Total amount raised
$31.5 Million
Latest funding date
2025-07-08
Location
Parspec is an AI-powered platform designed to assist with product selection, quoting, and submittals, offering tools like Product Finder, Quoting, and Submittals + O&Ms. The platform aims to enhance productivity, increase bid success rates, and improve profitability for its users.
Keep reading to explore the intricacies of Parspec's fundraising journey and the investors backing this innovative platform.
What Is Parspec?
Parspec is an AI-powered platform that assists mechanical, electrical, and plumbing product experts with product selection, quoting, and submittals. The platform aims to enhance productivity, increase bid success rates, and improve profitability for its users.
Operating within the AI-powered software solutions industry, Parspec offers three main tools: Product Finder, Quoting, and Submittals + O&Ms. These tools are designed to streamline processes, reduce errors, and provide a competitive edge by offering a complete and accurate understanding of product alternatives, pricing, and customer preferences.
Parspec is trusted by leading sales agents and distributors, as evidenced by multiple customer testimonials and case studies. The platform's innovative approach helps users break through productivity barriers, enabling them to bid more jobs and grow their revenue.
How Much Funding Has Parspec Raised?
- Seed Round
- Amount Raised: USD 11,500,000
- Date: February 2024
- Lead Investors: Innovation Endeavors
- Seed Round
- Date: January 2022
- Series A
- Amount Raised: USD 20,000,000
- Date: July 2025
- Lead Investors: Threshold
Parspec has raised a total of USD 31,500,000 across all funding rounds.
Key Investors
- Threshold
- Details: Threshold is a venture capital firm known for investing in early-stage technology companies. They have a strong track record of supporting startups through their growth phases.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Notion, Front, Handshake
- Innovation Endeavors
- Details: Innovation Endeavors is a venture capital firm that partners with startups leveraging emerging technologies to create new markets. They are known for their hands-on approach and deep industry expertise.
- Investment Focus Areas: Artificial intelligence, robotics, digital health
- Notable Investments: Uber, SoFi, Plenty
Use Clay to Get Funding Data
Sales professionals, take your business intelligence to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Parspec and gather other critical business insights.
Sign up for free to start making data-driven decisions and stay ahead of the competition.
