Procure in Australia? Doubtful, page-5

The biggest growth opportunity is market penetration, not market share.
Therefore having some competition evangelizing the need for this type of software can be good.
Edit - By market penetration I mean the number of companies buying this type of product.

Yes, I forgot to mention that point @lordsmasher

There is nothing wrong with competition. Especially when we have only 6% global market penetration this year, growing to 6.5% next year, with the global TAM at US $ 7.7 B this year and growing to US $8.4 B next year.

As Leigh Jasper put, the biggest competition is really contractors using their own in house systems or spreadsheets- that's still 94% of the TAM!

So any competition is good if it helps to raise awareness. Bring it on. No issue if Procore eventually do open an office in Australia- just don't think they will make it anytime soon. Happy to be proven wrong.

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This post is based on my own research and is not investment advice. When making investment decisions, always DYOR.