Procore Acquires New Orleans-Based Levelset for $500 Million

Levelset is a successful SaaS business born and raised in the Big Easy that has built a platform to help construction contractors and suppliers get paid faster and more seamlessly. Just announced, the company has been acquired by construction management software provider Procore for $500 million in a combination of cash and stock options.

I started Levelset to empower people in the worldwide construction industry to always get what they earn,” shared Levelset CEO Scott Wolfe, Jr. “Soon, we will get to do that together with Procore.”

Levelset’s announcement stated that both companies are mission-driven with customer-first products and people-first teams working to improve the construction industry. 

“The combination will accelerate our joint vision of connecting project stakeholders together to make payments faster, improve cash flow, and change the cost of risk.”

The acquisition is expected to be completed later this year.

For more information, head over to the Levelset blog.