PermitFlow, a YC alum, secures $31M to transform construction permitting process

PermitFlow, a Y Combinator graduate, is turning heads with its comprehensive software designed to manage the entire permitting process, end-to-end. They cover upfront research, application, monitoring, and everything in between.

• Funding Triumphs: PermitFlow announced a substantial $31M Series A funding round, led by Kleiner Perkins and joined by other investors like Initialized Capital, Y Combinator, Felicis Ventures, Altos Ventures and a number of angel investors.

• Growth and Impact: Since its inception in late 2021 by founders Samuel Lam and Francis Thumpasery, PermitFlow's growth has been impressive, with a 20x increase in annual recurring revenue (ARR) in 2023. Its most profound effect lies in its potential to make housing more affordable by streamlining the permitting timeline, thus reducing associated costs.

• Geographic Expansion: With a strong user base in states like California, Florida, and Texas, PermitFlow isn't resting on its laurels. They're systematically broadening their reach with the objective of easing the national permitting burden.

• Tech Advancements Post-COVID: The pandemic prompted a digitization wave in municipal permitting processes, a change PermitFlow is strategically leveraging to interface with vendors providing municipality software, rather than dealing directly with the government entities.

Their dedication hasn't gone unnoticed, with PermitFlow being named a 2023 Ivory Prize co-winner in Public Policy and Regulatory Reform, focusing on their contribution to affordable housing development remains their North Star.