Shackleton AI Raises $5M in Seed Funding Led by Battery Ventures

Shackleton AI, a NYC-based provider of agentic technology for the construction industry, has raised $5 million in a seed funding round led by Battery Ventures.

The round also saw participation from Brick & Mortar Ventures, Trust Ventures, Correlation Ventures, Motivate Partners, Thayer Investment Partners, Act One Ventures, Brainstorm Ventures, Silence VC, and others.

The company will use the funding to expand the tasks its AI agents can handle and accelerate its go-to-market efforts.

What is Shackleton AI?

Shackleton AI provides an AI-powered platform that brings development and construction management workflows into one system.

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The platform supports projects from site selection and bidding through construction and final handover. Its AI agents automate administrative tasks that often take up project managers' time.

These tasks include drafting requests for information (RFIs), following up on overdue submittals, identifying budget differences before payment requests are approved, and turning field notes into daily reports.

Unlike tools that automate work within a single application, Shackletons AI agents operate across the platform. This helps construction teams coordinate activities across multiple projects while keeping people involved through review and approval processes.

How Much Funding Has Shackleton AI Raised?

Shackleton AI has raised $5 million in its seed funding round. The company has not disclosed its total funding raised to date or details of previous funding rounds.

Who Invested in Shackleton AIs Seed Round?

The $5 million seed round was led by Battery Ventures.

Other participating investors include:

• Brick & Mortar Ventures
• Trust Ventures
• Correlation Ventures
• Motivate Partners
• Thayer Investment Partners
• Act One Ventures
• Brainstorm Ventures
• Silence VC
• Other investors

Why the Funding Matters

Shackleton AI will use the funding to expand the number of workflows its AI agents can manage and strengthen its go-to-market activities.

The investment will support the company's efforts to automate more administrative work across construction projects. Its platform aims to help teams manage project activities, coordinate tasks and identify potential risks while maintaining human oversight.

Who founded Shackleton AI?

Shackleton AI was founded in 2026 by Olex Kal'tsev and Michael Ragheb, along with Hassan Yasin.

The company is headquartered in New York, United States.

"Construction is one of the largest and least digitized sectors in the economy, and the teams running these projects are buried in manual work that software should have automated a decade ago," said Michael Brown, general partner at Battery Ventures. "The Shackleton team built this platform to run their own business before bringing it to market.

"I was spending more time moving data between systems than running my jobs at Ernest," said Michael Ragheb, co-founder and CEO of Shackleton AI. "Once we saw how much this was costing us, and how many other builders were dealing with the same problem, we knew we had to start from scratch and bring everything into one place.

Market and Business Growth

Shackleton AI launched its platform in June 2026 and currently manages more than $1 billion in project value across over 15 US states.

Its customers include midsize general contractors working in multifamily, industrial and commercial construction, as well as multi-location brands such as Red Lobster, Dog Haus and Pepper Lunch.

The platform brings development, preconstruction, project management, field operations, finance and communications into one system.

What Happens Next?

Shackleton AI plans to expand the capabilities of its AI agents and accelerate its market expansion efforts.

The company will continue developing its platform to automate more administrative tasks and coordinate activities across construction projects, from initial site selection to project handover.

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