Monday, 10 May 2021 11:16

Procore acquires Indus.ai

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Construction management software provider Procore Technologies has acquired Indus.ai, a software company that develops and licenses its artificial intelligence construction analytics platform that counts trucks, materials arrivals, and measures equipment productivity.

Procore’s acquisition of Indus.ai also coincides with North America’s Construction Safety Week. The acquisition, Procore says, adds new vision capabilities to its platform: helping owners and general and specialty contractors realise greater efficiencies, safety, and probability.

According to Procore, the acquisition adds computer vision capabilities to the Procore platform, “helping owners, general contractors, and specialty contractors realise greater efficiencies, safety, and probability.”

The construction industry is experiencing a digital transformation, producing mountains of previously inaccessible data. However, 96% of data goes unused. Procore says Indus.ai’s artificial intelligence (AI) engine learns from project management platforms, cameras, sensors, drawings, building information models, schedules, and more—and creates observations, recommendations, and alerts that help project teams make data-driven decisions.

Indus.ai offers the following solutions: track and review construction progress, ensure safety and compliance, gain real-time project visibility, view labor deployment, minimise equipment idle time, and resolve claim disputes.

Tooey Courtemanche, Procore Founder and CEO, welcomes the acquisition. “Our customers depend on the Procore platform as their system of record. With our investments in analytics and AI, we’re becoming their system of intelligence and helping our customers unlock the value of their project data through powerful insights that enable better, data-driven decisions.”

Matt Man, Co-Founder and CEO of Indus.ai, says the company has been using computer vision and AI to improve the lives of construction professionals, freeing them up to focus on the most important parts of their projects.

“The Procore platform contains immense amounts of visual data, and we’re looking forward to transforming it into actionable construction knowledge together”, says Man.

Navin Kaminoulu, Co-Founder and COO of Indus.ai, enthuses, “I can’t think of a better way to acknowledge North America’s Construction Safety Week than for Indus.ai to join forces with Procore.”

“We’ve been a Procore App Marketplace partner since 2018, and we first partnered on a safety integration”, Kaminoulu recalls. “Together, we’ll keep making construction safer, more efficient and profitable.”

Indus.ai monitors over 100 million square feet of construction sites with its AI engine, which detects anomalies and progress. It is familiar with millions of images and has a grasp of videos specific to construction. It identifies more than 70 metadata labels per image.

The Indus.ai acquisition rests on Procore’s acquisition of Avata Intelligence in 2020, which brought “world-class AI talent” to Procore and is delivering smart automation solutions and predictive insights to Procore customers. Procore plans to integrate Indus.ai's capabilities into the Procore platform.

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Kenn Anthony Mendoza

Kenn Anthony Mendoza is the newest member of the iTWire team. Kenn is also a contributing writer for South China Morning Post Style, and has written stories on Korean entertainment, Asian and European royalty, Millionaires and Billionaires, and LGBTQIA+ issues. He has been published in Philippine newspapers, magazines, and online sites: Tatler PhilippinesManila BulletinCNN Philippines LifePhilippine StarManila Times, and The Daily Tribune. Kenn now covers all aspects of technology news for iTWire.com.

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