How does Mexico fit into Procore’s international business model?

Mexico has evolved into a pivotal market within our expansion strategy. Since venturing into Latin America, Mexico has emerged as a key focal point. Our cloud-based construction software has found remarkable success in the Mexican market. Initially, some believed that our solutions were tailored solely for larger corporations, but we’ve demonstrated our versatility. Procore caters to small, emerging, mid-market, and major enterprise companies alike, offering efficiency and enhanced margins across the board. Our presence in Latin America reflects our commitment to sustained growth. While Mexico has been receptive, our sights are set on expanding across the region over the next five to ten years.

Why did Procore venture into becoming a technology company focused on construction industry solutions?

Procore’s inception over two decades ago stemmed from our founder, Tooey Courtemanche’s, vision to revolutionize the construction landscape. Having a background in the construction industry, he envisioned a more efficient approach that not only drove profitability but also afforded people more time outside work. Our mission is to reshape the construction paradigm by centralizing activities across pre-construction, construction, and post-construction stages. Procore offers a platform that enables comprehensive management, allowing access to multiple users, including suppliers. Our greatest differentiator lies in offering unlimited users and data storage, transforming how construction projects are undertaken.

What was the experience like during Procore’s IPO, and what are the company’s expectations post-IPO?

We had initially planned to go public a year ago, but due to certain circumstances, we had to pause the process. While we intended to proceed with the IPO in early summer 2021, the pandemic’s impact persisted. Despite the challenges, the IPO signifies an exciting phase for us, anticipating substantial growth. Our acquisitions have further strengthened our position, laying the foundation for sustained growth. International expansion remains a fundamental pillar of our company, charting a trajectory for continued progress.

What are the objectives for Procore in Mexico and Latin America in 2023/2024?

Our primary focus for the upcoming year is growth. Continual expansion allows us to cater to diverse market needs. Mexico, undoubtedly, remains a captivating market, and my personal ambition is to position Procore as a leading performer across Latin America. Our goal is to further solidify our presence and reinforce our commitment to providing innovative construction solutions throughout the region.