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Florida Funders Invests 5 Million in Togal.AI
"The accuracy of the takeoff is critical to an estimate.
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CIO Applications | Monday, April 03, 2023

Florida Funders reveals their USD 5 million investment in Togal.AI's Pre Series A SAFE round.
FREMONT, CA: "The accuracy of the takeoff is critical to an estimate. Togal.AI greatly reduces the risk of error and adds hours back into my staff's time. As manpower has become more costly, we need to be able to complete more in less time with the resources we have available to us. Togal.AI is a no-brainer," commented Chris Christy, Vice President of Estimating at Kauffman Lynn.
Florida Funders, one of the top venture capital leaders, reveals their USD 5M Pre Series A SAFE round investment in Togal.AI. This AI-powered construction software automates the takeoff within the construction estimating process.
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Togal.AI will use the new funds to hire and develop new products. In a traditionally manual process, the company uses machine learning to reduce errors and labor costs by automatically and accurately detecting and measuring project spaces in seconds with 97 percent accuracy. This process used to take hours or days. General contractors and subcontractors can respond to more proposals faster, resulting in better results by using Togal.AI.
"This is one of the more innovative applications of AI we've seen for a growing industry ripe for disruption," said Saxon Baum, Partner at Florida Funders. "Patrick's deep, firsthand knowledge of the construction industry's ins and outs make him the ideal founder Florida Funders wants to back."
"Growing up in a family construction business, I learned estimating from my grandfather 25 years ago," said Patrick Murphy, Chief Executive Officer of Togal.AI. "We used rulers, rollers, highlighters, and a calculator to perform takeoffs. Then the industry moved to computers, where we manually used a mouse to measure each space. It's beyond exciting to now bring AI to the industry. Construction is at an inflection point, and I believe the next decade will be transformative. The pandemic accelerated the acceptance of new methodologies, and the technology has finally caught up to drive better results, higher quality, and faster deliveries, all at a better price."
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