Adaptive Real Estate
Financial management software for construction
- 21-100 employees
- Fintech
- B2B
- Enterprise
- Construction
- SaaS
- Accounting
- Civic Center, New York, NY
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Company mission
To save construction teams time and money.
Our take
The construction industry has long faced slow payments, with companies waiting two to three months on average. In 2023, delayed payments cost the industry $273B or 14% of total project expenditures. The complex payment chain and lack of financial expertise in many small- and medium-sized construction businesses contribute to these delays.
Adaptive offers financial workflow automation tools to simplify budgeting, expense tracking, accounts payable, and payments. Customers can upload documents like insurance agreements and payment requests in various formats, and Adaptive's automation streamlines approval processes, reducing reliance on manual methods.
While the company is still young, it already serves over 280 customers, including homebuilders, contractors, and developers. With an attractive amount of funding to its name, the company plans to expand offerings for subcontractors and explore embedded finance, both of which are important steps in modernizing financial workflows for construction businesses.
Kirsty
Company Specialist at Welcome to the Jungle
Funding (last 2 of 3 rounds)
Jul 2024
$19m
SERIES A
Jul 2022
$6.5m
SEED
Total funding: $26.3m
This company has top investors
Leadership
Matt Calvano
(Co-Founder & CEO)Previously a Private Equity Associate at KSL Capital Partners. Prior to that, they were an Investment Banking Analyst at Morgan Stanley.
Henry Bradlow
(Co-Founder & CTO)Previously co-founded Lily Robotics. They also worked at SpaceX as a Guidance, Navigation and Control Engineer and at Lime as a Product Manager.