The Battery Ventures-backed startup was created by former construction operators who built AI software to solve problems inside their own contracting business.
Shackleton AI has raised $5 million in seed funding led by Battery Ventures, emerging from stealth with an AI-powered platform designed to manage construction projects.
The financing, announced November 4, includes participation from Brick & Mortar Ventures, Trust Ventures, Correlation Ventures, Motivate Partners and other investors.
Founded by Michael Ragheb, Hassan Yasin and Olexandr Kaltsev, the New York company develops an operating system combining construction management workflows with AI agents.
Its platform currently manages more than $1 billion in project value across over 15 US states, according to the company.
That figure represents the value of projects managed through the software, not Shackleton's revenue.
Built Inside a Construction Business
Before launching Shackleton, the founders operated Ernest, a technology-enabled general contractor that grew to approximately $35 million in annual revenue.
Running that business exposed them to the inefficiencies of traditional construction software.
Project teams often maintain separate systems for schedules, bids, documents, budgets and communication.
Information frequently has to be copied between applications, creating additional administrative work and increasing the possibility of missed deadlines.
The founders initially built software for their own operations before offering it commercially.
AI Agents for Construction Projects
Shackleton's platform connects project information in one system.
Its AI agents can draft requests for information, monitor overdue submissions, identify budget inconsistencies and generate daily reports from field notes.
The goal is to reduce repetitive administrative work while allowing construction managers to focus on operational decisions.
Shackleton reports serving companies and brands including Red Lobster, Dog Haus and Pepper Lunch.
It says some multi-location customers have completed buildouts up to 35% ahead of schedule and as much as 18% under budget.
Those are selected company-reported outcomes, not independently verified averages.
The Challenge of Construction Software
Construction is a large market, but implementing software across physical job sites can be difficult.
Projects involve contractors, subcontractors, suppliers and owners working across changing schedules and environments.
AI tools must operate reliably with incomplete information, while keeping humans responsible for financial approvals and critical decisions.
Shackleton plans to use the seed funding to expand its agents and commercial operations.
Its next challenge is proving that AI can coordinate real construction workflows at scale rather than simply generate reports from project data.
Source: PR Newswire