CARPINTERIA, Calif. (May, 6, 2021) — Procore Technologies, Inc., a leading provider of construction management software, has announced it has acquired INDUS.AI, makers of an artificial intelligence-powered analytics platform for the construction industry. This acquisition adds computer vision capabilities to the Procore platform, helping owners, general contractors and specialty contractors realize greater efficiencies, safety and profitability. Terms of the transaction are not being disclosed.
The construction industry is undergoing a digital transformation. While this transformation is producing mountains of previously inaccessible data, up to 96% of construction data goes unused. INDUS.AI’s AI engine learns from project management platforms, cameras, sensors, drawings, building information models, schedules, and more — and creates 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 labor deployment, minimize equipment idle time and resolve claim disputes.
Every day, INDUS.AI monitors over 100 million square feet of construction sites with its AI engine detecting anomalies and progress. It has been trained with millions of images and videos specific to construction and is able to identify more than 70 metadata labels per image. The INDUS.AI acquisition builds on Procore’s acquisition of Avata Intelligence in 2020, which brought world-class AI talent to Procore and is delivering smart automation solutions and predictive insights to Procore customers. Procore plans to integrate INDUS.AI’s capabilities into the Procore platform. In the interim, INDUS AI’s solutions will not be commercially available to new customers. Visit procore.com.
