The funding round, led by Tidemark with participation from existing backers including Andreessen Horowitz and Emergence Capital, brings the company’s total capital to $57 million. Adaptive aims to deploy these resources to expand its Project Accounting Agents, which are designed to automate complex workflows ranging from job costing and billing to compliance and payment tracking.
Adaptive Secures $30 Million to Automate Construction Accounting
Construction accounting is plagued by a disconnect between the office ledger and the reality of the job site, where critical cost data often remains trapped in daily logs and email threads. Adaptive is betting $30 million in new Series B funding that its agentic platform can bridge this operational gap.
Unlike traditional accounting software that relies on manual entry, Adaptive pulls information directly from field schedules and superintendent logs. By processing this unstructured data, the platform handles invoice coding and change order management before human staff finalize the entries. CEO Matt Calvano notes that the primary challenge in the sector is not the accounting itself, but the labor-intensive hunt for project-level facts. With over 750 construction companies currently using the platform, the company plans to scale its teams in Boston and New York to meet demand from firms ranging from mid-sized contractors to billion-dollar developers.
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