PermitFlow, a rapidly growing construction technology company, has raised $54 million in Series B funding to accelerate its AI platform designed to solve some of the industry’s most persistent bottlenecks. Accel led the round with participation from Kleiner Perkins, Felicis, Initialized Capital, Altos Ventures, Y Combinator, and several existing investors. The funding marks a significant milestone for the New York-based company as it scales its suite of AI agents that streamline pre-construction and compliance workflows for builders nationwide.
Founded in 2021 by Francis Thumpasery and Samuel Lam, PermitFlow aims to provide a faster and more predictable path from planning to project delivery. Its AI-driven platform has already automated a wide range of complex pre-construction tasks, supporting more than $20 billion in construction value across the United States. The system is used by major organizations, including Lennar, Amazon, and Dick’s Sporting Goods, and orchestrates phases ranging from early design and planning to final approvals.
Construction teams using PermitFlow have reported shortened timelines of up to 60 percent, reduced administrative burdens by 90 percent, and a fivefold return on investment. These efficiencies are powered by the company’s proprietary dataset, which contains more than 12 million municipal data points and continuously enhances the accuracy and capabilities of PermitFlow’s AI agents.
The company plans to deploy its new capital to accelerate product development, expand its suite of AI modules for permitting, inspections, and license management, and continue scaling its engineering and product teams. PermitFlow has already attracted talent from top technology companies, including Meta, Google, Uber, Lyft, Stripe, and Canva, and intends to continue hiring as demand from builders grows both in residential and commercial sectors.
The funding comes as infrastructure and housing projects accelerate across the country and globally, further increasing regulatory complexity for construction teams. PermitFlow says its AI-driven approach can help builders avoid costly permitting delays, reduce risk, and expedite groundbreaking timelines as communities seek more efficient paths to development.
KEY QUOTES
“Builders are the backbone of America. They put families in homes, build critical infrastructure, and shape our communities. Yet the systems behind that progress are decades old. We’re changing that by bringing AI to construction and empowering builders to build without barriers.”
Francis Thumpasery, Co-Founder & CEO of PermitFlow
“As infrastructure and housing projects accelerate globally, there’s so much compliance, regulatory and legal overhead to manage. PermitFlow entirely redefines that complex, time consuming work with AI. We’ve been impressed by the team’s clarity of vision and are glad to be part of their journey.”
Vas Natarajan, Partner at Accel
