Parspec
- Company typePrivate
- Founded2021
- HeadquartersSan Francisco, United States
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
Parspec firmographics
Firmographics- Name
- Parspec
- Legal name
- Parspec, Inc.
- Website
- https://parspec.io
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
Parspec industry classification
Industry- Product category
- Construction procurement software
- NAICS
- Software Publishers (513210), Software Publishers (5132)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- Catalog & eProcurement Enablement (Punchout, Item Master) (BPAAAJAI)
- akta.pro secondary industry
- iBPMS (Intelligent BPM Suites) & Process Automation Suites (HDAEAHAG)
Keywords
Where Parspec is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Parspec business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations
Revenue model
- SaaS Subscription (Usage-based): Usage-based SaaS model charging per document or workflow action rather than per seat, providing scalable pricing tied to customer usage
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Parspec product offering
Product offeringCore offering
Parspec provides an AI-native software platform that automates product discovery, quoting, submittal generation, and project management for Mechanical, Electrical, and Plumbing (MEP) distributors and rep agencies in the construction supply chain. The platform combines proprietary multimodal AI (computer vision and NLP) with a database of 6M+ MEP products to replace manual quote and submittal workflows. It integrates with major ERP systems (Eclipse, Prophet 21, SAP) and is sold on a usage-based SaaS model.
Product overview
Parspec is an AI-native platform for construction materials procurement, consisting of a unified platform with modular components. The core offering includes Quoting (for automated BOM extraction and pricing), Submittals & O&Ms (for professional documentation generation), and Project Management (for post-award order and fulfillment tracking). For rep agencies, Sales Management provides a full lifecycle solution from RFQ to closeout. The Product Finder feature powers intelligent product recommendations across all modules.
Differentiator
Problem solved
Functional benefit
Products and services
- Quoting AI-native quoting product for MEP distributors that automates bill of materials extraction from drawings and specifications, identifies spec-compliant products and alternatives, and enables faster, more accurate project bidding with competitive pricing.
- Submittals & O&Ms Automated submittal and Operations & Maintenance package creation tool that identifies the correct cut sheets, marks up order matrices, and generates professional documentation packages in minutes for MEP distributors and rep agents.
- Project Management Post-award execution product for distributors that unifies order management, fulfillment, change orders, billing, and customer visibility into a single connected workspace for MEP project execution.
Quantifiable outcome
- Bid 5-15% more jobs
- +4 more outcomes
Companies that use Parspec
Customer profileNamed customers10 records
Segments3 records
Ideal customer profiles2 records
Parspec technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability7 records
Feature5 records
Parspec partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core, flagship and minor.
- Eclipse (ERP)coreERP system integration partner enabling seamless data flow between Parspec's AI-powered quoting platform and Eclipse ERP systems used by MEP distributors.
- Prophet 21 (ERP)coreERP system integration partner providing connectivity between Parspec's product database and quoting workflows and Prophet 21 ERP platforms.
- SAP (ERP)coreEnterprise ERP integration partner enabling large distributors using SAP systems to access Parspec's AI-powered product discovery and quote automation.
- RexelflagshipOne of the largest U.S. electrical distributors serving as a flagship customer using Parspec's platform across their branch network for product discovery and quote generation.
- GraybarflagshipMajor U.S. electrical distributor leveraging Parspec's AI-powered quoting platform for improved quote accuracy and faster turnaround times.
- Border StatescoreTop 5 U.S. electrical distributor customer using Parspec's platform for product discovery and quote automation.
- U.S. Electrical Services Inc. (USESI)coreMajor electrical distributor leveraging Parspec's platform for improved quote workflows and product discovery.
- Crescent Electric Supply (CESCO)coreMajor electrical distributor customer using Parspec's platform for AI-powered product discovery and quote generation.
- ConnexioncoreElectrical distributor customer leveraging Parspec's platform for improved quote automation and product search.
- MonarchminorElectrical distributor customer using Parspec's quoting and product discovery platform.
- GexprominorElectrical distributor customer leveraging Parspec's platform for product search and quote automation.
- SESCOminorElectrical distributor and lighting specialist customer using Parspec's platform.
- Tank DepotminorIndustrial distributor customer for plumbing and HVAC products using Parspec's platform for product discovery.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Parspec competitors and assessment
Company assessmentEmerging players
- Kreo Software: AI-powered construction takeoff and estimation platform. Comparable as an emerging AI tool for pre-construction quantity and cost workflows that overlap with Parspec's quoting automation.
Broad incumbents
- ConstructConnect: Construction pre-construction services network (bidding, takeoff, estimating, including ProEst). Comparable as a broader incumbent in pre-construction procurement and bidding workflows serving similar trade contractors.
- Procore: Leading construction management SaaS platform serving general contractors and owners. Comparable as a horizontal incumbent moving into MEP-side procurement workflows that overlap with Parspec's quoting/submittal scope.
- Trimble Viewpoint: Construction ERP and management software serving specialty contractors including MEP firms. Comparable as an ERP incumbent whose customer base overlaps heavily with Parspec's MEP distributor and contractor audience.
- e-Builder (Trimble): Trimble-owned construction program management SaaS for owners and program managers. Comparable as a broader incumbent covering project lifecycle workflows that Parspec is extending into with its Project Management module.
- Autodesk Construction Cloud: Broad construction technology suite (BIM + project management + bid management via BuildingConnected). Comparable because it covers pre-construction and bidding workflows that intersect with Parspec's quoting and submittal products.
Direct peers
- PlanHub: Construction bid management platform connecting trades and suppliers. Comparable because it operates in the same pre-construction bidding network layer that Parspec's distributor and rep-agency users interact with.
- BuildingConnected: Construction bid management network (now owned by Autodesk) connecting GCs, subcontractors, and distributors. Comparable because it focuses on the bidding/quoting workflow that Parspec is automating with AI.
- Briq: AI-native platform for construction project financial forecasting and data automation. Comparable as a venture-stage construction AI company targeting similar workflow-automation pain points in the AEC supply chain.
Others
- Gordian (RSMeans): Provider of construction cost data (RSMeans) and procurement services. Comparable as an established data and services vendor in construction cost/specification intelligence adjacent to Parspec's product data layer.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Parspec social profiles
Digital presenceParspec compliance and trust
Trust signalCompliance2 records
Parspec financial estimates
Financial estimateRevenue estimate
Valuation estimate
Parspec leadership team
Management profileNumber of profiles
Profiles12 records
Parspec funding detail
Funding detailFunding overview
Funding rounds3 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Parspec M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Parspec
What does Parspec do?
Parspec provides an AI-native software platform that automates product discovery, quoting, submittal generation, and project management for Mechanical, Electrical, and Plumbing (MEP) distributors and rep agencies in the construction supply chain. The platform combines proprietary multimodal AI (computer vision and NLP) with a database of 6M+ MEP products to replace manual quote and submittal workflows. It integrates with major ERP systems (Eclipse, Prophet 21, SAP) and is sold on a usage-based SaaS model.
Is Parspec a public or private company?
Parspec is a private company. It is classified as venture growth investor backed and is currently operating.
When was Parspec founded?
Parspec was founded in 2021. It employs 51 to 100 people.
Where is Parspec based?
Parspec is headquartered in San Francisco, United States, in the North America region.
How does Parspec make money?
One revenue line is on record: saaS Subscription (Usage-based).
Who are Parspec's main competitors?
Kreo Software is listed as an emerging player. Broad incumbents are ConstructConnect, Procore, Trimble Viewpoint, e-Builder (Trimble) and Autodesk Construction Cloud. Direct peers are PlanHub, BuildingConnected and Briq. Gordian (RSMeans) is listed as an others.
Does Parspec have an API?
No public API is recorded for Parspec.
What industry is Parspec in?
Parspec's product category is Construction procurement software. Its primary akta.pro industry code is BPAAAJAI, Catalog & eProcurement Enablement (Punchout, Item Master), with a secondary code of HDAEAHAG, iBPMS (Intelligent BPM Suites) & Process Automation Suites. Its NAICS code is 513210 and its SIC code is 7372.