Funding Will Fuel Renoviso’s Service Area Expansion and Customer Experience Platform
Renoviso, a service revolutionizing how homeowners complete renovation projects through transparency and technology, today announced that it has raised an additional $7M in funding led by Corigin Ventures.
Existing investors Bessemer Venture Partners, NextView Partners and FJ Labs, among other new investors, also joined the round. The new funds will be leveraged as the company expands into a number of new markets and continues to evolve its customer experience platform with augmented reality and mobile technologies.
Fraught with high-pressure sales tactics, little transparency and minimal reliability, the antiquated home renovation industry has frustrated homeowners for decades. Renoviso’s CEO and co-founder, Eric Horndahl, experienced many of those pain points when renovating his own home years ago. His frustrating experience served as the inspiration for Renoviso. Together with co-founder Brian Waldman, the pair saw an opportunity to leverage technology to create a fundamentally better home renovation experience.
Renoviso’s platform solves common industry issues by enabling consumers to seamlessly build project quotes online with fully transparent pricing. The company also offers tech-enabled project management and award-winning customer service throughout the home renovation journey. This unique approach has produced exceptional customer reviews from homeowners in existing Renoviso service areas, which include New England, the Greater New York Tri-State area, and the Greater Philadelphia area. Within the next year, the company plans to expand into new markets, including the Greater Washington D.C. area, Greater Baltimore, and Chicago.
“We’re thrilled to bring Corigin on board as we modernize the outdated and painful process homeowners go through to renovate their homes,” said CEO and co-founder Eric Horndahl. “We’ll leverage this new round of funding to execute our planned expansion and invest in new technologies, like AR and mobile, in order to build an even better customer experience.”
The funding announcement comes on the heels of an incredible year for Renoviso. In 2017, hundreds of thousands of homeowners visited Renoviso.com to build a home improvement project, and the total value of those projects grew more than 3x year over year.
“Renoviso offers a much needed, modern platform to homeowners looking to seamlessly execute a home renovation project,” said David Goldberg, general partner at Corigin Ventures. “We look forward to working with Renoviso as they continue to grow their business and prove that the home renovation industry can be transformed through technology and better customer service.”
Renoviso previously raised $4.9M in funding from Bessemer Venture Partners, NextView Partners, NextGen Venture Partners and others. The co-founders have an established track record of building high-growth businesses, including BuyerZone, Cayan, eBay, and FlipKey (TripAdvisor).