Adaptive’s agents get the facts the ledger doesn’t have, from the schedule, the daily logs, and the field, then do the accounting work that was waiting on them
NEW YORK, Sept. 17, 2026 — Adaptive, the agentic accounting platform for construction, today announced it has raised $30 million in Series B funding led by Tidemark, with participation from existing investors Emergence Capital, Andreessen Horowitz, Pathlight, Definition, and 3KVC. The round brings Adaptive’s total capital raised to $57 million and will accelerate the company’s expansion of Project Accounting Agents across job costing, AP, billing, WIP, payments, and compliance.
Construction accounting runs on facts that don’t make it into the accounting system: whether a job is 40 or 60 percent complete right now, how a delayed material package will impact the schedule, and therefore the cost to complete, which cost code a charge belongs to, and what’s actually owed a subcontractor this month. That information sits in the schedule, the daily logs, an email approving extra work, and the head of the superintendent running the job, not in the ledger. Closing that gap has always meant someone in the office calling, texting, and emailing to pull the facts across, then typing them in by hand.
“The hardest part of construction accounting isn’t the accounting. It’s finding out what’s actually happening on the job, and what that means for the numbers,” said Matt Calvano, co-founder and CEO of Adaptive. “What’s the true cost to complete? Which cost code does this belong to? What do we actually owe this subcontractor? Finance teams are blocked on all of it, and the only way they get answers today is calling, texting, and emailing people who are busy building. Our agents go get those answers, and then they do the accounting that was waiting on it.”
Adaptive is the first accounting system built to understand what’s actually happening on a job, pulling data directly from schedules, daily logs, and the field itself. That project data then feeds agents that handle the full project accounting workflow. They 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 monthly WIP, and keep lien waivers and vendor insurance current. The agents handle the coordination and information gathering, but they never post to the general ledger on their own: a person reviews every action and provides the judgment and approval before it touches the books.
“Every contractor we work with wants the same thing: a close they can trust, delivered on time,” said Jared Westergard, Founder, Blackline Financial. “Adaptive’s Project Accounting Agents handle the invoice coding and change order tracking, so our team can focus on the question clients are actually asking: ‘What does this number mean for my business?'”
More than 750 construction companies now run on Adaptive, ranging from $5 million to $1 billion in annual revenue, including general contractors, specialty trades, and real estate developers working across more than 10 accounting systems, from QuickBooks to Sage Intacct, Foundation, and Acumatica. Adaptive also partners with over 40 accounting firms.
“Adaptive is one of the clearest examples we’ve found of a System of Action: it doesn’t just help construction finance teams do the work, it increasingly does the work itself,” said Dave Yuan, Founder & Managing Partner at Tidemark. “By bridging the back office and the field, Adaptive eliminates much of the manual coordination required to understand job-level costs. Customers already see it as one of the most important tools in their stack, and we’re excited to partner with Matt, Henry, and the team on their journey to build the defining application layer for construction finance.”
“What stood out to us was how customers talked about Adaptive, consistently describing it as one of the most important systems in their business,” said Andrew Walsh, Partner at Tidemark. “That kind of enthusiasm is rare in construction software. We believe Adaptive will become synonymous with construction accounting, and Matt, Henry, and the team are the ones to get it there.”
The Series B will fund continued development of Adaptive’s Project Accounting Agents and the expansion of the company’s Boston- and New York-based teams.
To learn more, request a demo, or visit www.adaptive.build.
About Adaptive
Adaptive is the agentic accounting platform for construction. Its agents pull in the project context, including schedules, daily logs, and answers gathered straight from the field, and use it to do job costing, AP, billing, WIP, payments, and compliance work on behalf of finance teams, allowing them to shift from catching up to getting ahead. The company has raised $57m of venture capital and 750+ construction companies run on Adaptive across 10+ ERP systems. For more information, visit www.adaptive.build.
About Tidemark
Tidemark is a growth equity firm purpose-built to help companies win and scale. Tidemark is powered by a community of investors, entrepreneurs, and operators who are energized by ideas, a love of competition, and the drive to give back. The firm gives 10% of its profits to its foundation, Tidemark10, to support the communities it serves. For more information, visit www.tidemarkcap.com.
SOURCE Adaptive
