PermitFlow, a Y Combinator alumnus, has successfully raised $31 million in a Series A funding round, led by Kleiner Perkins, according to sources. The California-based startup, founded in the fall of 2021, specializes in end-to-end workflow and automation software designed to simplify the often cumbersome process of obtaining construction permits.
The company’s co-founder and CEO, Francis Thumpasery, describes PermitFlow as a comprehensive solution, likening it to a “TurboTax for construction permitting.” It manages every aspect of the permitting process, from initial research and application to permit preparation, submission, monitoring, comment response, coordination, and issuance.
Notably, PermitFlow, operating primarily in California, Florida, and Texas, collaborates with general contractors to enhance the permitting experience. The company has achieved substantial growth, with an Annual Recurring Revenue (ARR) increase of “over 20x” in 2023 compared to the previous year, though specific valuation figures remain undisclosed.
The startup’s mission extends beyond commercial clients to address affordability in housing development. By expediting and stabilizing the permitting process, PermitFlow aims to contribute to the reduction of construction project costs and, ultimately, the affordability of housing.
PermitFlow’s impact is reflected in its successful permit issuance for over 5,000 housing units. Recognized as a 2023 Ivory Prize co-winner in Public Policy and Regulatory Reform, the company remains committed to its goal of making housing development more accessible.
In response to the evolving digital landscape, PermitFlow collaborates with software vendors serving municipalities. The company aims to transform an industry predominantly reliant on manual, error-prone, and nontransparent processes. Embedding Language Learning Models (LLMs) into its product, PermitFlow seeks to decipher complex municipal requirements and streamline the overall permitting experience.
Kleiner Perkins Partner Josh Coyne emphasizes the platform’s significance, stating, “PermitFlow shoulders all of this complexity in a single, centralized platform,” highlighting its potential to revolutionize the construction industry.
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By Proptechbuzz
By Ravi Kumar
