Parspec, Inc.
Have updates for this profile? Please contribute data
= Subscriber Access Only
You are viewing a preview of this profile. Request a Preqin Pro demo for full access to all profiles and underlying data.
With Preqin Pro, you gain an unobstructed view of all alternative asset class activity across institutional investors, fund managers, funds, portfolio companies, deals, exits, and service providers.
Parspec, Inc. - overview
Established
2020
Location
San Francisco, CA, US
Primary Industry
Software
About
Based in California, US, and founded in 2020 by Chief Executive Officer Forest Flager and Chief Technology Officer Pratyush Havelia, Parspec, Inc. operates as a logistic based company providing artificial intelligence-based software platform for managing the procurement process for construction materials. In July 2025, Parspec, Inc. raised USD 20 million in series A funding led by new investor Threshold Ventures, with participation from returning investors Innovation Endeavors, Building Ventures, Heartland Ventures, and Hometeam Ventures.
Parspec, Inc. developed an AI-powered platform designed to empower electrical product experts. The company offers database and AI-powered workflows, offering three cloud-based tools – product finder, quoting, and submittals + O&M's. The product finder allows users to quickly identify spec-compliant alternates, leveraging AI to understand customer preferences.
The quoting tool introduces a smarter way to bid, enabling teams to bid more efficiently and win more projects. Submittals + O&M's automate the creation of professional submittals and operation manuals, significantly reducing time and costs. The company generates revenue based on subscription model and USD 149 monthly for silver package. The firm charges USD 349 monthly gold package and USD 559 monthly for platinum package.
It charges USD 1,084 monthly for diamond. The company will use the July 2025 funding for product development.
Current Investors
Innovation Endeavors, Heartland Ventures, Building Ventures
Primary Industry
Software
Sub Industries
Analytics & Performance Software, Application Integration Software, Customer Relationship Management
Website
www.parspec.io
Verticals
Artificial Intelligence, Cloud Computing, RegTech
Company Stage
Series A
Total Amount Raised
Subscriber access only
Time to go Pro
Get Preqin Pro for unrestricted access to 600,000+ detailed profiles on fund managers, investors, funds, companies, and other alternative asset players. Unlock exclusive data on future plans, company financials, fundraising history, track records, and more.