What is HOVER?
HOVER specializes in creating highly accurate, customizable 3D models of homes using smartphone photography. This technology empowers homeowners to visualize potential projects before commencement, while simultaneously enabling construction professionals to enhance efficiency, reduce costs, and foster greater transparency and collaboration throughout the project lifecycle. The company operates within the burgeoning proptech and construction technology markets, leveraging advanced imaging and modeling capabilities.
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 Home Depot, GV, and Standard Industries
Series C (2019): $25M featuring GV, Standard Industries, and Menlo Ventures
Series D (2020): $60M backed by Guidewire Software, State Farm Ventures, Menlo Ventures, Nationwide, Standard Industries, Travelers Insurance Company, and Alsop Louie Partners
Key Investors in HOVER
Almaz Capital
Almaz Capital is a venture capital firm focused on technology investments, providing financial support and strategic guidance to entrepreneurs in innovation and sustainability.
Menlo Ventures
Menlo Ventures is a venture capital firm investing in early and growth-stage technology companies across enterprise software, consumer internet, fintech, infrastructure, and frontier tech.
Standard Industries
Standard Industries is a global building materials manufacturing and supply company, offering roofing, waterproofing, insulation, and solar solutions, alongside real estate and investment services.
What's next for HOVER?
With substantial enterprise-level backing and a recent strategic investment, HOVER is well-positioned for accelerated growth. The company is likely to focus on expanding its technological capabilities, enhancing its platform's features for both homeowners and industry professionals, and potentially broadening its market reach. Future strategic initiatives may include deeper integration with other construction and renovation platforms, further development of AI-driven analytics from its 3D models, and exploring new applications for its core technology in related industries. The consistent flow of capital indicates strong investor confidence in HOVER's business model and its potential to disrupt traditional workflows in the home improvement and construction sectors.
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