Procore Introduces New Tools to Improve Performance

CARPINTERIA, Calif. - February 16, 2016 — Procore, a leader in construction management software, today announced a major expansion to its current product suite that brings greater performance management capabilities to the construction industry. With a breadth of features that meets its clients' needs throughout the construction project lifecycle, Procore is redefining the standard for construction project management.

The new tools, Intelligent Specs, Quality & Safety Performance Management, Field Financials, and Insights, extend the value of Procore by incorporating the most crucial elements of the construction lifecycle onto one construction project management platform. Construction professionals need to be able to access vital project information when and where they need it, while ensuring that every member of the project is working from one unified set of plans.

"The goal of Procore is to help modernize the construction industry, and the product announcements we made at Groundbreak are another step towards achieving that goal," said Tooey Courtemanche, CEO, Procore Technologies. "Through close collaboration with our customers we're able to create products that meet the specific needs of construction professionals. With the addition of Intelligent Specs, Quality & Safety Performance Management, Field Financials, and Insights, we're extending the value of the Procore platform and further eliminating the need for a scattered collection of single-purpose construction software applications."

Enhancements to the Procore product suite include:

Intelligent Specs is the first-ever specification management tool designed for general contractors. We're taking the entire rulebook for specifications and making it digital. Construction professionals can now upload spec sheets directly to Procore, creating a searchable repository via a proprietary text extraction algorithm that connects with drawings and other tools to save time and get the information fast and in the field.

Quality & Safety Performance Management equips construction professionals with the ability to track financials, quality, safety, and schedules all within one project management solution. Quality and safety are fundamental to the construction industry. The new tool is an integrated part of the entire Procore platform, which reduces application footprint and increases adoption while mitigating risk and reducing the cost of rework. Within the Quality & Safety Performance Management toolset, Procore is launching two new tools:

• Observations to allow users to track, assign, and report upon multiple types of construction observations, on the fly, before substantial completion.

• Inspections to provide users with a way to standardize, manage, and improve their construction quality performance processes from their desktop and mobile devices.

Field Financials provides a centralized communications solution that allows project managers to make financial decisions without having to log into accounting systems, create time-consuming Excel reports, or lean on their accounting teams. The collaborative, mobile enabled financial management tool helps construction professionals stay on top of potential cost issues by allowing them to:

• Track change orders

• Speed up the approval process

• Set permission levels

• Submit payment applications

• Monitor the status of payments

Insights provide real-time access to project information through reporting that allows construction professionals to be proactive when it comes to monitoring progress, whether that's on the project level or across the company. With a better understanding on where to focus attention and devote resources, construction projects can remain on track, within budget and in scope.

Procore users are able to take advantage of these new tools immediately.

About Procore Technologies, Inc.

Procore Technologies, Inc., a leader in construction management software, helps construction firms simplify the construction process with a powerful, yet easy to use platform. With unlimited user licenses and user-centric product development, we are able to create the most intuitive and collaborative platform — resulting in immediate ROI. When all stakeholders have constant access to real time project information from anywhere, at any time, with any device, firms drastically increase their project efficiency, and more importantly, profit. For more information about Procore, or for a free demonstration, visit visit www.procore.com.