Agave announced that it has raised $15 million in Series A funding. The round was led by Accel, which also led Agave’s seed round, with continued participation from Y Combinator.
The funding brings Agave’s total funding to more than $20 million since the company was founded in late 2021. Agave was founded by Tom Reno, John Zucchi, and Pooria Azimi.
Agave is an AI platform for construction financials. The company helps contractors automate accounting and back-office workflows while working with the systems they already use.
The new funding will be used to expand Agave’s team and scale its product suite. The company already supports hundreds of contractors by automating work across accounting, financial reporting, invoice processing, cost reconciliation, expenses, vendor compliance, analytics, and AI agent building.
Agave has been profitable for more than two years and tripled revenue year-over-year. The company works with more than 500 general and specialty contractors ranging from $5 million to more than $5 billion in annual revenue.
Its customers span commercial, civil, and residential construction, along with trades such as electrical, roofing, and concrete. Customers include Evans General Contractors, Stacy Witbeck, Brinkman Construction, Satterfield & Pontikes, and RW Dake.
Agave is used across more than 80,000 construction projects in the U.S. and Canada, representing more than $100 billion in project volume. Customers report saving more than 60 hours per month on tasks such as data entry, financial reporting, and cost reconciliation across systems.
Construction financials are difficult to manage because projects often span years, involve frequent changes, and require coordination among many companies. Each project operates as its own profit center, with costs tracked by job, phase, and cost code, while scope changes are managed through change orders.
Agave has spent four years building partnerships with major construction platforms and proprietary two-way connections with more than 14 ERP and project management systems. These integrations allow Agave to access data and automate workflows end to end, rather than handling isolated tasks.
The company’s products deliver real-time ERP financial data into project management systems, automatically code and reconcile invoices and credit card transactions, and help onboard vendors by checking insurance documents against predefined requirements. Users can also build custom AI agents for business-specific workflows that pre-built tools cannot support.
Agave said its platform also helps address a workforce challenge in construction. With a large portion of experienced workers expected to retire over the next several years, the company is helping contractors codify institutional knowledge, automate manual work, and increase team productivity.
KEY QUOTES:
“AI adoption in construction won’t come from replacing existing systems, but from enabling AI to work seamlessly with them. Agave helps contractors unlock the value of AI on top of the tools that already run their business, turning siloed data and manual processes into streamlined workflows that allow contractors to take on more jobs at higher margins, without painful system migrations or training an army of new employees.”
Tom Reno, Co-Founder and CEO of Agave
“Most energy in AI goes into building new software. The bigger opportunity is deploying AI to operate on systems companies already depend on, helping enterprises get more out of what they have today. Agave does this for construction, going straight at the messy, domain-specific problems most teams avoid. It’s a rare combination of experienced team and market need, and they’re the ones to capitalize on the opportunity.”
Vas Natarajan, Partner at Accel
“We’ve more than doubled in size over the past few years, and Agave’s been a big reason my team can keep up without adding headcount. Agave keeps our Project Management and ERP data in sync automatically, so the numbers from the field, like change orders, show up in our accounting system without anyone rekeying them. And the AI does in minutes what would otherwise take us days. I’ve had it turn a master job report into tailored financials for each of our 47 PMs, and with a few more prompts, scan months of activity across hundreds of credit cards to catch expenses coded incorrectly that we should’ve billed to clients. That kind of analysis used to take days of manual work to pull together, so it often never got done. I don’t know how we’d keep up without Agave now.”
Ken Pattridge, CFO of RW Dake Construction
