Adaptive raises $30m Series B for construction accounting agents
Tidemark led the round to expand Adaptive’s accounting workflows across job costing, payables, billing and compliance.
Connecting field updates with construction finances
Adaptive links job schedules, daily logs and field updates with accounting records so construction finance teams can keep project costs, work in progress and forecasts current. Its agents can code invoices to jobs and cost codes, prepare billings and flag change events, while people review actions before they reach the general ledger.
The platform integrates with more than 10 accounting systems and works with over 40 accounting firms, according to the company. The Series B will expand its Project Accounting Agents and teams in Boston and New York; the round brings reported total funding to $57 million.
Use of funds
Expand Project Accounting Agents across job costing, accounts payable, billing, WIP, payments, and compliance
Expand teams in Boston and New York