YC alumnus secures $31M to develop the ‘TurboTax for construction permitting’
PermitFlow, a startup focused on streamlining the construction permitting process, has secured $31 million in Series A funding led by Kleiner Perkins. The company, founded in the fall of 2021 and a Y Combinator alum, has developed end-to-end workflow and automation software to simplify the permitting process.
Described as a “TurboTax for construction permitting,” PermitFlow’s software handles everything from upfront research and application to permit preparation, submission, monitoring, comment response, coordination, and issuance. The funding round comes just over a year after PermitFlow raised $5.5 million in seed funding led by Initialized Capital.
The startup experienced significant growth in 2023, with its annual recurring revenue (ARR) increasing by “over 20x” compared to the previous year. While the company’s valuation was not disclosed, the funding round was described as an “up” round, indicating positive momentum and investor confidence in PermitFlow’s business model and technology.
More affordable housing
PermitFlow primarily serves general contractors, offering them subscription-based access to its software to streamline the permitting process. Some of its clients include Red Tail, Urban Moment, and Wright Construction. While its main presence is in California, Florida, and Texas, PermitFlow operates in municipalities nationwide and aims to expand nationally.
The software aims to provide contractors with faster turnaround times and more predictability in the permitting process, ultimately offering customers greater accuracy in project timelines. PermitFlow’s focus extends beyond residential real estate to include commercial clients, but one of its key objectives is to contribute to making housing more affordable by reducing permit processing times.
