Adaptive, an agentic accounting platform built specifically for the construction industry, has raised $30 million in Series B funding as it expands its AI-powered approach to construction finance and accounting.

The funding round was led by Tidemark, with participation from existing investors Emergence Capital, Andreessen Horowitz, Pathlight, Definition and 3KVC. The latest financing brings Adaptive's total funding to $57 million.

The company plans to use the new capital to advance its Project Accounting Agents and expand their deployment across several areas of construction finance, including accounts payable, billing, compliance operations, job costing, payments and work-in-progress reporting.

Adaptive will also use part of the proceeds to grow its team across its offices in Boston and New York.

Bringing AI agents into construction accounting

Construction accounting presents a different set of challenges from conventional business accounting.

Finance teams need to understand not only financial transactions, but also what is happening at individual construction projects and how those developments affect costs, payments and profitability.

Information is often distributed across field teams, subcontractors, project managers and finance departments.

According to Adaptive co-founder and CEO Matt Calvano, one of the biggest challenges is not the accounting itself but obtaining accurate information from the job site and translating that information into financial decisions.

Finance teams may need to determine the true cost to complete a project, identify the correct cost code for an expense or determine how much a subcontractor should be paid.

These questions often require finance staff to communicate directly with people working in the field through calls, texts and emails.

Adaptive is building AI agents designed to handle part of this process.

Project Accounting Agents

The company's Project Accounting Agents are designed to gather information required by finance teams and then carry out accounting work based on that information.

The approach is different from traditional accounting software, which generally provides tools for employees to enter, organize and analyze financial information.

Adaptive's goal is to create what it describes as an agentic accounting platform, where AI systems can actively perform tasks rather than simply provide information to human users.

The company plans to expand the use of its agents across accounts payable, billing, compliance, job costing, payments and work-in-progress reporting.

This could allow construction finance teams to automate portions of workflows that currently require coordination between back-office employees and field personnel.

Connecting the back office with the construction site

Construction projects generate large amounts of operational and financial information.

Project managers and field teams may know what is happening on a job, while accounting teams need to translate those developments into financial records.

This creates a coordination gap.

For example, an accounting team may need to determine whether a particular expense belongs to a specific project or cost code. It may also need updated information about work completed, subcontractor obligations or the expected cost to finish a project.

If that information is not already available in the accounting system, someone has to contact the relevant people on the project.

Adaptive is attempting to automate this process by using AI agents to gather the necessary information and then perform the accounting tasks that depend on it.

Tidemark founder and managing partner Dave Yuan described the company as a "System of Action", highlighting the distinction between software that helps employees complete tasks and software that increasingly performs those tasks itself.

More than 750 construction operators

Adaptive says more than 750 construction operators currently use its platform.

Its customers include general contractors, specialty trades and real estate developers.

The breadth of its customer base reflects the variety of construction businesses that require project-level financial management.

General contractors can have complex relationships with subcontractors and suppliers, while specialty contractors may manage multiple projects with different cost structures. Real estate developers also need visibility into project costs, payments and work-in-progress positions.

Adaptive's focus on construction allows it to build its accounting workflows around these specific requirements rather than adapting a general-purpose accounting platform to the industry.

Tidemark leads the Series B

Tidemark led Adaptive's $30 million Series B.

The round also included existing backers Emergence Capital, Andreessen Horowitz, Pathlight, Definition and 3KVC.

The latest investment takes Adaptive's total funding to $57 million, providing the company with additional capital to expand both its product capabilities and its workforce.

Tidemark's Dave Yuan said Adaptive's platform is increasingly being used by construction finance teams as an important part of their technology stack.

The investor also highlighted Adaptive's focus on connecting back-office financial processes with information generated in the field.

Expanding beyond accounting workflows

Adaptive's next phase will extend its AI agents beyond core accounting activities.

The company plans to broaden deployment across accounts payable, billing, compliance operations, job costing, payments and work-in-progress reporting.

These functions are closely connected in construction.

Job-level costs affect billing. Billing and project progress affect cash flow. Subcontractor obligations affect accounts payable. Work-in-progress reporting depends on accurate information about project performance.

An agent that can access information across these workflows could potentially reduce the amount of manual coordination required between different departments.

The company's strategy therefore extends beyond automating individual accounting tasks. Adaptive is attempting to build a connected system that can understand project-level information and use it to execute financial workflows.

Construction accounting meets agentic AI

The funding comes as businesses across industries experiment with AI agents that can perform multi-step workflows.

Construction provides a particularly complex environment for this approach because financial information is closely tied to physical work happening on job sites.

An accounting system may know how much money has been spent, but understanding whether a project is financially on track can require information that exists outside the accounting system.

Adaptive's model is built around closing that information gap.

Its agents are intended to retrieve answers from the people and systems involved in a project and then use those answers to complete accounting work.

The company's long-term proposition is that construction finance teams could spend less time chasing information and more time reviewing financial outcomes and making decisions.

Growing the team in Boston and New York

Part of the $30 million financing will be used to increase headcount across Adaptive's Boston and New York offices.

The hiring will support the continued development and deployment of the company's Project Accounting Agents as it expands into additional financial workflows.

For an agentic accounting platform, scaling the technology also requires building systems that can operate reliably across different construction businesses, project structures and accounting requirements.

Adaptive's growing customer base provides an expanding environment in which to develop those capabilities.

What comes next for Adaptive

With $57 million in total funding and more than 750 construction operators using its platform, Adaptive is entering its next stage of expansion with a focus on agentic accounting.

The company's immediate priorities include developing its Project Accounting Agents and expanding their use across accounts payable, billing, compliance, job costing, payments and work-in-progress reporting.

The larger opportunity lies in connecting construction's operational and financial data.

Construction finance teams often depend on information generated by people working directly on projects, yet that information can remain separated from the systems used by accounting departments.

Adaptive is building around that gap, with AI agents designed to collect information, answer project-level questions and perform accounting work based on what they find.

The latest funding gives the company additional resources to turn that model into a broader accounting platform for construction businesses.