BOSTON--(BUSINESS WIRE)--Suffolk Technologies, the venture investment affiliate of Suffolk, is excited to announce the five startups selected to participate in its fifth annual BOOST program. Inefficiencies surround the entire built world lifecycle, and the BOOST 5 companies are utilizing artificial intelligence to streamline design, prefabrication, sustainability efforts, project management and data. BOOST is an intensive eight-week accelerator designed to drive growth and equip innovative built environment startups with the resources, mentorship, and industry connections they need to transform the sector. Throughout the program, startups will be guided by a team of mentors, including Suffolk leaders and strategic partners, offering unparalleled access to potential customers, pilot opportunities, and investors.
This year marks a significant milestone for BOOST, celebrating its fifth anniversary and reinforcing the program’s legacy of success. Over the past five years, BOOST has graduated 25 alumni who have gone on to raise more than $525 million in funding, with many receiving follow-on investments from Suffolk Technologies. Past BOOST participants have launched more than fifty pilots on Suffolk jobsites nationwide. Notably, several members of this year’s cohort are already collaborating with Operating Partners to solve pressing industry challenges.
“This year's BOOST 5 applicant pool reflected the increasing reach our program and Operating Partners have throughout the entire built environment lifecycle, particularly with companies focused on implementing AI to streamline data and design,” said Parker Mundt, Vice President of Platform at Suffolk Technologies. “Excitedly, we continue to see a surge in early-stage construction tech companies and a growing number of seasoned founders entering the built environment. We are encouraged by the diverse array of innovative solutions that address pain points across various stakeholders, and the immense amount of opportunity for innovation in the built world.”
The BOOST program has experienced sustained growth over the past five years, attracting over 750 applications, a testament to the program’s influence and ability to draw top talent and groundbreaking solutions. This year’s applicants represented 25 countries and spanned a diverse range of domains, with strong representation in key areas such as next-gen project and document management powered by artificial intelligence, design and engineering automation, and a strategic shift in sustainability efforts from mere measurement to active management. From this highly competitive pool, six outstanding finalists have been selected to join the program.
Genia: Genia generates engineering drawings using AI-powered generative design, delivering efficiency, speed and performance to engineering consultancies, general contractors and developers.
Kroo: Kroo is an all-in-one data platform for construction teams to help them harness their data and create actionable insights. Kroo aggregates project information across various data silos to enable construction stakeholders to have greater visibility into their projects to make data-driven decisions.
Novl: Novl is an all-in-one ERP solution tailored for engineering and architecture firms. Novl’s platform currently centralizes project management, time tracking, change orders, RFIs, resource planning, and billing for proactive decision making, and increased profitability.
Tangible: Tangible is a software solution for real estate owners, developers and general contractors to manage embodied carbon, helping them meet legislative requirements and chart a path to decarbonization.
Trunk: Trunk offers offsite manufacturers one system to operate their manufacturing and site assembly, stripping out wasted time and quality defects. Contractors use Trunk to align programs with delivery slots, dynamically update the manufacturing schedules, unlock new efficiencies for the manufacturers and to avoid program risk for the contractors.
Suffolk Technologies selected these startups through a rigorous application, interview, and vetting process supported by 36 operating partners—a 50 percent increase from BOOST 4. The chosen companies demonstrated strong leadership teams, significant market opportunities, and clear objectives to achieve during the program. The BOOST Operating Partners will support start-ups by offering operational expertise ranging from design and engineering to general contracting, materials providers, specialty contractors, insurance providers, and others spanning the full industry value chain.
Over the next eight weeks, BOOST 5 participants will gain exclusive access to Suffolk jobsites, project teams, and Operating Partners. The program, primarily conducted virtually, will culminate at Suffolk Headquarters in Boston, Massachusetts, with our fifth annual Demo Day on November 6, 2024. This event will showcase pitches from this year’s cohort, provide valuable networking opportunities, and conclude with an evening of celebration, attracting over 400 industry leaders from across the country. Additionally, Suffolk Technologies is excited to partner with BuiltWorlds, which will host its Venture East Conference in Boston on November 7. This collaboration will create a unique opportunity to bring together a critical mass of entrepreneurs and industry leaders for a week-long celebration of innovation in the built world.
“We are thrilled to continue our partnership with BOOST for the second year in a row,” said Mike McDonough, Chief Operating Officer at Axiom Builders and last year's BOOST 4 ‘Partner of the Year’ recipient. “Participating in BOOST allows us to engage directly with cutting-edge built world innovation and support founders as they scale solutions to the industry’s most pressing challenges.”
BOOST 5 programming is set to begin on September 16th, 2024 (the application process is closed for 2024). BOOST is co-presented by its core partners Autodesk, Moog Construction, Holcim, Axiom Builders, Group AMANA, McCusker-Gill, Inc., Liberty Mutual Insurance, Procore Technologies, Suffolk Construction, Swire Properties, Suffolk Design, and Liberty Construction. This year, BOOST welcomes back returning Operating Partners and sponsors including ARCO Murray, Century Drywall Inc., Feldman Geospatial, Gunderson Dettmer, LMRE, Thornton Tomasetti, and Zwick Construction. The program is also excited to announce new partnerships with Acciona, BI Group, Bluebeam, Bouygues, Build Boston, Cupertino Electric, Harkins Builders, Insperity, McKinstry, RXR, Schneider Electric, Simpson Strong-Tie, Socotec, The Select Group, Tidhar, ViaTechnik, and Weyerhaeuser.
About Suffolk Technologies
Suffolk Technologies is a venture capital platform funding the next generation of companies solving built environment challenges. Suffolk Technologies was recently recognized by AGC Partners as the #1 most active construction technology venture capital investor from 2018 to 2022. Led by Managing Partners Wan Li Zhu, Jit Kee Chin, and Puneet Mahajan, Suffolk Technologies invests in early and growth-stage startups transforming the built world across real estate and development, architecture, engineering and construction, property management, and smart cities. Leveraging Suffolk’s expertise and broad network of industry leaders, Suffolk Technologies partners with visionary founders to accelerate industry-wide adoption of breakthrough innovations ranging from pre-product to growth stages. For more information about Suffolk Technologies’ strategy and investments, visit SuffolkTech.com.
About Suffolk
Suffolk is a national enterprise that builds, innovates and invests. Suffolk is an end-to-end business that provides value throughout the entire project lifecycle by leveraging its core construction management services with vertical service lines that include real estate capital investment, design, self-perform construction services, technology start-up investment (Suffolk Technologies) and innovation research/development.
Suffolk – America’s Contractor – is a national company with more than $5.5 billion in annual revenue, 2,800 employees, and offices in Boston, Massachusetts (headquarters); New York City, New York; Miami, West Palm Beach, Tampa and Estero in Florida; Dallas, Texas; Los Angeles, San Francisco and San Diego in California; Portland, Maine; and Herndon, Virginia. Suffolk manages some of the most complex, sophisticated projects in the country, serving clients in every major industry sector, including healthcare, life sciences, education, gaming, transportation/aviation, federal government and public work, mission critical and commercial. Suffolk is privately held and is led by founder, chairman and CEO John Fish. Suffolk is ranked #8 on ENR’s list of “Top CM-at-Risk Contractors.” For more information, visit www.suffolk.com and follow Suffolk on Facebook, Twitter, LinkedIn, YouTube and Instagram.
