Company intelligence
As of September 17, 2026, Adaptive has raised at least $30M in equity across 1 sourced funding round.
Adaptive makes accounting software for construction companies that uses AI agents to handle project accounting work.[1] Its agents pull in schedules, daily logs and answers gathered from the field and use them for job costing, accounts payable, billing, work-in-progress reports, payments and compliance.[1] The agents do not post to the general ledger on their own; a person reviews and approves every action.[1] It launched in February 2023 at the International Builders' Show and was working with more than 300 construction firms by mid-2024.[2] Emergence Capital led that round.[2] It also works with more than 40 accounting firms.[1] The money will fund more agent development and hiring for its Boston and New York teams.[1] The agents work as named roles on a finance team, including a field coordinator, a cost coding agent and a compliance agent.[3]
By September 2026, more than 750 construction companies with annual revenue between $5 million and $1 billion used Adaptive, across more than 10 accounting systems including QuickBooks, Sage Intacct, Foundation and Acumatica.[1]
Adaptive sells AI accounting agents to construction firms; a $30 million Series B led by Tidemark in September 2026 lifted its total to $57 million.
Adaptive makes accounting software for construction companies. It calls itself the agentic accounting platform for construction: software agents that handle project accounting work such as job costing, accounts payable, billing, work-in-progress (WIP) reports, payments and compliance on behalf of finance teams.[1]
The pitch is that construction accounting depends on facts that never reach the ledger, such as how complete a job is, how a delayed material package affects the schedule, which cost code a charge belongs to and what is owed a subcontractor. Adaptive pulls schedules, daily logs and field documentation from the project management systems contractors already use, including Procore, and connects to the accounting system where the money is recorded. When the answer is not written down, the agents ask: a call to a foreman, a text to a project manager, an email chasing a vendor for a signature.[1],[2]
The agents code invoices to the right job, phase and cost code and match them against purchase orders, draft change orders and chase signatures, prepare billings, assemble the monthly WIP and keep lien waivers and vendor insurance current. Adaptive says they work as named roles on a finance team, including a field coordinator, a cost coding agent, a compliance agent, budget intelligence and WIP intelligence. One design rule is stated plainly: the agents never post to the general ledger on their own, and a person reviews every action before it touches the books.[1],[2]
Co-founder and CEO Matt Calvano wrote that he and his co-founders, Frank and Henry, started Adaptive in the summer of 2021 while working on a different idea in real estate. Working with construction companies, they kept hearing that builders spent too much time keeping financials current, so reports were never real time and often inaccurate. They concluded that bookkeeping was the core problem and that advances in AI could address it.[3]
Adaptive announced its seed round in July 2022 with a platform it described as using artificial intelligence to automate bills, invoicing and reporting. It launched its product in February 2023 at the International Builders' Show. By the Series A announcement in July 2024 it said it was working with over 300 construction firms, and it described plans to cover more of the back office, from project financials to accounting to payroll.[4],[3]
Adaptive's seed round, announced on July 6, 2022, was $6.5 million. The announcement post as extracted does not name the investors.[4]
On September 17, 2026 Adaptive announced a $30 million Series B led by Tidemark, with existing investors Emergence Capital, Andreessen Horowitz, Pathlight, Definition and 3KVC participating. The company says the round brings total capital raised to $57 million. The money is earmarked for continued development of its Project Accounting Agents and for growing its Boston- and New York-based teams. No valuation has been disclosed.[1]
Named references in Adaptive's own materials include Jared Westergard, founder of Blackline Financial, who says Adaptive's agents handle invoice coding and change order tracking for his team, and Sarah Evans of Arrowhead Construction, who built an expense agent with Adaptive's customer success team. These are company-published testimonials, not independent reviews.[1],[2]
Matt Calvano is co-founder and CEO. His co-founders are named as Frank and Henry in his Series A post; the Series B release quotes Tidemark's Dave Yuan referring to "Matt, Henry, and the team". Surnames and titles for the other founders are not given in the sources reviewed. Tidemark's Andrew Walsh is also quoted in that release.[1],[3]
Is something wrong on this page?
| Date | Round | Amount | Valuation | Lead investors | Source |
|---|---|---|---|---|---|
| Sep 17, 2026 | Series B | $30M | — | PR Newswire |
Equity only. “Equity raised” above sums the rounds with a dated, linked source; rumored rounds, tender offers and secondary sales are listed but not counted, and debt financing is listed separately.
Adaptive raised $6.5 million in July 2022 for a platform that automated bills, invoicing and reporting.[4] In July 2024 it raised a $19 million Series A, bringing total capital raised to $26 million.[2] In September 2026 Adaptive raised a $30 million Series B led by Tidemark, with Emergence Capital, Andreessen Horowitz, Pathlight, Definition and 3KVC participating.[1] The round brought total capital raised to $57 million.[1]
In September 2026 Adaptive raised a $30 million Series B led by Tidemark, with Emergence Capital, Andreessen Horowitz, Pathlight, Definition and 3KVC participating.[1]
By September 2026, more than 750 construction companies with annual revenue between $5 million and $1 billion used Adaptive, across more than 10 accounting systems including QuickBooks, Sage Intacct, Foundation and Acumatica.[1]
Matt Calvano is co-founder and CEO.[1]
Adaptive makes accounting software for construction companies that uses AI agents to handle project accounting work.[1]
Lead investors in Adaptive's sourced funding rounds include Tidemark. Per round: its September 2026 Series B was led by Tidemark.
Adaptive is headquartered in New York, New York, USA, according to PR Newswire (Adaptive).
Figures are labelled Reported (a source states it), Estimated, Derived (computed from other facts) or Rumored (in talks / unconfirmed). Rumors never replace a confirmed figure. Each figure keeps its own as-of date; history is preserved rather than overwritten.