Procore Technologies acquires DroneDeploy for $845M

DroneDeploy offers both ground and aerial automated inspections. | Source: DroneDeploy

Procore Technologies Inc., a construction management software provider, this week said it will acquire DroneDeploy for approximately $845 million in cash. DroneDeploy offers a robotics and visual intelligence platform for the built world that has been used on over 3 million job sites across more than 180 countries.

“I am very excited to bring DroneDeploy’s outstanding team, technology and track record of customer success to Procore,” stated Ajei Gopal, president and CEO of Procore. “Once the acquisition closes, we plan to immediately cross-sell DroneDeploy’s solutions into our broader customer base and vice versa.”

“For the longer term, adding DroneDeploy’s technology into the Procore platform will enable us to accelerate our AI strategy and deliver digital co-workers that track what’s happening on a project, make sense of it, and then take action to change the outcome,” he said.

DroneDeploy said its visual intelligence technology bridges the physical world, including active construction sites and operational assets, with the digital world. The San Francisco-based company claimed that it provides real-time visibility into daily operations.

Today, construction teams collaborate in Procore, documenting observations and driving actions within the platform. DroneDeploy said it captures visual information, and when combined with Procore AI, that data can be translated into iobservations to drive autonomous action within Procore.

Procore said the connection between project data and jobsite reality is foundational to its AI strategy as it evolves from the system of collaboration and record to the system of intelligence for construction. DroneDeploy provides perception through three-dimensional ground and aerial imaging, spanning drones ; ground-deployed robots; and mobile, fixed, and wearable cameras.

The companies said the combination of their technologies will enable users to to see, understand, and act within Procore. Construction teams can automatically document observations, identify issues earlier, and take actions to improve how projects get built, they asserted.

“DroneDeploy was built to give people who build, power, and feed our world a source of truth about the physical site,” said Mike Winn, CEO of DroneDeploy. “Over the last decade, our customers have consistently told us the same thing—they want reality capture to be a native part of how they work, not another tool bolted on.”