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This YC alum just raised $31M to build the ‘TurboTax for construction permitting’

Feb 21, 2024•over 1 year ago

Amount Raised

$31 Million

Round Type

series a

MilpitasSoftware

Investors

Altos VenturesFelicis VenturesY CombinatorInitialized CapitalKleiner Perkins

Description

PermitFlow has raised $31 million in Series A funding led by Kleiner Perkins. The financing comes just over a year after it raised $5.5 million in seed funding led by Initialized Capital and also participated in by Y Combinator, Felicis Ventures, Altos Ventures, and a number of angel investors.

Company Information

Company

PermitFlow

Location

Milpitas, California, United States

About

PermitFlow is a Y Combinator alum that has developed 'end-to-end' workflow and automation software that aims to 'take care of permitting from soup to nuts.' It primarily works with general contractors to help make the permitting process less painful and also works with commercial clients. The company's largest footprints are in California, Florida, and Texas, but it operates in municipalities across the country with the plan of expanding nationally.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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