SAN JOSE, Calif.--(BUSINESS WIRE)--PermitFlow, a construction permit application and management software for builders and owners, announced today it has raised a $5.5 million seed round led by Initialized Capital, with participation from founders and executives from other top PropTech and ConTech companies including PlanGrid, Procore, Bluebeam, Thumbtack, Opendoor, Zillow, and Mighty Buildings. The leading provider of permitting software, PermitFlow will use this funding to simplify the permitting process further and enable faster and more reliable construction.
PermitFlow’s software simplifies and reduces time to permit, which expedites one of the biggest pain points in the construction process. Currently, permitting is complicated, slow, opaque, and unreliable; affordable housing projects can take years to get permitting approved. Its software gives contractors and developers the power of a scalable in-house permit research and operations team, taking that complexity off the hands of PermitFlow’s customers. Founded by a team with workflow software and construction experience, PermitFlow combines permitting intelligence with software automation to help customers save preparation time, reduce errors, and increase transparency.
“Permitting is one of the biggest pain points in the construction process, delaying and disrupting projects. At a time when housing availability and infrastructure are critical issues in America, it is essential to reduce this barrier,” said Francis Thumpasery, co-founder and CEO of PermitFlow. “This seed round enables us to accelerate our work to change the status quo and offer a simpler path to permitting. We have already seen our software used for everything from multi-family development in Florida to housing density programs in California, and we are excited to expand our capabilities.”
"Francis, Sam and the PermitFlow team have demonstrated the relentlessness and focus necessary to break one of the construction industry's most painful bottlenecks," said Kim-Mai Cutler, Partner at Initialized. "We're excited to back them at a critical time, when so many of these processes weren't even digitized until the pandemic."
In the near-term, PermitFlow is focused on further streamlining its customers’ permitting experience via increased automation and additional integrations while building out add-on software and support to serve permitting-related needs.
For more information, please visit PermitFlow.com or contact info@permitflow.com.
About PermitFlow:
PermitFlow is the first construction permit application and management platform for builders and owners. Founded in 2021 by Samuel Lam and Francis Thumpasery, we are on a mission to streamline and simplify construction permitting in the United States, unlocking more value in the $1.6 trillion construction market. Our software reduces time to permit while standardizing municipalities’ building permit submittal process in a single platform. We support permitting end-to-end including permit research, application preparation, submission, and monitoring. With our nationwide coverage and deep, local municipal expertise, PermitFlow helps builders permit whether in a single municipality or across multiple states. Get started today at PermitFlow.com.
About Initialized Capital:
Initialized Capital is an early-stage venture firm that invests with conviction before it's obvious. We're a diverse group of founders, builders, and operators who understand how hard it is to build a company. We back visionaries using software to make civilization better and support them through product-market fit and beyond. We're early believers in companies like Coinbase, Instacart, Flexport, and Cruise. Initialized’s portfolio—which spans over six core funds —is worth close to $200 billion in market value with 25 companies valued at $1 billion or more and 5 valued over $10 billion.
