Cascade raises $3.5M to find construction projects before RFPs

Cascade has raised $3.5 million in seed funding led by Andreessen Horowitz Speedrun to help architecture, engineering and construction firms identify projects before formal requests for proposals are issued. The New York-based startup is selling into a sector where deal flow still depends heavily on relationships, spreadsheets and public bid databases, which can leave firms late to opportunities.

The company did not disclose its valuation, revenue or headcount. Other investors in the round include Ada Ventures, Blitzscaling Ventures, Indico Capital, shuckerVC, G2C Ventures and Snowball VC. Cascade said the money will go toward expanding its AI-powered Pursuit Hub, a product built to find, assess and pursue projects months before they appear in standard procurement channels.

Cascade was founded by Hannia Zia, its chief executive, and Joana Ferreira, its chief technology officer. The two previously worked together at UnlikelyAI, the startup founded by William Tunstall-Pedoe, who was involved in the development of Amazon Alexa. Zia previously led product teams at Google and later became vice president of product at UnlikelyAI. Ferreira worked on AI infrastructure after engineering roles at Google and at one of the world’s largest trading platforms.

The founders also have family connections to construction. Ferreira grew up in a Portuguese town tied to construction and carpentry, while Zia saw her father’s construction business struggle with procurement. Cascade says that experience shaped its view that many firms miss work because they do not see projects early enough, rather than because they cannot compete for them.

How Cascade is pitching the product

Cascade says its platform scans early indicators including bond filings, property transactions, permits, capital improvement plans, earnings calls, budget announcements and local government meeting minutes. It then ranks potential projects against a firm’s prior work, capabilities and historical performance, with the aim of helping teams decide which opportunities deserve pursuit.

The company said its system has already identified more than $10 billion in potential projects for customers connected to sites including JFK Airport, LaGuardia Airport, luxury hotels, nuclear facilities and data centers. That figure is a company claim and does not indicate revenue booked by Cascade or contracts won by customers.

One customer example came from Tim Johannesson, principal at Smallwood, an architecture firm whose work includes projects for Four Seasons, Ritz and Hyatt. Johannesson said Cascade helped his firm find and win more work, including a recent $6 million project he said he located through the platform.

AI moves earlier in the construction funnel

Most construction software companies have focused on permitting, field operations, project management or contractor workflows. Cascade is targeting the pre-RFP stage, where incumbents with relationship advantages often have more context before a bid becomes public.

The funding lands as AI startups continue to raise capital across construction workflows. BuildOps recently raised $127 million in a Series C round at a valuation above $1 billion for software used by commercial contractors. Trunk Tools raised $40 million in Series B funding for AI assistants that retrieve drawings, specifications and other project information on job sites. PermitFlow has also expanded its AI-powered permitting software after raising new funding.

Grand View Research projects continued growth in the global construction management software market as contractors adopt more AI, automation and cloud tools. Cascade’s bet is that the same shift will reach business development teams, not just project delivery and back-office processes.

The company also says broader usage could improve its predictions, suggest potential partners and identify relationship paths that help firms compete for large contracts. Syed Irfan Raza, chief financial officer at Munoz Engineering, said Cascade helps the firm plan ahead in New York City’s competitive AEC market. Munoz Engineering has worked on LaGuardia Airport, Moynihan Train Hall and the Cuomo Bridge.

This story draws on original reporting from TechFundingNews.