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Procore acquires artificial intelligence company

Juan Santamaria, previously Managing Director of CPB Contractors, has been promoted to CEO and Managing Director of CIMIC Group. He will begin in the new role on 5 February 2020.

Procore Technologies has acquired INDUS.AI, the makers of an artificial intelligence-powered analytics platform for the construction industry.

The acquisition adds computer vision capabilities to the Procore platform, helping owners, general contractors, and specialty contractors realise greater efficiencies, safety, and profitability. Terms of the transaction are not being disclosed.

INDUS.AI’s AI engine learns from project management platforms, cameras, sensors, drawings, building information models, and schedules to create observations, recommendations, and alerts that help project teams make data-driven decisions.

INDUS.AI’s solutions are used to track and review construction progress, ensure safety and compliance, gain real-time project visibility, view labour deployment, minimise equipment idle time, and resolve claim disputes.

Procore founder and CEO Tooey Courtemanche said the company is excited to welcome the INDUS.AI team to Procore.

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“Our customers depend on the Procore platform as their system of record. With our investments in analytics and AI, we’re becoming their system of intelligence and helping our customers unlock the value of their project data through powerful insights that enable better, data-driven decisions,” Courtemanche said.

INDUS.AI Cofounder and CEO Matt Man said the company has been using computer vision and AI to improve the lives of construction professionals since 2017.

“The Procore platform contains immense amounts of visual data, and we’re looking forward to transforming it into actionable construction knowledge together,” Man said.

INDUS.AI cofounder and COO Navin Kaminoulu said the business has been a Procore App Marketplace partner since 2018.

“I can’t think of a better way to acknowledge North America’s Construction Safety Week than for INDUS.AI to join forces with Procore,” Kaminoulu said.

“Together, we’ll keep making construction safer, more efficient, and more profitable.”

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