Agave, an AI platform focused on construction finance and back-office operations, has raised $15 million in a Series A funding round. The latest investment brings the company's total funding to more than $20 million since its launch in 2021.
The funding round was led by Accel, which also backed Agave during its seed stage. Existing investors, including Y Combinator, also participated in the round.
Agave said it will use the fresh capital to grow its team and expand its product offerings for construction businesses.
Construction companies often rely on multiple software systems to manage accounting, project finances, and administrative work. Many of these systems operate independently, creating manual processes and increasing operational complexity.
Agave develops AI tools that automate financial and back-office workflows while working alongside existing construction software. The platform also supports construction-specific financial tasks, including change order management and job profitability tracking.
According to Tom Reno, Co-founder and CEO of Agave, AI adoption in construction depends on improving existing software rather than replacing it.
He said the company's approach helps contractors automate repetitive tasks, connect business data across different platforms, and improve operational efficiency without requiring major software migrations or extensive employee training.
Over the past four years, Agave has built integrations with more than 14 enterprise resource planning (ERP) and project management platforms.
The company said these integrations enable end-to-end workflow automation instead of handling only isolated tasks.
Its platform connects with widely used construction software, including Procore and Autodesk Build, allowing contractors to access real-time financial information within their existing systems.
In addition, customers can create custom AI agents to automate business processes that standard software tools may not support.
Agave said customers have reported more than 80% time savings across thousands of monthly administrative tasks.
The company currently serves more than 500 general and specialty contractors. Its software is used across over 80,000 construction projects valued at more than $100 billion in the United States and Canada.
Vas Natarajan, Partner at Accel, said many AI companies focus on developing entirely new software platforms.
He noted that Agave takes a different approach by applying AI to the software businesses already use. According to him, this strategy helps construction companies improve productivity while addressing industry-specific operational challenges.
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