Procore acquires LaborChart, aims to improve construction workforce management
Procore has acquired LaborChart, a provider of workforce management software that helps contractors to better schedule, manage, forecast, and communicate with their workforces, ultimately improving profit margins.
Labour 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 labour.
"Construction is facing a global labour 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."
Financial terms were not disclosed. The acquisition is not expected to have a material impact on Procore's full-year 2021 financial results.