Summary
Agave, an AI platform for construction financials, raised a $15M Series A from Accel (which also led its Seed round) with continued participation from Y Combinator. The company has been profitable for over two years, tripled revenue year-over-year, and works with 500+ contractors from $5M to $5B+ in annual revenue. Agave's platform connects with 14+ ERP and project management systems to automate accounting, AP invoice processing, expense management, and vendor compliance for construction firms.
Key Facts
- $15M Series A led by Accel, with Y Combinator participation
- Total funding over $20M since founding in late 2021
- Profitable for over 2 years; tripled revenue YoY
- 500+ contractor customers (Evans General Contractors, Stacy Witbeck, Brinkman Construction)
- 80,000+ construction projects supported across US and Canada ($100B+ project volume)
- 14+ ERP and project management system integrations (Procore, Autodesk Forma Build)
- Customers report 60+ hours/month saved, 80% reduction in time on thousands of tasks
- 41% of construction workforce retiring in next 5 years; only 10% under 25
- Founders: Tom Reno, John Zucchi, Pooria Azimi
Why It Matters
Agave addresses a critical pain point in the $1.4 trillion US construction industry: financial workflows that rely on decades-old, on-premise systems without modern APIs. With 41% of the construction workforce retiring in the next five years, AI-powered automation of accounting and back-office work becomes essential. Agave's approach of augmenting existing systems rather than replacing them — and its profitability while scaling — makes it a standout in the construction tech space.