Procore Moves Into the Owner’s Seat With AI-Powered Portfolio Tools

Construction software grew up serving contractors, Procore included. The people writing the checks, the owners and capital programs, mostly got tools never built for their job: project management software shaped around the contractor’s workflow, finance platforms that know nothing about construction, and spreadsheets bridging the gap.

On June 17, Procore (NYSE: PCOR) said it is going after that gap directly. The company announced a suite of capabilities aimed at owners and the full capital lifecycle: Concept Projects, Portfolio Monitoring, Owners Hub, Capital Planning, Funding Source Management, and Asset Management, all sitting on the Procore platform with Procore AI running underneath.

We also sat down with Geoff Lewis, Procore’s SVP of Product, for the longer story on why owners, and why now. You can watch the full conversation below.

A control room for the people funding the work

From one project at a time to the whole portfolio

Procore’s framing is that owners do not wake up thinking about a single project. They track capital across an entire portfolio, from early ideas through construction and into operations. Lewis put the scale of it bluntly, describing owners as responsible for “hundreds of millions, sometimes billions” in capital at any one time. The new tools aim to put that whole picture on one screen.

There is a real problem underneath the marketing. Plenty of capital projects still run against budgets approved 12 to 24 months earlier, before today’s costs showed up, and disconnected systems make it hard to see how any of it is tracking. Procore points to industry figures showing nearly 92% of large capital projects miss their original schedule and budget, running roughly 20 months late and about 80% over their first estimate on average.

Those are figures Procore cites rather than fresh research. The underlying problem is real, though: when project data is scattered across systems, risk is hard to see coming.

Six tools across one capital lifecycle

Plan it, fund it, build it, run it

The suite breaks into six pieces, each aimed at a different stage of an owner’s job. Concept Projects lets owners weigh early ideas next to live work, compare options, and route them through approvals before capital gets committed. Portfolio Monitoring and the Owners Hub handle the day-to-day: central visibility into budget, schedule, and risk across active projects, plus dashboards configurable by role.

Capital Planning swaps the spreadsheet for a live capital plan, so owners can forecast spend, prioritise investment, and keep long-term plans aligned with active jobs. Funding Source Management tracks where project money comes from and how it gets spent, which matters when you are juggling grants, bonds, and other sources with compliance strings attached.

Last, Asset Management keeps a connected digital record of an owner’s assets across their life, linking equipment and spaces to the documentation, maintenance history, warranties, and project context. A Procore customer at Catalyze said it has helped them make sharper calls on where to put capital.

What Procore AI does in the owner’s seat

Risk-spotting, not a chatbot

Procore AI is embedded across the suite rather than bolted on. With Deep Search, users can ask questions about a project and get answers grounded in its specs, submittals, and field documentation. Across a portfolio, it is built to surface emerging financial, schedule, and operational risk and to trigger workflows automatically on project events.

For owners, Procore frames the AI less as a chatbot and more as a portfolio analyst. Lewis described an owner asking which project to focus on, with Procore AI weighing schedule and budget risk and pointing them at the few that need attention. Underneath sits Datagrid, the AI company Procore acquired and folded in as Procore AI, which reads a project’s documents and answers questions grounded in them. Lewis was clear the bar is high: in construction the cost of getting something wrong is large, so the AI stays human-directed. For more, see our breakdown of its three-pillar AI strategy.

Watch the full conversation with Geoff Lewis

We got into AI hype, the owner launch, and why Procore says the bar for AI in construction is so high.

Why owners, and why now

From accidentally useful to purpose-built

Procore already has around 4,000 owner customers, Lewis said on the show, spanning retailers, utilities, data center operators, and multifamily builders. The catch is that a lot of them landed there by accident: tools built for general contractors, the budgets and schedules and inspections, happened to work for owners too.

Over the past 18 months, Lewis said, Procore has been turning that accident into intent, effectively splitting its platform into three purpose-built products, one each for owners, general contractors, and specialty contractors, all on the same foundation. Procore is the clear leader in the US general contractor market, by his own description, so this is a company extending a product it already dominates into the owner’s seat.

For owners, the pull is one place to plan capital and watch a portfolio, instead of collecting data from contractors and architects who do not work for them. When those firms already run Procore, Lewis said, that information flows into the owner’s view through Procore Connect, which is a big part of the pitch. Procore has bought its way into new ground before too, from its $500M Levelset deal, which fed Procore Pay, to its Novorender acquisition.

When you can actually get it

Beta now, general availability through 2026

Owners Hub, Portfolio Monitoring, Concept Projects, and Asset Management are in beta now, with general availability planned for summer 2026. Capital Planning and Funding Source Management are due to hit beta later this month, with general availability planned for late 2026.

Procore is pointing people to its owners page and to its June Innovation Summit for the full walkthrough. And if you want the unfiltered version of the strategy, the conversation with Geoff Lewis is up on our channel.

Related Articles
Inside Procore’s AI Strategy: A Conversation with their VP of Product Data & AI
Lessons From Levelset’s $500M Exit To Procore
Inside Procore’s Novorender Acquisition