Procore Technologies has acquired Esticom, a cloud-based estimating and takeoff solution provider of preconstruction technology.
The acquisition will add estimating functionality to the Procore platform, complementing the company’s existing preconstruction abilities by enabling greater accuracy in cost estimates, helping general contractors and specialty contractors win more bids, increasing productivity and reduce risk throughout the lifecycle of a project.
“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.”
During preconstruction, project planning takes place to define the project details, identify potential issues, finalize designs and drawings as well as define project budget, scope and schedule.
Esticom helps the construction industry streamline the traditionally cumbersome process of takeoff and estimation. It enables contractors to determine the quantities of materials needed on a jobsite, using project drawings and specifications, and then calculate labour and material cost estimates using a built-in catalogue of materials and assemblies.
With the acquisition of Esticom, Procore extends its product capability into earlier stages of the construction process, connecting owners, general contractors and specialty contractors on a single platform.
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“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,” said Esticom cofounder Chris Lee.
“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.”
Integration with Procore
Procore plans to fully integrate Esticom into its platform next year. For now, Esticom will remain a partner on the Procore App Marketplace, with an existing integration where estimates can be exported directly to generate a project budget.
Current Esticom users will continue to be supported as usual, and the product is available for purchase through Esticom.
To date, more than 1 million projects and more than US$1 trillion in construction volume have run on Procore’s platform. The platform connects every project stakeholder to solutions built specifically for the construction industry — for the owner, the general contractor and the specialty contractor.