Parspec, a San Mateo, CA-based AI-native software platform, raised $20M in Series A funding. The round was led by Threshold Ventures, with participation from existing investors. The funds will expand the platform for better collaboration in the construction sector. Parspec supports hundreds of distributors and has seen 4x revenue growth in the past year.
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Company Information
Company
Parspec
Location
San Francisco, California, United States
About
Parspec is revolutionizing the materials supply chain for the $15 trillion global construction industry by digitizing and organizing the industry's product data. Our proprietary AI technology maintains a current and comprehensive catalogue of millions of products, enabling our customers to identify products that best meet their needs–instantly. Trusted by top designers, builders, distributors, manufacturers, and sales agents, and backed by leading venture investors, Parspec is paving the way for a more innovative, connected, and sustainable future in construction.
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