PCOR

What You Should Know

Procore Technologies, Inc. is a publicly-traded software company that provides a cloud-based construction-management platform used by owners, general contractors, and specialty contractors to manage project planning, preconstruction, field productivity, quality and safety, financials, and workforce across the building lifecycle. Developing and licensing construction-project software is a general-purpose technology activity that is unambiguously permissible at the activity level under standard Sharia methodology. Procore maintains a debt-free balance sheet with a substantial net-cash position, so it comfortably passes the debt-to-market-cap screen; the primary financial-screen consideration is the interest income generated by its cash and investments, a small portion of which should be purified. Subject to verifying ratios at the time of investment, most major Sharia advisory boards classify Procore as permissible with purification of small interest-income components.