“This was a very strong year for our financial management projects,” CFO Paul Lyandres, said during the week’s webcast for earnings for 2021, the first year the construction software operation has reported as a public company. Procore lost $265.2 million in the most recently completed year, a sharp increase from a loss of $96.2 million for 2020. The company sharply increased spending to deal with the recovery of the construction market. Revenue for 2021 was $416.5 million, up 26.7 percent from $328.6 million the prior year. Lyandres pointed to an acceleration in spending for sales and marketing. Twelve hundred of the company’s 2,800 employees are in sales and marketing with the head count there growing47 percent year over year. Overall, S&M and customer success spending rose 63.2 percent to $308.5 million from slightly more than $189 million. Lynandres pointed to the growth of international sales, which now comprise 15 percent of revenue, by 56 percent year-over-year. The company also expects to spur growth through its establishment of the Procore Construction Network last in the prior year. ”It will better enable us to convert collaborators into customers,” CEO Tooey Courtemanche said.