Procore's Plans for Construction Tech in 2020

In July of last year, Procore, a construction technology software company, acquired Honest Buildings, a project management software start-up. Now, the two companies are fully integrated and are poised for growth in 2020.

“Honest Buildings is now fully integrated and part of Procore. We were all really excited, but it has only exceeded expectations,” Riggs Kubiak, SVP of owner strategy at Procore, tells GlobeSt.com. “Coming together we have created a truly industry-changing platform that creates so much value for all stakeholders. Our cultures match, our values match, we are all incredibly passionate about creating positive change in the built world, and we are more excited than ever. It’s like one-plus-one equaled three, and the result is a quantum leap forward in achieving our mission to connect everyone in construction on a global platform.”

In 2020, the firm is planning to take a big step toward growing its construction technology software. “To double down on delivering a complete construction platform that connects every stakeholder—owners, general contractors, and specialty contractors—and gives distributed teams the ability to work from the same page in real time,” says Kubiak.

The merger will help the company achieve that goal, and in many ways, owners are already seeing the benefits of the combined platform. “For owners, the combination of having visibility into an entire portfolio while also being able to reach into the execution of the project has never been accessible before,” says Kubiak.

This year, the adoption of construction technology continued to grow, but Kubiak says that there is still a lot of growth ahead for the industry. “There’s no doubt that adoption of technology is on the rise, but we’re also in the first innings of this game,” he says. “The construction hasn’t been slow to adopt technology, it’s been technology that has been slow to adapt to the needs of construction.”

At the moment, the construction industry hasn’t completely adopted new technologies that can create efficiencies in the construction process. “Procore recently published a report based on sponsored research conducted by FMI Corporation, which indicated the construction industry has yet to tap into the full potential of construction technology to plan, build and maintain assets in the built environment,” adds Kubiak. “While the research verified the industry is in fact digitizing at an increasing rate after lagging behind most other major industries,  research pointed to many ways companies can get much more from the software by understanding how to deliberately leverage technology and their software provider to reach greater heights of efficiency and success.”