Procore Technologies has essentially swapped jobs of two of its top executives. CFO Rusty Reed, who had held the job since May 2014, was named to the newly created position of chief strategy officer.

Paul Lyandres, head of strategy and corporate development since 2014, moved into the CFO position. Both men have backgrounds in venture investing. Procore said when the men joined the company had less than $10 million in annual revenue and has grown to more than $250 million in annual recurring revenue. They helped the company raise more than $200 million and the company’s recent valuation was given as $3 billion. Lyandres, an investor at Bessemer Venture Partners, lead that firm’s investment Procore. Reed invested in the construction software company in 2006.

Last modified on Thursday, 11 July 2019
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