(Bloomberg) -- Procore Technologies Inc. is working with Goldman Sachs Group Inc. to lead a U.S. initial public offering that could value the construction-management software maker at more than $4 billion, according to people with knowledge of the matter.
The company is preparing an IPO for this year or early next year, said one of the people, asking not to be identified because the information is private. The company is on track to generate more than $400 million in revenue this year, this person said.
Procore's IPO plans aren't finalized and could change, the people said.
A representative for Procore couldn't immediately be reached for comment. A representative for Goldman Sachs declined to comment.
Procore would join a flurry of enterprise software IPOs that have delivered some of the best debut performances this year.
Datadog Inc. rose as much as 53% in its trading debut Thursday, after rejecting a takeover offer from Cisco Systems Inc. Ping Identity Holding Corp. gained as much as 32% in its first day of trading Thursday.
Procore makes software that lets building owners, developers and contractors manage and collaborate on projects, according to its website.
It has raised more than $200 million and was most recently valued at $3 billion, according to a statement in July. It reported more than $250 million in annual recurring revenue, it said in the statement.
Backers include hedge fund Tiger Global Management and Iconiq Capital, which manages money for billionaires including Facebook Inc. co-founder Mark Zuckerberg.
To contact the reporters on this story: Liana Baker in New York at lbaker75@bloomberg.net;Crystal Tse in New York at ctse44@bloomberg.net
To contact the editors responsible for this story: Liana Baker at lbaker75@bloomberg.net, Michael Hytha, Matthew Monks
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