Procore Technologies Inc., a cloud-based construction software company, priced its shares in an initial public offering above a marketed range to raise $634.5 million.

The company sold 9.47 million shares for $67 each, according to a press release Thursday. It had marketed the shares for $60 to $65, an exchange filing showed.

Procore has a market value in the listing of more than $8.5 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission. Diluted to include employee stock options and restricted stock units, that value increases to at least $9.6 billion.

The listing is Procore’s second run at going public. Based in Carpinteria, California, it first filed in early 2020 for an IPO but postponed the transaction during the coronavirus pandemic. After the delay, it raised more than $150 million in a funding round from investors including Dan Sundheim’s D1 Capital Partners at a $5 billion valuation, Bloomberg News reported.

The company continued to attract new users during the pandemic, growing its customer base by 19% in 2020. With more than 40% of construction firms reporting higher costs and slower project completion due to labor shortages, the digitization of the industry has accelerated during the past year, the company said.

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