Another promising SaaS IPO is coming up. Backers include Tiger Global Management and Iconiq Capital.
Alex Clayton digs in :
"Procore is one of the more impressive vertical SaaS companies to file an S-1. Software is permeating every business workflow inside an enterprise and the construction industry is no different. Procore even mentions in their S-1 “in short, we build software that helps build the world”. While the industry is still lacking in its adoption of software, the market is massive and Procore is the leading, independent cloud-based player. Moreover, just over 10% of revenue is from international customers which represents a huge growth opportunity for the business.
With that said, based on a review of the S-1, Procore may be the most exciting vertical-specific SaaS company to file since Veeva did so in 2013, which has had an incredible run. It wouldn’t be surprising to see Procore follow their path." :