What is HOVER?
HOVER creates accurately-measured, customizable 3D models of homes from smartphone photos. This innovative approach allows homeowners to visualize projects before commencement, while providing professionals with tools to save time, reduce costs, and enhance transparency and collaboration in the home improvement and construction industries. The company operates within the burgeoning field of digital transformation for the building sector, leveraging advanced imaging and modeling technology.
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 Menlo Ventures, GV, and Standard Industries
Series D (2020): $60M backed by State Farm Ventures, Travelers Insurance Company, Guidewire Software, Nationwide, Alsop Louie Partners, Standard Industries, and Menlo Ventures
Key Investors in HOVER
Menlo Ventures
Menlo Ventures is a venture capital firm that invests in early and growth-stage technology companies, particularly in enterprise software and frontier tech.
Standard Industries
Standard Industries is a global building materials manufacturing and supply company, also involved in real estate and investment solutions.
State Farm Ventures
State Farm Ventures is an investment arm focused on supporting innovation within the insurance and financial services sectors.
What's next for HOVER?
With its latest major strategic investment, HOVER is poised for accelerated growth and innovation. The infusion of capital, totaling $119.2M with a recent significant injection of $60M, suggests a focus on scaling operations, enhancing its platform's capabilities, and potentially expanding into new markets or service offerings. This enterprise-level backing indicates strong investor confidence in HOVER's business model and its potential to disrupt traditional workflows in the home renovation and construction industries.
See full HOVER company page
