Procore Technologies has acquired Esticom, a cloud-based estimating and takeoff solution and leader in preconstruction technology.
This acquisition will add estimating functionality to the Procore platform, complementing Procore’s preconstruction offering by enabling greater accuracy in cost estimates, helping general contractors and specialty contractors win more bids, increasing productivity, and reducing risk throughout the lifecycle of a project.
During preconstruction, project planning takes place to define the project details, identify potential issues, finalize designs and drawings, define project budget, scope and schedule. Esticom helps the construction industry streamline the traditionally cumbersome process of takeoff and estimation. It enables contractors to quickly determine the quantities of materials needed on a job using project drawings and specifications, and then calculate labour and material cost estimates using a built in catalogue of materials and assemblies.
“We welcome the Esticom team to Procore,” said Tooey Courtemanche, Procore Founder and CEO. “Procore is investing in the future of preconstruction, an increasingly important and impactful part of the construction process. Together, Procore and Esticom will deliver a single, comprehensive preconstruction solution on the Procore platform, with data connectivity that helps customers track costs and accurately predict estimates.”
With the acquisition of Esticom, Procore extends its product capability into earlier stages of the construction lifecycle connecting owners, general contractors and speciality contractors on a single platform.
“Contractors who use Esticom typically see a three-fold increase in the number of construction projects they can estimate, and a five-fold increase in takeoff speed. Esticom is modernizing preconstruction by replacing paper plans and spreadsheets, and delivering more accurate estimates. We look forward to further advancing preconstruction as part of the Procore platform,” said Chris Lee, cofounder of Esticom.