Procore reportedly delays IPO pursuit
Construction Dive
The software as a service (SaaS) provider did not set a date on its initial IPO paperwork filing, but said in the document it would in the near future. In each of the company’s three years of reporting, it’s recorded net losses: $55.5 million in 2017; $56.7 million in 2018; and $83 million in 2019. The number of Procore users, however, has doubled in that time, reaching nearly 1.3 million at the end of 2019. Enterprise clients are able to invite new clients at no additional cost to encourage wid…