About Parspec
Parspec is a company based in San Francisco (United States) founded in 2020 by Pratyush Havelia and Forest Flager.. Parspec has raised $31.5 million across 3 funding rounds from investors including Innovation Endeavors, Building Ventures and Heartland Ventures. Parspec offers products and services including Product Finder, Quoting Tool, and Submittals + O&Ms. Parspec operates in a competitive market with competitors including Kojo, Constrafor, Field Materials, concorfmaterials and Bundle, among others.
- Headquarter San Francisco, United States
- Founders Pratyush Havelia, Forest Flager
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Sectors
Real Estate & Construction
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Parspec, Inc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$31.5 M (USD)
in 3 rounds
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Latest Funding Round
$20 M (USD), Series A
Jul 08, 2025
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Investors
Innovation Endeavors
& 5 more
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Employee Count
Employee Count
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Products & Services of Parspec
Parspec offers a comprehensive portfolio of products and services, including Product Finder, Quoting Tool, and Submittals + O&Ms. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
AI tool for identifying spec-compliant product alternatives and preferences.
Platform for automated pricing and bidding to win more jobs.
System for creating accurate submittals and operations manuals quickly.
Unlock access to complete
Funding Insights of Parspec
Parspec has successfully raised a total of $31.5M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $20 million completed in July 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series A — $20.0M
- First Round First Round
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2025 | Amount | Series A - Parspec | Valuation | Threshold | |
| Feb, 2024 | Amount | Seed - Parspec | Valuation | Innovation Endeavors | |
| Sep, 2021 | Amount | Seed - Parspec | Valuation | Heartland Ventures , Innovation Endeavors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Parspec
Parspec has secured backing from 6 investors, including venture fund investors. Prominent investors backing the company include Innovation Endeavors, Building Ventures and Heartland Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage technology investments are targeted by this venture capital firm.
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Founded Year | Domain | Location | |
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Building Ventures is focused on investing in built environment innovations.
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Founded Year | Domain | Location | |
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Investments are directed by Heartland Ventures toward Midwest tech firms.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Parspec
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Parspec
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Parspec Comparisons
Competitors of Parspec
Parspec operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Kojo, Constrafor, Field Materials, concorfmaterials and Bundle, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
A materials procurement platform is provided for construction contractors.
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| domain | founded_year | HQ Location |
Provider of cloud-based procurement software for the construction industry
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| domain | founded_year | HQ Location |
Procurement management solutions are offered for construction sector operations.
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| domain | founded_year | HQ Location |
Procurement management solutions are provided for construction professionals.
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| domain | founded_year | HQ Location |
Building materials procurement is enabled via an online marketplace.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Parspec
Frequently Asked Questions about Parspec
When was Parspec founded?
Parspec was founded in 2020 and raised its 1st funding round 1 year after it was founded.
Where is Parspec located?
Parspec is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Who is the current CEO of Parspec?
Forest Flager is the current CEO of Parspec. They have also founded this company.
Is Parspec a funded company?
Parspec is a funded company, having raised a total of $31.5M across 3 funding rounds to date.
What does Parspec do?
Parspec was founded in 2020 and is based in San Francisco, United States. An AI-powered platform is operated by the company to assist sales agents and distributors in the construction industry. Core functions include product selection, quoting processes, and submittal preparation. Efficiency in operations is supported through these tools, with focus on the North American market. Leadership is provided by co-founders Pratyush Havelia as CTO and Forest Flager as CEO.
Who are the top competitors of Parspec?
Parspec's top competitors include Kojo, Constrafor and Field Materials.
What products or services does Parspec offer?
Parspec offers Product Finder, Quoting Tool, and Submittals + O&Ms.
Who are Parspec's investors?
Parspec has 6 investors. Key investors include Innovation Endeavors, Building Ventures, Heartland Ventures, Hometeam Ventures, and Threshold.