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Trunk Tools raised $20M in Series A funding led by Redpoint Ventures to expand operations and enhance development efforts.

Aug 20, 202412 months ago

Amount Raised

$20 Million

Round Type

series a

New YorkConstruction

Investors

Innovation EndeavorsRedpoint Ventures

Description

Trunk Tools, a NYC-based provider of an AI Platform for the construction industry, secured $20M in Series A funding. The funds will be used to expand operations and development efforts, focusing on leveraging AI technology to improve productivity in construction.

Company Information

Company

Trunk Tools

Location

New York, New York, United States

About

Trunk Tools is an innovative construction fintech startup solving the skilled labor shortage by enabling project leaders to increase workforce productivity, safety and profitability by aligning incentives from top to bottom, encouraging efficiency and positively motivating the workforce.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech