Adaptive's AI-Powered Platform Revolutionizes Construction Financing

Adaptive, a financial technology startup, has secured a million Series A funding round to scale its innovative artificial intelligence-powered platform designed to streamline financial operations for businesses in the construction industry. The platform, launched in February 2023, has already onboarded over 280 construction companies managing more than .4 billion in project volume, showcasing its rapid adoption and the industry's growing demand for digital solutions to address longstanding financial challenges.

Unlocking Efficiency and Accelerating Payments in the Construction Sector

Addressing the Challenges of Outdated Back-Office Processes

The construction industry has long grappled with payment delays and cash flow issues, often stemming from outdated, manual back-office processes. Adaptive's co-founder and CEO, Matt Calvano, recognized this pain point and developed a platform that leverages artificial intelligence and automation to provide real-time financial visibility and significantly accelerate payments. By cutting through the "back-office fog," Adaptive's solution aims to alleviate the common financial challenges faced by small- to medium-sized construction businesses.

Integrated Financial Ecosystem for Construction Stakeholders

Adaptive's platform is designed to create a connected financial ecosystem for the construction industry, linking developers, general contractors, and subcontractors. By integrating budgeting, cash flow analytics, expense tracking, accounts payable and receivable, vendor management, and electronic payments, the platform streamlines the entire financial workflow, enabling construction firms to focus on their core business operations.

Empowering SMBs in the Construction Sector

The construction industry is dominated by small- to medium-sized businesses (SMBs), which often struggle with the unique accounting and compliance requirements of the sector. Adaptive's platform is tailored to address the specific needs of these SMB construction firms, providing them with the tools and insights to manage their finances more effectively and efficiently.

Driving Operational Resilience and Transformation

According to the PYMNTS Intelligence report "Building Better Cash Flow in Construction with Digital Payments," 30% of construction firms are actively seeking technology solutions to improve their operations and resilience. Adaptive's platform aligns with this industry trend, offering construction companies the opportunity to accelerate payments, reduce financing costs, and streamline their back-office processes through the power of digital transformation.

Expanding Reach and Strengthening Partnerships

With the recent million Series A funding round, Adaptive plans to grow its team, reach more construction companies across the United States, and further expand its product into an integrated financial ecosystem. The company's partnership with Emergence Capital, a leading venture capital firm, and the addition of Emergence Capital General Partner Kevin Spain to Adaptive's board, signifies the industry's confidence in the platform's potential to redefine the way money moves within the construction sector.

Integrating with Existing Construction Technology Ecosystems

Adaptive's platform is not the only solution addressing the financial challenges in the construction industry. Trimble, a leading provider of construction technology, recently acquired Flashtract to add construction payment, compliance, and lien waiver capabilities to its existing ecosystem. This integration of complementary solutions highlights the growing demand for comprehensive, connected technology platforms that can streamline the entire construction lifecycle, from project management to financial operations.

Driving Innovation and Transformation in Construction Finance

Adaptive's innovative approach to solving the construction industry's financial challenges has been widely recognized as both timely and necessary. By leveraging artificial intelligence and automation, the platform aims to redefine how money moves across this critical sector of the economy, empowering construction firms to improve their cash flow, reduce financing costs, and enhance their overall operational resilience.