Construction management software provider Procore Technologies has agreed to acquire DroneDeploy, an aerial and ground reality capture and robotics platform, in a transaction valued at $845 million that is expected to close later this year.
The proposed acquisition will connect DroneDeploy’s visual intelligence from active construction sites and operational assets with Procore AI to drive real-time visibility into daily operations and autonomous action within Procore's platform for construction teams.
Procore says this connection of project data to jobsite reality is core to its AI strategy and evolution from a system of collaboration and record to the system of intelligence for construction.
DroneDeploy provides perception through three-dimensional ground and aerial imaging, spanning drones, ground-deployed robots, and mobile, fixed and wearable cameras. Together with Procore AI, construction teams will be able to automatically document observations, identify issues earlier and take actions to improve how projects get built.
Sample integrations include:
- Manual jobsite inspections and observations replaced by multi-modal perception capabilities.
- A range of cameras, drones and robots regularly assessing the construction site and automatically initiating appropriate responses.
In the future, Procore will incorporate real-time perception, advanced reasoning and a secure, collaborative and auditable platform where actions drive the field and back office, the company says.
Powered by“Once the acquisition closes, we plan to immediately cross-sell DroneDeploy’s solutions into our broader customer base and vice versa,” said Ajei Gopal, president and CEO of Procore. “For the longer term, adding DroneDeploy’s technology into the Procore platform will enable us to accelerate our AI strategy and deliver digital coworkers that track what's happening on a project, make sense of it, and then take action to change the outcome.”
"DroneDeploy was built to give people who build, power, and feed our world a source of truth about the physical site. Over the last decade, our customers have consistently told us the same thing—they want reality capture to be a native part of how they work, not another tool bolted on,” said Mike Winn, CEO of DroneDeploy. “Joining Procore accelerates that mission. Going forward, we remain committed to delivering the best ground and aerial reality capture solutions—deeply integrated into Procore to drive automated action—while building on our early investments in AI and robotics. We're excited to build what's next together."
Procore says its record of construction decision-making encompasses nearly 400 million photos, over 126 million drawings and over 10 million RFIs, submittals and inspections in the last year. DroneDeploy is used on over 3 million jobsites across more than 180 countries.
The acquisition is subject to customary purchase price adjustments, closing conditions and required regulatory approvals.
