Procore Technologies increased its footprint in Austin last week with its acquisition of Esticom, an Austin-based estimating software company.
Procore, which has more than 500 employees in Austin, makes construction management software. Its acquisition of Esticom will allow the company to add estimating to its Procore platform, which general contractors and specialty contractors use to oversee projects.
Procore did not disclose the financial terms of the transaction.
“We welcome the Esticom team to Procore,” Tooey Courtemanche, Procore Founder and CEO, said in a news release. “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’s software platform can now be used during the early stages of a project.
“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,” Chris Lee, cofounder of Esticom, said in a news release.
Esticom will become part of the Procore platform next year and until then is a partner on the Procore App Marketplace.
Procore, based in Carpinteria, California, has raised more than $648 million in venture capital financing since its founding in 2003, according to Crunchbase data.
