Wednesday, March 3, 2021

Procore Launches IPO Effort, Targets NYSE

Carpinteria-based construction management software developer Procore, which just launched an IPO effort, said today that it plans to list its common stock on the New York Stock Exchange under the ticker symbol PCOR. The company has not yet indicated how much it intends to raise in its initial public offering, which is being underwritten by Goldman Sachs & Co. LLC, J.P. Morgan, Barclays, Jefferies, Canaccord Genuity, KeyBanc Capital Markets, Oppenheimer & Co., Piper Sandler, Stifel, and William Blair. The company is backed by ICONIQ Strategic Partners, Bessemer Venture Partners, Tiger Global, and D1. Proore reported a loss of $97M on revenues of $400.291M in 2020.