Adaptive, the leading financial automation platform working to transform how businesses in the $2 trillion construction industry manage their money has raised a $19 million Series A funding. The Series A funding will fuel Adaptive’s growth, supporting the expansion of its engineering and product teams and enhancing efforts to reach more construction companies across the United States.
Adaptive will focus on expanding its product into an integrated financial ecosystem that connects developers, general contractors, and subcontractors, delivering transparency and fast, accurate payments across the construction value chain.
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Nick Schiffer, founder of the Boston-based homebuilding company NS Builders and host of The Modern Craftsman podcast, said, “Managing cash flow and staying on top of project budgets is a full-time job in construction. Like most other homebuilders, we’re a small business; we operate on thin margins so we want all available staff time devoted to building the best possible product for our clients, not bookkeeping. The year before we started using Adaptive to automate our financial management, we lost out on over $100,000 of reimbursable expenses due to error-prone cost tracking. Every builder I know has the same problem and it leads to higher prices across the board.”
“The payment delays and cash flow problems we see in construction largely arise from outdated, manual back-office processes,” said Matt Calvano, Co-Founder and CEO of Adaptive. “Our platform leverages AI and automation to cut through this back office fog, delivering real-time clarity into financials and significantly accelerating payments.”
Founded in 2022, Adaptive has grown rapidly, with more than 280 construction companies managing over $1.4 billion of project volume on the platform. Adaptive serves a wide range of small to medium-sized construction businesses, including custom homebuilders, commercial general contractors, real estate developers, and specialty trades.
“Adaptive’s innovative approach to solving construction’s financial challenges is both timely and necessary. Adaptive is set to build a generational company and redefine how money moves across this critical part of the economy,” said Kevin Spain, GP at Emergence Capital, who will also be joining Adaptive’s Board. Emergence brings significant expertise to the table, having been early partners to both industry-defining vertical software companies such as Veeva, as well as payments innovators such as Bill.com.
About Adaptive
Adaptive is on a mission to bring financial clarity to the construction industry through advanced automation and AI. By eliminating back-office bottlenecks and streamlining payment processes, Adaptive’s platform enables construction companies of all sizes to improve their cash flow, profitability, and project efficiency. With a vision to become the standard network for construction payments, Adaptive is paving the way for a more transparent, efficient, and profitable construction industr
