PermitFlow, a New York–based company offering an AI-driven platform for construction workflows, has raised $54 million in its Series B round.
The round was led by Accel, with participation from Kleiner Perkins, Felicis, Initialized Capital, Altos Ventures, Y Combinator, and other existing investors.
The company plans to use the new capital to advance product development across its expanding suite of AI agents. These tools include modules for permitting, inspections, and license management. The team also expects to hire across functions as demand from builders continues to grow.
Led by CEO Francis Thumpasery and CTO Samuel Lam, the company provides an AI-powered permitting and management platform used by residential builders, contractors, commercial developers, and renewable energy firms. According to the company, builders using the platform have shortened timelines by up to 60%, reduced administrative work by 90%, and achieved 5× ROI.
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