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Procore to Acquire DroneDeploy, Creating Next-Generation Platform That Sees, Understands, and Acts on the Jobsite
The deal would combine Procore and DroneDeploy to create an integrated jobsite platform, with the companies citing expanded product capabilities and customer benefits.
- On Wednesday, Procore Technologies announced an agreement to acquire DroneDeploy, a reality-capture and robotics platform, for approximately $845 million in cash.
- Procore has spent the year developing AI 'digital coworkers' to manage construction paperwork, but lacked physical site vision until acquiring DroneDeploy's cameras, drones, and robots.
- Financial results released by Procore showed its first GAAP operating profit and revenue up 16% to $375 million, while DroneDeploy brings approximately 20 trillion square feet of visual data.
- By pairing their capabilities, builders can now compare project plans with physical site builds to automatically flag safety issues and reduce manual jobsite inspections.
- The acquisition should close later this year pending regulatory approval, reflecting broader consolidation among construction technology firms seeking to control real-world data for AI training.
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Procore buys DroneDeploy for $845M to give its AI sight
Procore’s AI can read a construction project’s paperwork. Now it is paying $845m to give that AI eyes on the actual site. The construction-software company said it will buy DroneDeploy, a reality-capture and robotics firm, for about $845m in cash, Procore announced. DroneDeploy’s drones, ground robots and cameras are used on more than 3 million […] This story continues at The Next Web
·Amsterdam, Netherlands (Kingdom of the)
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Coverage Details
Total News Sources11
Leaning Left1Leaning Right1Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 17%
C 67%
R 16%
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