Trunk Tools, an AI-based construction project management company, announced it raised $20 million in Series A funding. This new funding round was led by Redpoint Ventures and participated in by Innovation Endeavors, which led the seed round. This brings the total capital raised to date to $30 million.
Trunk Tools utilizes the latest 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’ 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.
Through Trunk Tools, construction professionals not only save time but avoid construction delays and rework that can cost tens of millions – or more per project.
Trunk Tools is also launching the first fully autonomous AI-powered agent tailored to the construction industry: the Trunk Tools Schedule Agent. Utilizing Trunk Tools’ data infrastructure, the Schedule Agent offers a unique 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 on Trunk Tools’ proprietary AI platform, which is already used by many of the largest general contractors and several Fortune 500 companies. It helps construction teams stay on schedule by becoming more proactive on the job site without any additional effort by sensing project issues, surfacing insights, and taking action.
The Schedule Agent integrates seamlessly with schedule files, independently monitoring upcoming tasks to provide timely notifications to notify project managers, superintendents, and project engineers about open tasks, discrepancies or logistical problems.
KEY QUOTES:
“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. 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.”
“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. 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.”
- Dr. Sarah Buchner, Founder and CEO of Trunk Tools
“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.”
- Redpoint’s Erica Brescia, who is also the newest member of Trunk Tools board
“Trunk Tools showed that it can help our teams increase efficiency and save significant time by preventing rework. With TrunkText doing the ‘document digging’ for me, I can work more effectively and be more responsive in the field.”
- Andy Roy, a Gilbane Building Company senior superintendent who has leveraged Trunk Tools since 2023 on a large and complex construction project
