Procore to Acquire Honest Buildings to Enhance Project Management for Owners
Honest Buildings accelerates Procore’s mission of connecting everyone in construction on a global platform
CARPINTERIA, Calif., July 16, 2019 – Procore Technologies, Inc., a leading provider of construction management software, today announced it has entered an agreement to acquire Honest Buildings, Inc., a leading provider of project management software for owners and developers. This acquisition will allow Procore to create the construction industry’s first full-stack platform to manage projects from start to finish. Together, the companies will use their platforms to create unified financials and cost tracking from the first dollar in from the investor or lender to its final spend at the subcontractor or material provider level.
Honest Buildings’ data-driven platform is purpose-built for owners and is used to ensure capital and construction projects are completed on time and on budget. Honest Buildings provides direct value to owners by centralizing all projects portfolio-wide, moving workflows out of spreadsheets and onto its platform. Owners can also harness data to manage capital more strategically. Customers include global, national, and local owners, including Brookfield, Oxford Properties Group, and EQ Office, Blackstone’s U.S. office portfolio company. Based in New York, NY, Honest Buildings was founded in 2012 by CEO and co-founder Riggs Kubiak. The company’s over 100 team members, including additional co-founders Cody Roberts and Garrett Kubiak, will join the Procore team, expanding the company’s New York City presence.