The AI data centre buildout has an unexpected beneficiary: software for firms that pour concrete and service air conditioning.
Coast raised $35M in growth equity led by Thomvest Ventures, with Intuit Ventures, Small World Capital and Alpha Square Group joining as new investors. ICONIQ Growth, Accel, Insight Partners, Synchrony and others from earlier rounds also participated.
Cards built for a job site
The New York company started with a fuel card and expanded into corporate cards, expense management and bill pay, all aimed at trades rather than desk work. Customers get vehicle and driver level visibility, telematics-based controls, fuel grade and gallon detail, job costing and accounting integrations that code transactions automatically.
Demand is tied to the construction boom around data centres: job postings for HVAC engineers are up nearly 78% since 2022, with electrician, welder and construction specialist roles up 30%, per the company. Most of those businesses still stitch together generic cards and fleet tools.
The proceeds fund AI expense automation, new bill pay and accounts payable products, and embedded partnerships with fleet and field service platforms. Intuit Ventures’ participation hints at deeper accounting integrations, a channel that matters when customers already run their books on QuickBooks.
