Procore Releases New Products for Large Construction Owners

Called “concept projects,” the first owner tool is designed to evaluate early-stage initiatives alongside active work, compare investment options and route decisions through approval workflows before capital is committed. 

The second tool is “portfolio monitoring,” which provides centralized visibility into budget, schedule and risk across active projects. The capability allows owners to track performance in real time and drill into project-level details when issues emerge. 

The third capability, “owners hub,” provides personalized dashboards that surface information requiring attention, from financial trends to schedule performance and risk. Views are configurable by role, so leaders see the insights relevant to their decisions. 

The final offering, capital planning, was created to forecast future spending, prioritize investments and align long-term plans with active projects. 

Capital planning was designed to track where project funding comes from and how it gets spent, assist owners in managing multiple funding sources, compliance and financial accountability. The feature is essentially an asset management tool helping owners maintain digital records of their assets across the project lifecycle, linking equipment and spaces to documentation, maintenance history, warranties and project information needed to support decisions during construction and into operations.

“Owners aren’t waking up worried about just one project,” says Geoff Lewis, senior vice president of product at Procore.  “They’re thinking about hundreds of millions, sometimes billions, in capital spread across an entire portfolio. We’re building capital portfolio management capabilities directly into Procore to give owners that visibility in one place.”

Procore’s platform has long been used by large construction organizations and developers to monitor project health, despite its initial focus on the construction phase and the addition of these capabilities. 

Owners hub, portfolio monitoring, concept projects and asset management are in beta, with general availability planned for later this summer. Capital planning and funding source management are expected to enter beta later this month, with general availability planned for late 2026.

“Using Procore has really helped us make strategic planning decisions about where we want to spend capital in order to grow the business and focus on putting good dollars to work,” says Marc DiGuiseppe, vice president of project delivery at developer Catalyze, who used the new owner capabilities in testing phases of the products.