MIAMI —Miami-based Togal.AI, a startup bringing artificial intelligence to construction, has won yet another pitch competition with venture capitalists. Big Blue Innovations is announcing that Togal.AI has won first place in its pitch competition with Harbright Ventures,a Raleigh-based venture capital firm.
“Togal.AI did an outstanding job articulating both how their product is a game-changer for estimators and how Togal plans to scale their business. Furthermore, Togal showed a deep understanding of their potential value to investors. With proven-results from some of the largest companies in construction, we see enormous potential in Togal,” said Robert Ross of Harbright Ventures.
“We are so excited to have won two recent competitions, and interest from groups that historically are not construction tech investors,”said Patrick Murphy, Founder and CEO of Togal.AI. “This shows that Togal has immense value in the marketplace, and we’re just getting started.”
Togal uses machine learning to automatically calculate the square footage of areas and complete full take offs. It excels at managing complex construction documents with online collaboration — compressing weeks of work into seconds. Estimators at Coastal Construction, the largest General Contractor in Florida, are using Togal. It’s cut their workload by 40 percent – saving more than $1 million per year and 10,000 hours of work.
“Togal is revolutionizing estimating in construction in ways that we haven't seen before. Preconstruction teams save considerable time, allowing them to focus on other critical aspects of estimating such as pricing strategies, and have more time to bid more of the work they want to pursue,” said Jay Snyder, President of Big Blue Innovations. “A core focus of our mission is to propel technologies like Togal that can drive increased profitability for contractors.”
Togal.AI also recently took first place, out of thousands of startups, in the eMerge AmericasStartup Competition judged by SharkTank’s Kevin O’Leary. That prize was a $420,000 investment. Togal has also made BuiltWorlds’ Pre-Construction 50 List two years in a row, which names the hottest, construction-tech startups in the world.
Learn more about Togal.ai by visiting the company’s website www.togal.ai.