Adaptive, a NYC-based provider of a financial automation platform for the construction industry, raised $19M in Series A funding.
The round, which brought the total amount to $26.4M, was led by Emergence Capital with participation from Andreessen Horowitz, Definition, Exponent, 3kvc, Box Group, and Gokul Rajaram.
The company intends to use the funds to expand its product into an integrated financial ecosystem that connects developers, general contractors, and subcontractors, delivering payments across the construction value chain.
Led by CEO Matt Calvano, CFO Francisco Enriquez, and CTO Henry Bradlow, Adaptive aims to bring financial clarity to the construction industry through advanced automation and AI. By streamlining payment processes, its platform enables construction companies of all sizes to improve their cash flow, profitability, and project efficiency. The system offers end-to-end financial management, including budgeting, cash flow analytics, expense tracking, accounts payable, accounts receivable, vendor management, and electronic payments.
FinSMEs
15/07/2024