Procore Technologies, Inc., a provider of construction management software, announced it has acquired LaborChart, a provider of workforce management software for specialty contractors and self-performing general contractors. LaborChart deepens the office and field connection by empowering contractors to better schedule, manage, forecast, and communicate with their workforces, ultimately improving profit margins.
Labor is typically the highest and most variable cost for contractors, yet many still rely on spreadsheets and analog options like whiteboards to manage their workforces. LaborChart’s software provides a modern solution to these legacy processes and complements Procore’s existing solutions.
Procore’s Field Productivity product helps contractors track employee time and provides insights into team productivity. LaborChart gives contractors a real-time and forward-looking understanding of all workers, assignments and commitments, enabling them to accurately plan, schedule and forecast. Together, these integrated solutions will give contractors a holistic view of their workforce, ensuring they have the control they need to manage, schedule, and budget their labor.
“Construction is facing a global labor shortage, with contractors struggling to find skilled workers. This makes it critical to efficiently manage existing workforces,” said Tooey Courtemanche, Procore Founder and CEO. “With the addition of LaborChart, Procore will be able to provide a complete workforce management solution that helps contractors optimize their workforces, maximize productivity, and take on more projects. The days of relying on spreadsheets and whiteboards are over.”
LaborChart Founder and CEO, Ben Schultz, said, “As a fourth-generation electrical contractor, I’ve seen every type of job site imaginable. For too long, the construction industry has lacked technology to effectively manage people — its most important asset. We built LaborChart to overcome outdated workforce management processes. By joining Procore, we’ll be able to further facilitate successful projects from start to finish, deepening the connection between the office and the field.”
Today, nearly 300 specialty contractors and self-performing general contractors use LaborChart, which has been a Procore App Marketplace partner since November 2020. LaborChart’s 40+ employees have joined Procore. Over time, LaborChart will be fully integrated with Procore.
Courtemanche added, “The acquisition of LaborChart, along with our recently announced agreement to acquire Levelset, adds complementary insights to Procore’s robust construction industry dataset. By combining project data, workforce data, and risk intelligence, customers can access a more complete view of the construction process that will help them build smarter.”
Financial terms were not disclosed. The acquisition is not expected to have a material impact on Procore’s full-year 2021 financial results.
