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Venture Capital News: Parspec Grabs $11.5M Seed Round

2024-02-27
PALO ALTO, CA, Parspec, an AI-powered software platform that streamlines the selection and sale of construction products, today announced its oversubscribed $11.5 million seed round.
Innovation Endeavors led the investment, with participation from Building Ventures, Heartland Ventures, and Hometeam Ventures. Two investors joined the board in connection with the investment: Innovation Endeavors' Josh Rapperport as a board member and Building Ventures' Allen Preger as a board observer.

Parspec is a technology company focused on streamlining the procurement process for construction materials, starting with lighting and electrical products. Founded in 2021 and headquartered in San Mateo, California, Parspec's AI-powered platform supports product selection, quoting, and submittal preparation for sales agents and distributors.
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