Agave, a San Francisco company that applies AI to the financial systems of construction contractors, raised a $15m Series A announced on 7 July 2026. Accel, which also led the seed round, led again. Y Combinator took part once more. Total funding now exceeds $20m. No valuation was disclosed.
Agave said it will use the money to expand its team and scale its product suite.
Agave is based in San Francisco, and the announcement was issued through Business Wire.
“AI adoption in construction won't come from replacing existing systems, but from enabling AI to work seamlessly with them.”Tom Reno, Cofounder and CEO, Agave
What Agave does
Agave provides AI tools that automate accounting and back-office work for construction contractors, working alongside their existing systems rather than replacing them. It connects to more than 14 enterprise resource planning and project management systems, including Procore and Autodesk Forma Build.
Its products cover accounts payable invoice automation, expense management, vendor compliance, analytics and a tool for building custom AI agents. The company was founded in late 2021 by Tom Reno, John Zucchi and Pooria Azimi. Reno is co-founder and chief executive.
Reno said in the release: "AI adoption in construction won't come from replacing existing systems, but from enabling AI to work seamlessly with them."
Traction
Agave says it has more than 500 general and specialty contractors as customers, with annual revenues from $5m to over $5bn, in the United States and Canada. Named customers are Evans General Contractors, Stacy Witbeck, Brinkman Construction, Satterfield & Pontikes and RW Dake. The platform is used on more than 80,000 projects representing over $100bn in project volume.
The company says it has been profitable for more than two years, that revenue tripled year over year, and that customers report saving more than 60 hours a month. All of these figures come from the company's release. Pulse 2.0 repeated the same figures. The company did not state its headcount.
Who invested
Vas Natarajan, a partner at Accel, said: "Most energy in AI goes into building new software." The release uses the remark to make the point that Agave puts AI on top of systems that companies already depend on.
Accel led both the seed and the Series A, so the new round is a follow-on by the same lead. The amount of the seed was not given in either source.
The industry backdrop
The release says that 41% of the construction workforce will retire within five years and that only 10% is under 25. Agave positions its tools as a way for finance teams to keep up without hiring more people. Ken Pattridge, chief financial officer of RW Dake Construction, is quoted in the release saying Agave has been a big reason his team can keep up without adding headcount.
The pitch is an application of AI to routine finance work in a sector with a shrinking workforce, rather than a replacement of the core software contractors rely on.
Company website: useagave.com