Togal AI Achieves Remarkable Revenue Growth in Miami

Togal AI Office Environment

News Summary

Togal AI, a Miami-based company transforming the construction estimating process through artificial intelligence, has reported an incredible 333% revenue growth within one year. Founded in 2019, the platform has attracted over 4,000 users and processed more than three million construction documents. As the company plans to expand its workforce by 40-50% in 2024, it aims to introduce advanced features like Togal GPT to further streamline project management. With significant funding and multiple accolades, Togal AI is poised for continued success in the construction industry.

Exciting Times in Miami: Togal AI Soars with Impressive Revenue Growth!

Miami is buzzing with excitement as Togal AI, an innovative company revolutionizing the construction estimating process, proudly announces an astounding 333% revenue growth in just one year! This Miami-based powerhouse is determined to make waves in the construction industry.

What’s Their Secret Sauce?

Founded in 2019, Togal AI harnesses the power of artificial intelligence to automate construction project estimates, which means contractors are no longer bogged down by tedious manual calculations that can stretch on for weeks. Instead, they can measure the square footage of spaces in a matter of seconds! By allowing users to upload construction documents to their platform, Togal AI has already amassed over 4,000 users who have uploaded at least three million construction documents. Talk about efficiency!

In 2024 alone, Togal AI users racked up an incredible 131,490 hours of working time on the platform—just imagine that, it’s roughly equivalent to working for 15 years! This is excellent news for contractors who can now respond to more proposals and scout around for additional job opportunities.

In a League of Their Own

Who are these users? They come from a diverse range of construction contractors, including flooring businesses, painters, and drywallers. And it doesn’t end there! Togal AI’s direct-sale bookings skyrocketed by an impressive seven-fold in 2024. Clearly, the construction world is catching on to the immense benefits that Togal AI offers!

A Growth Surge on the Horizon

With the company’s rapid growth, it’s no surprise that Togal AI plans to increase its workforce by a whopping 40-50% in 2024. Currently boasting a team of 30 employees, Togal AI is gearing up to empower even more talented individuals to contribute to their mission of transforming the industry.

The startup’s recent funding has paved the way for this expansion. In 2023, Togal AI successfully secured $5 million in a pre-seed funding round, attracting investors including Florida Funders and the family-founded Coastal Construction. They’re heading into 2025 with grand plans of introducing new technology that allows AI agents to interact with users more intuitively, enabling them to take notes and organize feedback to streamline routine tasks. The goal? To enhance employees’ capabilities, not replace them!

Aiming for the Future

Looking ahead, Togal AI’s plans include rolling out exciting features such as Togal GPT, aimed at helping users navigate through extensive project documents effortlessly. This innovative software measures spaces with a staggering 97% accuracy, making any manual measuring look like a thing of the past.

Recognition and Achievements

Togal AI is no stranger to accolades. Their remarkable journey includes winning the grand prize at the 2022 eMerge Americas Startup Showcase, earning a cool $420,000 investment, and impressively serving notable clients such as DPR, Clark Construction, and Total Flooring. It’s no wonder that trust and demand for their product have been instrumental in their swift growth!

Striving for Continuous Improvement

What drives Togal AI? It’s Patrick Murphy’s keen insight into the construction industry, having previously served as a congressman. This background informs the development of their solutions, always prioritizing user feedback and continuous product refinement. As the construction technology sector attracted $3.1 billion in funding in 2024 alone, Togal AI is well-positioned to ride the wave of innovation and growth.

As Miami continues to thrive, Togal AI is set to make a mark, not just in the local construction scene, but possibly on a global scale. Here’s to a future filled with efficiency, innovation, and exciting opportunities in the world of construction!