Procore and AWS Collaborate to Accelerate AI and Improve Project Outcomes in Construction

Procore Technologies has signed a multi-year strategic collaboration agreement with Amazon Web Services (AWS) to accelerate product development in AI, data operability, and analytics for the global construction industry. The partnership will enhance Procore's construction management platform, available in AWS Marketplace, and provide customers with easier accessibility, consolidated billing, and the use of existing AWS spend commitments and cloud credits. The collaboration aims to streamline project delivery, reduce risk, and improve productivity for customers.

Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, has signed a multi-year strategic collaboration agreement (SCA) with Amazon Web Services (AWS). This partnership aims to accelerate product development in AI, data operability, and analytics for the global construction industry. The collaboration will enhance Procore's construction management platform, now available in AWS Marketplace, and provide customers with easier accessibility, consolidated billing, and the use of existing AWS spend commitments and cloud credits.

The agreement signifies a joint commitment to co-invest in go-to-market activities and product innovation. Together, Procore and AWS will expand cross-team engineering initiatives to leverage Amazon Bedrock large language models (LLMs) for AI solutions, powering Procore's AI agents for document analytics, task automation, and intelligent assistance. This will help customers streamline project delivery and reduce risk.

Procore's President, Steve Davis, commented on the collaboration, "Our mission has always been to connect everyone in construction on a global platform. With AWS as one of our strategic collaborators, we will continue to supercharge our Agent Builder and Developer Studio, enabling owners and general contractors across verticals to plan, build, and operate their construction portfolio with greater scale, efficiency, and cost-effectiveness."

Allison Johnson, Senior Manager at Amazon Web Services, expressed excitement about the collaboration, "The strength of Procore’s connected platform is supercharging digital transformation in the construction industry. By combining Procore's deep industry expertise with AWS cloud infrastructure and services, we can empower customers in construction to unlock new levels of productivity, gain deeper insights from their data, and scale their operations more effectively."

Balfour Beatty, a century-old construction industry leader, is already collaborating with AWS and Procore to digitize its construction management process. Kasey Bevans, SVP and CIO at Balfour Beatty, noted, "The combination of Procore and AWS helps us build smarter and more efficiently. By providing access to real-time data, actionable project analytics, and clear sightlines into KPIs and project health to improve decision-making, we're better able to reduce risk, which is fundamental to our business."

This strategic collaboration is a significant step forward for Procore, positioning it to leverage AWS's robust cloud infrastructure and services to enhance its product offerings and provide more value to its customers.

References:
[1] https://www.stocktitan.net/news/PCOR/procore-and-aws-announce-strategic-collaboration-agreement-to-szhldrojijb0.html
[2] https://www.marketscreener.com/news/procore-technologies-insider-sold-shares-worth-1-008-681-according-to-a-recent-sec-filing-ce7c50dadc81f42c