Trunk Tools, an AI platform disrupting the $13 trillion construction industry, has picked up $20 million in Series A funding. The round was led by Redpoint Ventures (which invested in Leya and Ramp) with participation from Innovation Endeavors, who led the seed round. The latest round brings the total capital raised by the company to date to $30 million.
How will it use the investment?
Trunk Tools will use the investment to expand its suite of AI agents targeted at the construction industry. The company is in plans to introduce the first fully autonomous AI-powered agent tailored to the construction industry – the Trunk Tools Schedule Agent.
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 revolutionise 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.”
What does the company do?
Trunk Tools was founded by Dr. Sarah Buchner in 2021 and is headquartered in New York. Initially a carpenter, she founded the startup to provide automation tools to organise unstructured construction documentation.
The company deploys solutions that streamline construction data management, automate tedious and repetitive work, and reduce waste.
By helping construction professionals proactively monitor project schedules, manage critical documentation, and automatically alert impacted parties, Trunk Tools fulfils its mission of “empowering construction; let builders build”.
Trunk Tools Schedule Agent details
Harnessing the company’s underlying data infrastructure, the Schedule Agent offers an unprecedented solution in the construction industry. It 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.
“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.”
