Company Research Report: Adaptive Build, Inc.

Company Overview

• Name: Adaptive Build, Inc.

• Mission of the company: No information is available.

• Founded: 2021 by Matthew Calvano, Henry Bradlow, and Francisco Enriquez.

• Headquarters: New York, NY

• Key People:

• Matthew Calvano

• Henry Bradlow

• Francisco Enriquez

• Number of Employees: Expected to grow from 29 to 45 by the end of 2021.

• Revenue of the company: No information is available.

• What is the company known for: Adaptive is known for providing AI-powered financial management platforms specifically tailored for the construction industry. It simplifies payments and accounting processes for general construction contractors.

Products

Overview

Adaptive Build, Inc. offers a comprehensive AI-powered financial management platform designed for the construction industry. The platform integrates expert customer support with automation features like bills, receipt capture, budgets, draws, and real-time reporting.

Products & Key Features

1. Automated Bills and Receipt Capture:

• Description: Automatically sorts and processes bills, receipts, and invoices using AI.

• Features:

• AI matches bills to jobs, line item, and cost code.

• Automates reconciliations and receipt capture.

2. Budgeting and Draws:

• Description: Tools for creating customizable budgets and draw schedules.

• Features:

• Real-time project reporting.

• Auto-generate draw packages in seconds.

3. Accounts Payable Automation:

• Description: Automates bills and subcontractor payments.

• Features:

• Approval workflows for bills.

• Vendor compliance management.

4. Lien Waivers Management:

• Description: Streamlines lien waiver process to reduce paperwork and ensure compliance.

• Features:

• Customizable templates.

• Digital signature collection.

5. Quickbooks Integration:

• Description: Synchronizes all transactions and data with Quickbooks.

• Features:

• Bi-directional sync for real-time updates.

• Auto-recording of expenses, bills, vendors.

Recent Developments

Fundraising

• Funding:

• In 2024, Adaptive raised $19 million in Series A funding, led by Emergence Capital. Other participants include Andreessen Horowitz, Definition, Exponent, 3kvc, Box Group, and Gokul Rajaram. The total capital raised amounts to $26.4 million.

Product Development

• Enhancements:

• Adaptive continually updates features to address compliance and automate financial workflows unique to the construction industry utilizing AI technologies.

Partnerships

• Strategic Growth:

• Focuses on acquiring subcontractor clients and plans to explore monetizing integrated payments, insurance, and payroll functions.

• Collaborations with prominent accounting firms and developers to drive efficiency and clarity for their clients.

Industry Recognition

• Awards:

• Recognized in 2024 as one of the 100 Most Innovative Fintech Startups by CB Insights for achievements in Financial Management and Accounting.

Conclusion

Adaptive Build, Inc. offers innovative solutions focusing on automating and managing the financial processes in the construction industry, addressing the critical need for efficiency, clarity, and reduced manual input in accounting workflows. The company's recent funding and industry partnerships hint at significant growth and expansion opportunities fortifying its mission to enhance financial management efficiency for construction businesses.