What is HOVER?
HOVER specializes in the creation of highly accurate, customizable 3D models derived from simple smartphone photography. This proprietary technology serves as a critical bridge between homeowners, contractors, and insurance providers, facilitating enhanced visualization, precise measurements, and streamlined project management. By digitizing the physical environment, HOVER effectively reduces operational friction, minimizes waste, and fosters a more transparent collaborative ecosystem for home improvement and property assessment professionals. Its market position is solidified by its integration into the workflows of major insurance carriers and building material manufacturers.
How much funding has HOVER raised?
HOVER has raised a total of $119.2M across 5 funding rounds:
Series A
$4M
Debt
$5.2M
Series B
$25M
Series C
$25M
Series D
$60M
Series A (2013): $4M, investors not publicly disclosed
Debt (2013): $5.2M led by Almaz Capital
Series B (2018): $25M supported by Standard Industries, GV, and Home Depot
Series C (2019): $25M featuring GV, Standard Industries, and Menlo Ventures
Series D (2020): $60M backed by Guidewire Software, Travelers Insurance Company, Menlo Ventures, Alsop Louie Partners, Nationwide Ventures, State Farm Ventures, and Standard Industries
Key Investors in HOVER
Standard Industries
Founded in 1886, Standard Industries is a global building materials manufacturing and supply company. Their products include a variety of roofing, waterproofing, insulation, and aggregate, as well as solar solutions and real estate and investment solutions.
Menlo Ventures
Menlo Ventures is a Menlo Park-based venture capital firm that invests in early and growth-stage technology companies across sectors such as enterprise software, consumer internet, fintech, and infrastructure.
Nationwide Ventures
Nationwide is a Fortune 100 company and one of the largest diversified insurance and financial services organizations in the U.S., providing a full range of insurance and financial products.
What's next for HOVER?
With the infusion of capital from its most recent funding round, HOVER is well-positioned to accelerate its enterprise-level expansion and deepen its integration within the property insurance and construction supply chains. The company is expected to focus on scaling its 3D modeling capabilities, enhancing its data analytics suite, and expanding its footprint among large-scale institutional clients. As the industry continues to prioritize digital transformation, HOVER's ability to provide actionable, data-driven insights will likely remain a cornerstone of its growth strategy, potentially leading to further market consolidation and the development of new, high-value service offerings for the residential and commercial property sectors.
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