Parspec

Parspec is an AI-native construction supply chain software company founded in 2021 by Forest Flager and Pratyush Havelia, headquartered in San Mateo, California. The platform uses multimodal AI models to extract requirements from design drawings and specification documents, surfacing ranked spec-compliant products from a database of over 6 million construction products. Key tools include a Product Finder, quoting module for bid creation, and automated submittals and O&M documentation. Parspec has experienced 4x revenue growth over the past 12 months and serves 288 customers primarily in the mechanical, electrical, and plumbing (MEP) verticals. Raised $20M Series A in July 2025 led by Threshold Ventures, with total funding of $31M.