How much funding has Parspec raised?

Parspec has raised $51.5M in total funding, most recently a Series A round.

Who are Parspec's investors?

Parspec's investors include Innovation Endeavors, Energize Capital, Building Ventures, Heartland Ventures, Hometeam Ventures.

Where is Parspec headquartered?

Parspec is headquartered in San Mateo, California, United States.

What industry is Parspec in?

Parspec operates in Construction Tech, SaaS, Supply Chain.

Parspec

AI for Construction Procurement — Find, Bid, and Supply Faster

San Mateo, United States · Founded 2021 · $51.5M raised

Construction Tech

SaaS

Supply Chain

Headquarters: San Mateo, California
Employees: 11–50
Founded: 2021
Business Model: B2B

Website: parspec.io
Total Funding: $51.5M
Last Round: $20.0M Series AMay 2026
Rounds: 3

About

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.

Summary

Parspec is a Construction Tech company based in San Mateo, United States, founded in 2021. It has raised $51.5M in total across 3 rounds, most recently a $20.0M Series A round in May 2026. Investors include Innovation Endeavors, Energize Capital and Building Ventures.

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