#PropTech / Procore acquires Esticom ‘to invest in the future of preconstruction’

… construction tech unicorn Procore Technologies announced Tuesday morning that it has bought Esticom … [which] has developed cloud-based estimating and takeoff software focused on preconstruction…

Procore said the acquisition will add “powerful estimating functionality” to its platform, complementing its preconstruction offering by “enabling greater accuracy in cost estimates, helping general contractors and specialty contractors win more bids, increasing productivity, and reducing risk throughout the lifecycle of a project.”

During preconstruction, project planning takes place to define the project details, identify potential issues, finalize designs and drawings, define project budget, scope and schedule. Esticom aims to help the construction industry streamline the traditionally “cumbersome” process of takeoff and estimation. It does this by giving contractors a way to quickly determine the quantities of materials needed on a job using project drawings and specifications, and then calculating labor and material cost estimates using a built in catalogue of materials and assemblies.