. This streamlined workflow not only saves time and resources but also enhances data accuracy and visibility, enabling users to make informed decisions based on real-time information.
Moreover, Procore App Marketplace Partners offer users access to a vibrant community of developers and experts who constantly innovate and improve their solutions. This collaborative environment fosters a culture of continuous improvement, where new features and updates are regularly rolled out to enhance user experience and address emerging challenges in the construction industry. By being part of this ecosystem, users can leverage the expertise and resources of a diverse network of professionals, ensuring that they always have access to the latest tools and best practices.
In conclusion, the Procore App Marketplace Partners are incredibly useful for construction businesses looking to streamline their operations, optimize their workflows, and stay ahead of the competition. By providing a wide range of specialized apps, seamless integrations, and access to a vibrant developer community, these partners empower users to enhance their productivity, efficiency, and effectiveness. Overall, the Procore App Marketplace Partners have proven to be a valuable asset for construction companies seeking to innovate and prosper in today’s competitive environment.
In Conclusion
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