Parspec

Parspec is an AI-powered construction procurement platform that streamlines the entire workflow from product selection to quoting for sales agents and wholesale distributors. The platform leverages machine learning and large language models (LLMs) to extract products from unstructured documents like drawings and specifications, automatically matching complex specifications to available products from over 4,000 manufacturer websites. The system identifies technical requirements from natural language specifications and generates instant quotes, submittals, and operation/maintenance packages. With a usage-based subscription model, Parspec has achieved 4x revenue growth and serves 288 customers, including four of the five largest electrical distributors in the U.S.