Trunk Tools’ Special Agents Target Construction Industry

Trunk Tools, a New York-based company specializing in artificial intelligence (AI) applications for the construction industry, has completed a $20 million Series A funding round led by Redpoint Ventures. Also participating in the round was Innovation Endeavors, which previously backed the company in its Seed round.

Trunk Tools’ AI-backed data management and workflow automation platform provides structure to unstructured project data—such as emails, reports, and schedules—and deploys AI agents to assist construction professionals in managing their administrative tasks. The company’s applications not only save time but also help prevent delays and errors, thereby reducing the financial risks associated with large-scale construction projects. Trunk Tools was founded in 2021 by its CEO, Dr. Sarah Buchner.

New York City-headquartered Trunk Tools plans to use the newly raised funds to accelerate product development and strengthen its relationships with existing clients, which include some of the world’s largest general contractors and numerous Fortune 500 companies.

A specific example of the company’s applications is its “Schedule Agent,” an AI-powered tool that autonomously manages and monitors construction schedules. This agent integrates directly with existing schedule files, independently tracks tasks and then provides alerts to project managers, superintendents, and engineers about potential scheduling issues.

“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. Buchner. “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.”

A 2023 report by McKinsey & Company suggests that the construction industry, one of the least digitized sectors, could see productivity gains of up to 15% through the adoption of advanced technologies like AI and machine learning. However, the sector has traditionally been slow to embrace these innovations, partly due to the complexity of managing unstructured data and the manual nature of many construction tasks.

Trunk Tools stated mission is to overcome these challenges by providing AI applications that automate tedious tasks and improve decision-making processes by providing actionable insights derived from extensive data.

“Growing up in the construction industry, I have a deep appreciation for the complexities of commercial projects,” said Erica Brescia, a partner at Redpoint. “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.”

Another Trunk Tools’ application is TrunkText, an AI-backed tool that lets construction workers send text messages to get important project information quickly. By texting their questions, users can receive fast answers and relevant documents, saving time on the job site.

Andy Roy, a senior superintendent at Gilbane Building Company, has been using Trunk Tools on a large, complex construction project since 2023. “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.”

Trunk Tools faces competition from several established and emerging companies including Procore Technologies, a California-based public company specializing in construction management software; Autodesk Construction Cloud, a division of publicly traded Autodesk, which offers a suite of construction software tools; Rhumbix, a privately held California-based provider of construction field management software; and Built Robotics, a private California-based company that develops autonomous construction machinery. However, according to Trunk Tools, its focus on AI and its ability to structure unstructured data distinguishes its market competitors.

“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,” concluded 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.”

Redpoint Ventures invests across seed, early, and growth stages. The Menlo Park-headquartered firm manages over $7.2 billion in assets and has been involved in more than 180 initial public offerings and other exits since its founding in 1999.

Innovation Endeavors was founded by Eric Schmidt, former CEO of Google, and focuses on early-stage investments in emerging technologies. The firm is based in Palo Alto, California, and has invested in a wide range of sectors.

With the close of this Series A round, Trunk Tools’ capital funding now totals $30 million.