Procore Set For $592M IPO This Week

Goleta-based construction management software developer Procore is expected to have its IPO debut this week, planning to raise $592M at a $8.9 billion market cap. The company's software is used to manage construction projects, including plans, schedules, logistics, and many other aspects of that business. Procore has been eyeing an IPO since 2019. The IPO looks to be the first in the technology sector for the Santa Barbara area since Sonos went IPO in 2018.