Parspec
AI for Construction Procurement — Find, Bid, and Supply Faster
San Mateo, United States · Founded 2021 · $51.5M raised
- 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
Totals include recorded grants and other qualifying funding, not just equity. What counts toward funding.
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.
Tech & App Stack
6 technologies & apps tracked
Every product and vendor across these categories, with where each signal came from.
Create a free account with 25 free credits every month, no card needed, to unlock the full tech & app stack, funding history, and valuations.
Funding History
May 2026
Sign up to see all 3 events
Funding: Series A. Amounts, valuations, and investors where available.
Investors
Similar Companies
Flexport uses AI-powered logistics technology to help businesses manage global freight, customs, ...
GHX is a cloud-based supply chain technology company that connects healthcare providers, supplier...
Construction management platform connecting field and office to manage projects, finances, schedu...
Cloud platform connecting buyers and suppliers for e-invoicing, AP automation, supply chain payme...
Appears in
Your company? Embed this profile
Add the live badge to your site — it stays current as your funding data updates.
<a href="https://indexed.vc/companies/parspec"><img src="https://indexed.vc/api/badge/company/parspec" alt="Parspec on Indexed.vc" width="260" height="76" /></a>