Procore Technologies, Inc. announces the acquisition of INDUS.AI that will expand the Procore platform's computer vision abilities.
FREMONT, CA: Procore Technologies, Inc., the top provider of construction management software, has announced the acquisition of INDUS.AI, the developer of an artificial intelligence-based analytics platform for the construction sector. This acquisition expands the Procore platform's computer vision abilities, allowing owners, general contractors, and specialty contractors to achieve greater efficiencies, safety, and profitability. The terms and conditions of the transaction have not been revealed.
The construction sector is in the midst of a digital revolution. While this transformation generates a massive amount of previously inaccessible data, up to 96 percent of construction data remains unused. INDUS.AI engine tries to learn from project management platforms, cameras, sensors, drawings, building information models, schedules, and other data sources to generate observations, recommendations, and warnings that assist project teams in making data-driven judgments. INDUS.AI solutions are used to monitor and review construction status, verify safety and compliance, obtain real-time project visibility, visualize labor deployment, reduce equipment idle time, and fix claim disagreements.
"We are excited to welcome the INDUS.AI team to Procore as we expand our AI capabilities," said Tooey Courtemanche, Procore Founder, and CEO. "Our customers depend on the Procore platform as their system of record. With our investments in analytics and AI, were becoming their system of intelligence and helping our customers unlock the value of their project data through powerful insights that enable better, data-driven decisions."
"Since 2017, INDUS.AI has been using computer vision and AI to improve the lives of construction professionals, freeing them up to focus on the most important parts of their projects. The Procore platform contains immense amounts of visual data and were looking forward to transforming it into actionable construction knowledge together," said Matt Man, Co-founder, and CEO of INDUS.AI.
"I can't think of a better way to acknowledge North Americas Construction Safety Week than for INDUS.AI to join forces with Procore. Weve been a Procore App Marketplace partner since 2018, and we first partnered on a safety integration. Together, well keep making construction safer, more efficient, and more profitable," said Navin Kaminoulu, Co-founder and COO of INDUS.AI.