Adaptive provides an AI-native platform for construction finance management, unifying operations between the field and accounting departments. The software automates accounts payable, receipt reconciliation, and lien waiver compliance to streamline job costing and billing processes. This solution delivers continuous financial control over WIP, billings, and cash flow for builders, remodelers, and developers.
Funding
$26.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Construction companies face challenges in managing project finances due to the complexity of bills, receipts, and invoices, leading to time-consuming manual processes and potential budget inaccuracies. Traditional methods often require extensive manual sorting, approval workflows, and reconciliation, making it difficult to maintain real-time visibility into project costs and profitability.
Solution
Adaptive provides an AI-powered financial management platform tailored for builders and remodelers, automating construction bookkeeping and accounting tasks. The platform analyzes financial documents, automatically sorting them by project, line item, and cost code, ensuring accurate budget tracking. Adaptive streamlines accounts payable, receipt management, and draw package creation, while providing real-time project reporting and budget visibility. It integrates with QuickBooks, enabling a two-way sync of expenses, bills, vendors, cost codes, accounts, and data.
Target Audience
The primary customers are builders, remodelers, and specialty contractors seeking to automate financial management, improve budget accuracy, and streamline construction accounting processes.
Features
- AI-powered processing of bills, receipts, and invoices with optical character recognition
- Automatic matching of financial documents to specific jobs, line items, and cost codes
- Automated receipt reconciliation with job cost and code matching
- One-click draw package generation for cost-plus, fixed price, or fixed fee projects
- Customizable approval workflows for AI-augmented bookkeeping
- Real-time budget tracking and WIP (Work in Progress) reports
- Vendor compliance management with automated notifications for expiring documents
- ACH payment processing for subcontractors
- Mobile app for iOS and Android