PCOR - Baron Funds - Procore Technologies: Large And Growing TAM Provides A Long Runway
2024-05-03 10:40:00 ET
Summary
- Procore Technologies provides cloud-based construction management software to help contractors manage the construction process efficiently.
- The company has a large addressable market and has only penetrated a small portion of it, indicating potential for further growth.
- Procore has competitive advantages such as a single, integrated interface and a pricing model that encourages more industry practitioners to use its products.
The following segment was excerpted from this fund letter.
Procore Technologies, Inc. ( PCOR )
We initiated an investment in Procore Technologies, Inc. Founded in 2002, Procore provides cloud-based construction management software that helps general contractors, subcontractors, and asset owners manage every step of the construction process....
Baron Funds - Procore Technologies: Large And Growing TAM Provides A Long Runway