$20M for Parspec’s AI Approach to Construction Supply Chains

“The technology used by the sell side of the industry has been relatively the same for a few decades now… but this workflow is highly specialized.”- Forest Flager, CEO and co-founder of Parspec Dealing with slow, manual procurement workflows, sales agents and distributors struggle to match customer specifications to products, suppliers, and documentation. Parspec, a California-based startup founded in 2021, is betting that its AI-native platform can untangle this mess. The company recently announced a $20 million Series A funding round led by Threshold Ventures, bringing its total funding to $31 million. Its product: an AI-native platform for construction materials procurement, starting with mechanical, electrical, and plumbing (MEP) systems: segments that account for a quarter