Markets
Procore Hit $1.5B ARR With Its First GAAP Operating Profit — and Immediately Spent $845M on Reality Capture
SaaStr's July 31 teardown puts Procore at roughly $1.5B ARR across 150+ countries, growth reaccelerating to 16% after a deceleration, and its first GAAP operating profit. Two days earlier, on July 29, Procore signed a definitive agreement to buy DroneDeploy for ~$845M in cash — backed by a $700M bridge loan commitment — for a robotics and reality-capture platform used on 3M+ jobsites in 180+ countries. The vertical SaaS play here is telling: rather than adding an AI chat layer, Procore is buying proprietary physical-world data capture, betting the defensible moat in construction software is sensor data no LLM can synthesize.
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