Procore

“And these companies are worth an impressive two hundred and sixty seven billion dollars and include some companies that Bessemer is really proud to work with, such as Procore, Toast, HashiCorp, and Canva.”

“If you're a project manager on a Eddie Murphy's house or A nuclear power plant or a Whatever, a waste treatment plant or a wind farm. You basically are dealing with the same set of problems. They just are different scales and they might have different terminol…”

“So there's a lot of nuances to all of this, but we do find you got to hire sales people that understand sales and teach them construction.”

“I think in the first Nine years of Procore's existence, we raised five million dollars, right?”

“And the vertical market like Procore is you have one chance to make a good impression with your brand. And if you make a bad impression, you're essentially doomed in that market.”

“And so he basically wrote us a check for like, 300,000 bucks and basically to keep us alive. And that check alone saved Procore. In fact, he's been on our board for 20 years.”

“For now, we're not looking to create a product line around this. That's going to be separately monetized. Now that's always open for debate. We really want to get more feedback from our customers before we make any sort of decision on that.”

“Our customers tell us that they can run 50% more construction volume on through their business if they're running on the Procore platform than if they're not.”

“The incumbent software for our entire history, whenever we go into an account has always been pen and paper or really Microsoft office.”

“By the way, during the great financial crisis, which is when everything changed to Procore, was all of our custom home builders went out of business. Like literally every customer we had, and the world stopped for eight months.”

“Cause when we duck dove that way with 30 other surfers, we're the only ones who came up the other side. Everybody did. ... Yeah, it was an extinction level event, which gave us this huge advantage too, of buying us more time to capture the market share.”

“We had two versions of our product. We had a full version for 195 dollars a month and a truncated version for 95 dollars a month.”