Deals
Procore to Postpone IPO, Raise Funds at $5 Billion Value
- Construction software company raised more than $150 million
- It had filed for U.S. initial public offering in February
Photographer: Angus Mordant/Bloomberg
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Procore Technologies Inc., a construction software company that filed in February for a U.S. initial public offering, postponed those plans and instead completed a private funding round, according to people familiar with the matter.
It raised more than $150 million at a valuation of about $5 billion, the people said, asking not to be identified because the matter isn’t public. New investors in the round include D1 Capital Partners, the investment firm run by Dan Sundheim, they said.