# Parspec

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/parspec

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.parspec.io
- Total disclosed funding: $32M
- Latest round: Series A (Jul 8, 2025)
- Investors on record: 7

## About

Based in California, US, and founded in 2020 by Chief Executive Officer Forest Flager and Chief Technology Officer Pratyush Havelia, Parspec, Inc. operates as a logistic based company providing artificial intelligence-based software platform for managing the procurement process for construction materials. In July 2025, Parspec, Inc. raised USD 20 million in series A funding led by new investor Threshold Ventures, with participation from returning investors Innovation Endeavors, Building Ventures, Heartland Ventures, and Hometeam Ventures. Parspec, Inc. developed an AI-powered platform designed to empower electrical product experts. The company offers database and AI-powered workflows, offering three cloud-based tools – product finder, quoting, and submittals + O&M's. The product finder allows users to quickly identify spec-compliant alternates, leveraging AI to understand customer preferences. The quoting tool introduces a smarter way to bid, enabling teams to bid more efficiently and win more projects. Submittals + O&M's automate the creation of professional submittals and operation manuals, significantly reducing time and costs. The company generates revenue based on subscription model and USD 149 monthly for silver package. The firm charges USD 349 monthly gold package and USD 559 monthly for platinum package. It charges USD 1,084 monthly for diamond. The company will use the July 2025 funding for product development.

## Funding rounds

- Series A, Jul 8, 2025, $20M — Innovation Endeavors, Heartland Ventures, Building Ventures, Threshold Ventures, Hometeam Ventures, Great Wave Ventures, Tinicum Venture Partners
- Seed, Feb 27, 2024, $12M — Innovation Endeavors, Heartland Ventures, Building Ventures, Hometeam Ventures, Great Wave Ventures, Tinicum Venture Partners

## Investors

- Innovation Endeavors (https://capitalatlas.ai/funds/innovation-endeavors) — Seed, Series A
- Heartland Ventures (https://capitalatlas.ai/funds/heartland-ventures) — Seed, Series A
- Building Ventures (https://capitalatlas.ai/funds/building-ventures) — Seed, Series A
- Hometeam Ventures (https://capitalatlas.ai/funds/hometeam-ventures) — Seed, Series A
- Great Wave Ventures (https://capitalatlas.ai/funds/great-wave-ventures) — Seed, Series A
- Tinicum Venture Partners (https://capitalatlas.ai/funds/tinicum-venture-partners) — Seed, Series A
- Threshold Ventures (https://capitalatlas.ai/funds/threshold-ventures) — Series A