SAN MATEO, CA, Parspec, an AI-native software platform that enables wholesale distributors and sales agents to efficiently bid and supply construction products, has raised $20 million in Series A funding.
The round was led by Threshold Ventures (formerly DFJ), with participation from existing venture investors including Innovation Endeavors, Building Ventures, Heartland Ventures, and Hometeam Ventures.
Parspec is a technology company that is focused on streamlining the business-to-business procurement process for construction materials, starting with mechanical, electrical and plumbing products. Founded in 2021 by Forest Flager and Pratyush Havelia and headquartered in San Mateo, California, Parspec's AI-native software platform empowers distributors and sales agents to bid more jobs, increase revenue, and reduce cost of sales with advanced tools for product selection, quoting, and submittal preparation. Parspec has raised $31 million dollars to date from leading deep tech and construction technology venture investors.
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