Safe Site Check In CEO David Ward contributed, “What Procore’s Earnings and Katerra’s Bankruptcy Tell Us About Construction Tech,” for Bylt Construction News.
The much-anticipated Procore IPO, valuing the company at over $9B, was deemed a success. As they reported positive earnings for the past quarter, the same day that Katerra was back in bankruptcy court, the vastly different scenarios for what were once two unicorns, raises the question, “Is all the attention around construction tech really good for the industry?” It’s easy to think the answer is yes, especially if you have a stake in PCOR. Yet from a larger, industry perspective, Procore’s IPO and Katerra’s bankruptcy calls into question the real value of technology in the construction industry.
You can read the full article on the Bylt website.