This round, led by Accel, with participation from Kleiner Perkins, Felicis, and other existing investors, allows the company to accelerate AI innovation in construction. PermitFlow is positioned now, more than ever, to lead the charge in facilitating housing affordability, clean energy availability, infrastructure renewal, and economic growth — all powered by construction.
We’re thrilled to announce that PermitFlow has raised a $54 million Series B funding round, led by Accel with participation from Kleiner Perkins, Felicis, Initialized Capital, Altos Ventures, Y Combinator, and our other existing investors.
Since launching in 2021, we've scaled our construction platform and AI agents to power over $20 billion in construction value nationwide, becoming the leading AI platform in the construction industry. That momentum has allowed us to earn the trust of top builders like Amazon, Lennar, Service Experts, IKEA, and Toll Brothers. It also furthers our missions of improving housing affordability, clean energy availability, infrastructure renewal, and economic growth.
“Builders are the backbone of America. They put families in homes, build and enhance critical infrastructure, and shape our communities. Yet the systems behind that progress are decades old,” said Francis Thumpasery, Co-Founder & CEO of PermitFlow. “We’re changing that by bringing AI to construction and empowering builders to turn plans into progress faster than ever.”
Builders using our platform have shortened timelines by up to 60%, cut workloads by 90%, and achieved 5x ROI. These outcomes are powered by our proprietary data set of more than 12 million permitting data points that fuel our agents and automations. By automating the fragmented workflows that slow down building, we’re helping construction teams move projects forward with greater speed and confidence.
“Outdated construction workflows remain one of the biggest barriers to addressing housing affordability, modernizing infrastructure, and scaling clean energy,” said Samuel Lam, Co-Founder & CTO of PermitFlow. ”We’re building AI agents that power the physical world, proving that smarter construction can solve America’s challenges around supply constraints and affordability.”
This milestone builds on rapid momentum and innovation since our Series A last year, including 10x revenue growth and the launch of new AI Agents for Inspections, License Management, and more. With this funding, we’ll continue expanding our team and technology to modernize the construction systems powering the trillion-dollar U.S. construction industry.
Join us in building the technology powering the future of construction.
