Togal.AI Makes List of Hottest South Florida Companies
Togal.AI uses AI to automate project cost estimates, finishing a weeks-long process in seconds.
Togal.AI, a company bringing artificial intelligence to construction, has made the list of the hottest startups in South Florida.
The South Florida Business Journal named Togal.AI on the “2024 Inno on Fire Awards,” which honor innovative companies in fields such as virtual reality, construction, surgical robotics and medical technology. Miami Inno’s editorial team considered a variety of factors for the award, including funding, revenue growth, acquisitions, expansions, community impact, product launches and future potential.
“We are thrilled to be recognized as one of the leading companies driving innovation in South Florida’s tech ecosystem,” said Togal.AI CEO Patrick E. Murphy. “While there has been considerable debate about the profitability of AI, our experience in the construction industry shows that the AI revolution is not just hype. The technology’s ability to dramatically reduce time and effort is a game-changer, making AI tools like Togal indispensable for workers.”
Since launching in 2021, Togal.AI has experienced rapid growth by using AI to automate project cost estimates, finishing a weeks-long process in seconds. Coastal Construction, the largest general contractor in Florida, used Togal to save about $1 million and 10,000 hours of work in a year. This significant impact highlights why the construction industry, traditionally slow to digitize, is becoming a leader in AI profitability.
Togal.AI also pioneered the use of ChatGPT in construction, enabling workers to verify construction plans and find answers within hundreds of pages of documents instantly by simply typing questions into their phones. Founded by Coastal Construction executive Patrick E. Murphy, Togal.AI reported a 940% revenue growth in 2023, the same year it raised $5 million in a seed funding round.
About Togal.AI:
Based in Miami, Florida,?Togal.AI?is one of the fastest-growing construction technologies, with thousands of users from some of the world’s largest contractors. Named by the South Florida Business Journal as a top startup to watch in 2023, Togal also won The Big 5 Global Construction Pitch Competition in Dubai, AGC Innovation of the year in 2023 and Miami’s eMergeAmericas Startup?competition judged by Shark Tank’s Kevin O’Leary. The company was featured on the EntrepreneurTV show Elevator Pitch, selected for?Venture Atlanta, and has made?BuiltWorlds’ Pre-Construction 50 List?three years in a row, which names the hottest construction-tech companies in the world.
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