<ul data-eligibleForWebStory="false"><li>Parspec, a San Mateo, CA-based AI platform for the construction industry, secured $20 million in funding led by Threshold Ventures.</li><li>The platform aims to streamline construction procurement by leveraging AI to create submittals quickly and match project specifications with materials efficiently.</li><li>Parspec has shown impressive growth with over 200 customers, $10 billion in materials quoted, and 4x year-over-year revenue growth.</li><li>With the new funding, Parspec plans to enhance its AI features, expand globally, and strengthen collaborations, positioning itself as a significant player in construction tech.</li></ul>

Parspec Funded $20M to Modernize Construction Procurement

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