NYC-based Trunk Tools, provider of an AI Platform for the construction industry, raised $20 million in Series A funding round led by Redpoint Ventures with participation from Innovation Endeavors, who led the Seed round, bringing the total capital raised to-date to $30M.
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Trunk Tools leverages the latest in AI technology to build the “brain” behind construction. By structuring millions of pieces of unstructured project data and deploying AI agents that augment construction professionals in their administrative workflows, Trunk Tools ensures critical information is available to the right people at the right time, automating the tedious and repetitive tasks that have historically weighed on industry productivity and profitability. With Trunk Tools, construction professionals not only save time but avoid construction delays and rework that can cost tens of millions – or more – per project.
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“We are thrilled to have the support of Redpoint Ventures and our other valued investment partners, as we push the boundaries of innovation in the construction industry,” said Dr. Sarah Buchner, Founder and CEO of Trunk Tools. “Redpoint’s expertise in investing and scaling AI companies is a perfect match and this funding will enable us to accelerate our growth, develop new products, and cement our place as industry leaders in generative AI for construction. What is another vote of confidence is how many of our current and prospective customers have invested: WND Ventures (DPR’s CVC), Suffolk Technology, AEC Angels, STO Building Group, Liberty Mutual Strategic Ventures, Thornton Tomasetti/ TTWiiN, Charps, and many more.”
Redpoint’s Erica Brescia, also the newest member of Trunk Tools board, added, “Growing up in the construction industry, I have a deep appreciation for the complexities of commercial projects. We have zero doubt of AI’s potential to revolutionize construction management. This is a truly massive market opportunity, and we’ve been searching for a team that combines the empathy that only comes with deep industry experience with the AI expertise to execute this audacious vision. We’re thrilled to partner with Sarah and the team at Trunk Tools, who possess the ideal mix of passion, experience, and AI expertise to bring the power of AI to construction.”
With today’s announcement, Trunk Tools is also introducing the first fully autonomous AI-powered agent tailored to the construction industry: the Trunk Tools Schedule Agent. Harnessing Trunk Tools’ underlying data infrastructure, the Schedule Agent offers an unprecedented solution in the construction industry: a dynamic link between scheduled activities and all essential supporting documentation to build on time, on budget and according to plan. This advanced agent builds upon Trunk Tools’ existing proprietary AI platform, which is already used by many of the largest general contractors and several Fortune 500 companies, to help construction teams stay on schedule by becoming more proactive on the jobsite without any additional effort by sensing project issues, surfacing insights and taking action.
“We like to say we are not in AI but in IA – intelligence augmentation: augmenting the tedious, manual, painful parts of worker’s jobs, so builders can focus on building,” continued Dr. Buchner. “This is just the beginning of what our AI platform and its army of AI agents can achieve. This industry has long been ripe for disruption, but the market has needed the underlying technology to actually get to a point where it can leverage unstructured data effectively. Generative AI is the answer to construction’s long standing incapability to adopt and leverage technology and we are proud to be the leading provider in our industry.”
About Trunk Tools
Trunk Tools founded by Dr. Sarah Buchner in 2021 and is headquartered in New York, NY, built the brain behind construction. Now we are automating this $13 trillion construction industry. We’re an exceptional team of serial entrepreneurs, brought together by our shared mission: automating construction. Our founding team (SpaceX, Stanford, MIT, Carta, etc.) has successfully built and deployed software in construction for 140k+ users, millions of users beyond the construction space, and worked on +$2 billion of built-environment projects.
