Adaptive's Financial Management Tools Transform Construction Industry Payments

The construction industry faces a significant challenge: slow payments. On average, it takes two to three months for construction companies to receive payments, resulting in a staggering $273 billion in delayed payments in 2023.

Matthew Calvano, Henry Bradlow, and Francisco Enriquez identified back-office inefficiencies as the root cause and founded Adaptive in 2021. Adaptive provides a platform that streamlines payments and accounting for general construction contractors.

Adaptive's automation tools cover budgeting, expense tracking, accounts payable, and electronic payments. Customers can upload documents and leverage automations to take action, like approving requests and budgets. Adaptive's AI algorithms automate financial management and bookkeeping workflows, making it a leader in the industry.

Adaptive has secured over 280 construction companies as customers and plans to expand its services to subcontractors. With a healthy business and a recent $19 million Series A funding, Adaptive is poised for growth.