Trunk Tools, a New York-based AI platform tailored for the construction industry, has raised $20 million in Series A funding, bringing its total capital to $30 million.
Investors
The funding round was led by Redpoint Ventures, with participation from Innovation Endeavors, which led the Seed round.
Redpoint Ventures has partnered with visionary founders to create new markets and redefine existing ones since 1999. The firm invests in startups across the seed, early, and growth phases, and is proud to have backed over 578 companies, with 181 IPOs and M&A exits. Redpoint manages $7.2 billion across multiple funds.
Trunk Tools Use of Funds
Trunk Tools will use the funds to expand its suite of AI agents for the construction industry.
About Trunk Tools
Founded by Dr. Sarah Buchner, Trunk Tools specializes in AI solutions for construction project management. The company provides an AI platform designed to transform the construction industry by leveraging advanced artificial intelligence to build the "brain" behind construction. By helping construction professionals proactively monitor project schedules, manage critical documentation, and automatically alert impacted parties, Trunk Tools fulfills its mission of "empowering construction; let builders build."
Funding Details
Company: Trunk Tools, Inc.
Raised: $20.0M
Round: Series A
Funding Date: August 2024
Lead Investor: Redpoint Ventures
Additional Investors: Innovation Endeavors
Company Website: https://trunktools.com/
Software Category: Construction Management
Source: https://www.prnewswire.com/news-releases/trunk-tools-raises-20m-series-a-led-by-redpoint-ventures-to-expand-suite-of-ai-agents-for-construction-302224698.html