Agave Raises $15M in Series A Funding Led by Accel

The company will use the funding to grow its team and expand its product offerings. Its software already helps hundreds of contractors improve productivity by automating accounting and other back-office tasks.

The funding comes after a period of strong growth for Agave. The company has been profitable for more than two years, tripled its revenue over the past year, and now serves more than 500 general and specialty contractors with annual revenues ranging from $5 million to over $5 billion.

Agave's customers operate across commercial, civil, and residential construction, as well as trades such as electrical, roofing, and concrete. Its client list includes Evans General Contractors, Stacy Witbeck, Brinkman Construction, Satterfield & Pontikes, and RW Dake.

Today, Agave is used on more than 80,000 construction projects across the U.S. and Canada, representing over $100 billion in project value. Customers say the platform saves them more than 60 hours each month by automating tasks such as data entry, financial reporting, and cost reconciliation.

Agave's platform helps construction companies connect their financial and project management systems instead of replacing them. It brings real-time financial data from ERP systems into platforms such as Procore and Autodesk Forma Build, while also automating invoice coding, reconciliation, and the import of credit card transactions into ERP systems.

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The platform also speeds up vendor onboarding by reviewing insurance documents against company requirements before vendors are approved for work and payment. In addition, customers can create their own AI agents to automate unique business processes. Users report reducing the time spent on thousands of monthly tasks by more than 80%.

Agave helps construction companies address a growing workforce shortage as many experienced workers near retirement and fewer young people enter the industry. Its platform captures valuable knowledge, automates routine tasks, and helps teams work more efficiently with AI-powered tools.

"Most energy in AI goes into building new software. The bigger opportunity is deploying AI to operate on systems companies already depend on, helping enterprises get more out of what they have today," said Vas Natarajan, Partner at Accel. "Agave does this for construction, going straight at the messy, domain-specific problems most teams avoid. It's a rare combination of experienced team and market need, and they're the ones to capitalize on the opportunity."

“AI adoption in construction won't come from replacing existing systems, but from enabling AI to work seamlessly with them," said Tom Reno, cofounder and CEO of Agave. "Agave helps contractors unlock the value of AI on top of the tools that already run their business, turning siloed data and manual processes into streamlined workflows that allow contractors to take on more jobs at higher margins, without painful system migrations or training an army of new employees."

About Agave

Founded in 2021 by Pooria Azimi, Tom Reno, and John Zucchi, Agave provides an AI-powered financial platform for the construction industry. Its software connects with more than 14 ERP and project management systems, helping general and specialty contractors automate tasks such as invoice processing, expense management, vendor compliance, analytics, and custom AI workflows.

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