Procore Doubles Down on BIM, Empowering Contractors and Owners to Build Smarter
CARPINTERIA, Calif. & LONDON--(BUSINESS WIRE)-- Procore Technologies, Inc. (NYSE: PCOR), a leading technology partner for every stage of construction, today announced investments in its Building Information Modeling (BIM) capabilities. Expanding on its existing BIM offerings, Procore has announced its acquisitions of Novorender and FlyPaper, which upon integration will empower owners and contractors worldwide to unlock BIM, streamline coordination, and connect critical BIM data seamlessly across the Procore platform.
In recent years, BIM adoption has accelerated, driven by European government mandates and a rise in global megaprojects with complex data requirements, including data center construction and civil infrastructure projects. However, the full potential of BIM data often goes unrealized due to limitations in accessing and visualizing complex models effectively.
"We're excited to combine the power of Novorender and FlyPaper's best-in-class BIM solutions into the Procore platform. BIM is an accelerant in the future of data-driven construction, and these additions will supercharge Procore's existing BIM capabilities," said Steve Davis, President, Product & Technology, Procore. "Together, we're working to deliver the most performant model-based construction management platform for large, complex projects."
Procore Acquires Novorender to Advance BIM-Powered Construction Management
Founded by CEO Tore Hovland in 2016 in Stavanger, Norway, Novorender is one of the world's fastest 3D model viewers and BIM platforms. The company's 3D-rendering technology brings construction management beyond 2D, supporting every phase of the build lifecycle, from preconstruction to operations. Novorender's patented BIM technology can process and combine models at 25x the speed of current construction industry standards, making it much faster to bring all of the parts of a project together.
"We are thrilled to join forces with Procore to continuously bring BIM to the forefront of construction management," said Tore Hovland, CEO, Novorender. "Novorender's ability to render sizable models in seconds will exponentially increase Procore's BIM processing power, enabling project teams around the globe to integrate complex models with new speed and efficiency."
Procore Acquires FlyPaper Technologies to Power the Next Generation of AI-Model Detection
Procore is further building on its connected BIM offering with the acquisition of FlyPaper Technologies, makers of Navisworks plugin Sherlock. A longtime Procore technology partner, FlyPaper's advanced algorithm is already leveraged by some of Procore's ENR 400 customers. Once FlyPaper is integrated, Procore BIM customers can gain access to automated and streamlined 3D design coordination, clash detection, and collaboration to improve predictability, reduce rework costs, and bolster jobsite safety.
Upon integration, Procore's BIM offering will provide the global construction industry with visibility into the most complex BIM models, alongside integrated design coordination and clash detection capabilities to further simplify BIM throughout the course of construction.
For more information about Procore's BIM solutions, visit Procore.com.
Procore Technologies, Inc. (NYSE: PCOR) is a leading technology partner for every stage of construction. Built for the industry, Procore's unified technology platform drives efficiency and mitigates risk through AI & data-driven insights and decision making. Over three million projects have run on Procore across 150+ countries. For more information, visit www.procore.com.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
38 minutes ago
- Yahoo
China's Rare Earths Weapon Could Kill Europe's Auto Industry
China earlier this year introduced restrictions on its exports of rare earths. The move marked a new stage in the US- China trade spat, when the two sides no longer tried to out-tariff each other but took to more concrete steps. The problem is, the restrictions don't just apply to U.S. companies. And they may well deliver the fatal blow to Europe's struggling auto industry. China controls 90% of the world's rare earths processing capacity. It is the indisputable, if not exactly celebrated in the West, master of the rare earths industry. And now, it is using this position to make a point to trade partners that have gone above and beyond to restrict Chinese exports to their own countries and regions—essentially the same thing that Washington does when it uses the dominance of the dollar to sanction governments it doesn't see eye to eye with. Rare earths are used in a perhaps surprisingly wide variety of products. More specifically, it's rare-earth magnets that are troubling carmakers on both sides of the ocean. 'Without reliable access to these elements and magnets, automotive suppliers will be unable to produce critical automotive components, including automatic transmissions, throttle bodies, alternators, various motors, sensors, seat belts, speakers, lights, motors, power steering, and cameras,' the Alliance for Automotive Innovation, an industry body, wrote in a letter addressed to the Trump administration in early May. The letter, cited by Reuters in a recent report on the rare earths restrictions, is one of what looks like a cry for help that is only going to get louder. It was signed by auto industry leaders including Toyota, Volkswagen, and General Motors, which thanked the administration for trying to resolve the issue. If they didn't, the carmakers said, it would be only a matter of time before car factories started shutting same is happening in Europe, and it's worse—because with Trump, U.S. carmakers no longer have to worry about EVs. With the current European parliament and the Commission, local carmakers do have to worry about EVs, a lot. Because EVs feature greater amounts of those rare earths than internal combustion engine cars. And European carmakers have been mandated with the production and sale of certain minimum numbers of these EVs over the next three years. 'I informed my Chinese counterpart about the alarming situation in the EU car industry — the rare earth and permanent magnets are essential for industrial production… this is extremely disruptive for industry,' the European Union's trade commissioner, Maros Sefcovic, said this week, as quoted by the Financial Times. He added that the 'Carmakers are warning of huge production difficulties in a short period of time.' The clock, in other words, is ticking and China does not really seem in a hurry to stop it. The restrictions that Beijing implemented in mid-April are not literal—or direct. They are in the form of a new licensing regime for anyone who wants to buy rare earth magnets from Chinese producers. To do that, the prospective buyer needs to apply for a license, provide a substantial amount of information, and wait. As a Bosch spokesperson described it, the application process was 'complex and time-consuming, partly due to the need to collect and provide a lot of information.' Because of this complexity, only a few car parts suppliers have been granted such licenses, making the car companies' freak-out only a matter of time, really. But this is coming at a really bad time for European carmakers, despite the substantial rise in EV sales. They are still to turn in a solid profit on their electric cars and they are supposed to be making ever more of these—which means a lot more rare earths. Things are not that swell in the United States, either, after President Donald Trump accused the Chinese of violating a deal the two earlier agreed, on the temporary relaxation of trade warfare, including tariffs and other trade restrictions—only to be slapped back with the accusation that he did that first, by restricting semiconductor exports. Things are not looking good for the car industry right now but there is, as always, a silver lining. It consists in the fact that the world is entirely dependent on a single source of rare earths and this is not a sustainable or secure state of affairs. There has been a lot of talk in both Europe and the United States about building their own supply chains in such critical materials but action has not really been forthcoming. Even if it was, building a supply chain from scratch takes many years—just ask China. Yet the rare earths drama may boost Europe's resolve to actually start working on that supply chain, however long it takes to build it. Import dependence can be fatal. By Irina Slav for More Top Reads From this article on
Yahoo
38 minutes ago
- Yahoo
Starmer to visit Canada amid Trump threats
Sir Keir Starmer will visit Canada for security talks next week amid Donald Trump's threats to annex the country. The Prime Minister will meet Mark Carney, his Canadian counterpart, on June 14 for discussions concerning security and economic co-operation, according to The Times. It comes after the US president warned that he was prepared to wreck the Canadian economy in an attempt to force it to become the 51st US state. Mr Trump has already doubled tariffs on steel imports to 50 per cent, piling pressure on Ottawa following a meeting with Mr Carney in Washington. Fears have been raised of 'catastrophic' job losses, factory closures and disruption to supply chains in Canada in the wake of the tariffs. The UK is exempt from the 50 per cent tariff following a deal between London and Washington. But the US president, in a post on Truth Social, said there would be financial consequences of Canada remaining independent. He said the country would be faced with the $61 billion (£49 billion) cost of being covered by his proposed Golden Dome missile defence system. However, he added it would be 'zero dollars if they become our cherished 51st State'. The post was written hours after King Charles opened the 45th Canadian Parliament in May. During his speech the King underlined the Commonwealth country's sovereignty in 'dangerous and uncertain' times. Mr Carney told the Canadian broadcaster CBC he wished to join ReArm Europe, a plan designed to beef up European defence, in a drive to make Canada less reliant upon the US. The EU has also indicated it is looking to forge stronger ties with Canada given its links to Nato and the level of support it is offering to Ukraine. Mr Carney said: 'Seventy-five cents of every [Canadian] dollar of capital spending for defence goes to the United States. That's not smart.' The Canadian prime minister, in an interview with Sky News last month, was highly critical of Mr Starmer's decision to offer the US president a second state visit to the UK as the move had sparked fury in Canada. 'To be frank, we weren't impressed by that gesture … given the circumstance. It was at a time when we were being quite clear about the issues around sovereignty.' He made clear that the invitation for the King – Canada's head of state – to be in attendance at the opening of Parliament in Ottawa was 'not coincidental'. Sir Keir, who is yet to meet the former Bank of England governor since he won the Canadian election in April, wished to hold talks with Mr Carney due to them both being centre-left leaders within the G7. Number 10 has declined to comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Yahoo
an hour ago
- Yahoo
Luxury Real Estate Brokerage Rocked By Scandal Gets Surprise Takeover Offer Worth Twice Its Market Value
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Embattled real estate brokerage Douglas Elliman Inc. (NYSE:DOUG) saw its stock price briefly soar to almost twice its market value on May 27 following news of a takeover offer from rival Anywhere Real Estate (NYSE:HOUS), according to Bloomberg. The merger proposal would value the company at over $4 a share. However, Bloomberg reported that Elliman was unlikely to accept the offer, noting that the offer included selling the company's property management business as part of the deal. The proposed purchase would give Anywhere a sizable foothold in some of Douglas Elliman's key markets, including New York and Miami. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Invest Where It Hurts — And Help Millions Heal: Despite brand recognition and being involved in some of the biggest deals of the last few years, including hedge titan Ken Griffin's $238 million record-breaking penthouse purchase at 220 Central Park South, Douglas Elliman has seen its valuation tumble to $190 million from a peak of over $900 million in December 2021, when it was spun off into standalone company by the Vector Group (NYSE:VGR), Bloomberg reported. The biggest issue Douglas Elliman has faced in recent years is the fallout from lawsuits against former high-profile agents Tal and Oren Alexander. Although the brothers left the firm in 2022 to form their brokerage, Official, multiple allegations of rape and sexual assault saw them charged with sex trafficking by federal prosecutors. Their alleged crimes date back to their tenure at Douglas Elliman. According to a federal indictment handed down on Dec. 11, the brothers had conspired in their alleged sex trafficking since 2009. There were other scandals at the brokerage as well. Former CEO Howard Lorber retired last year after disclosing in an internal inquiry that he was intimate with two brokers, Bloomberg reported. Trending: This Jeff Bezos-backed startup will allow you to . Michael S. Liebowitz, Douglas Elliman's current CEO, has focused on implementing austerity measures, according to Bloomberg, and growing the firm's development marketing business. It has borne fruit, with the company reporting $253 million in revenue in the first quarter, a 26.5% year-over-year increase. 'By focusing on high-impact areas like Development Marketing, we're driving growth and reinforcing our position as the leader in the luxury market – delivering our highest first-quarter revenue since 2022 with significant reductions in operating losses,' Liebowitz said in a statement. 'We are optimistic about our trajectory, and we are committed to staying nimble in our core business. With our strong balance sheet as well as continued investment in the agent experience and new technologies, I am confident that we will continue to build long-term growth and enhance stockholder value.' The company recently launched its new digital platform, which includes Elliman Inspirations, an AI-powered home discovery tool that personalizes property searches and facilitates collaboration between agents and clients. Read Next: With Point, you can , which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. Image: Shutterstock This article Luxury Real Estate Brokerage Rocked By Scandal Gets Surprise Takeover Offer Worth Twice Its Market Value originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
