Procore Expands into the Middle East & North Africa Through Strategic Partnership with Existing Investor, Mubadala

BUSINESS WIRE)-- Procore Technologies, Inc. (NYSE: PCOR), a leading provider of construction management software, today announced its expansion into the Middle East & North Africa (MENA), with a focus on the United Arab Emirates (UAE) and Saudi Arabia.

Mubadala Investment Company, an Abu Dhabi-based sovereign investor and existing Procore shareholder, will partner with Procore to drive its expansion into MENA. The partnership will advance the opportunity for Procore’s platform to connect information and teams, drive performance, and ensure the safety of workers in the region’s construction industry.

Procore provides a single unified platform for construction, encompassing Project Management, Quality and Safety, Financials, Resource Management and Analytics, plus the ability to integrate with hundreds of widely used applications through Procore’s App Marketplace. Procore helps Owners, Contractors and Subcontractors build smarter by improving collaboration and streamlining communication through the construction supply chain, and providing real-time data and visibility into their project performance. Procore has over 10,000 customers running in excess of 1 million projects around the world.

“Procore builds software for the people who build the world. We are excited for our next phase of growth across the Middle East and North Africa in partnership with Mubadala," said Tooey Courtemanche, Procore founder and CEO. “Procore is already used in over 125 countries, and expanding globally will enable us to better partner with construction leaders around the world. Our mission is to connect everyone in construction on our global platform, so that our customers can build faster, safer and smarter.”

Ibrahim Ajami, Head of Ventures and Growth at Mubadala, said: “The construction sector in the Middle East is ripe for disruption as it remains largely undigitized. Procore’s platform is a game changer, and we are excited to support them on their mission to connect everyone in construction on a global platform, bringing significant efficiencies to the industry across the region.”

Procore has appointed Mohamed Swidan as Procore’s Head of MENA to build regional operations with all customer touchpoints in the team. Swidan is the former Head of Uber for Business, Middle East & Africa at Uber, and was previously Head of Cloud, Middle East South at SAP.

“Construction businesses in MENA today are accelerating their digitisation and innovation. As the COVID-19 pandemic recedes, owners and contractors are under continued pressure to drive innovation while controlling costs and improving productivity,” said Swidan. “Procore is thrilled to be on this journey with such a reputable and expert partner in the region. With Mubadala we have a unique opportunity to expand our one platform approach to a growing construction market, working closely with their team to respond to market needs.”

About Procore

Procore is a leading provider of construction management software. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Procore’s platform connects key project stakeholders to solutions Procore has built specifically for the construction industry—for the owner, the main contractor, and the subcontractor. Procore's Marketplace has a multitude of partner solutions that integrate seamlessly with Procore’s platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices around the globe. Learn more at https://www.procore.com/en-ae.

About Mubadala Investment Company

Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi. Mubadala’s $243.4 billion (AED 894 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates. Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing. For more information about Mubadala Investment Company, please visit: www.mubadala.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210706005056/en/