Porch– an online platform that connects homeowners to home improvement professionals using a data analytics- just nabbed over $65 million in Series B funding.
The company aims to fuel its rapid growth while developing products for the home improvement, maintenance, and home buying industry as well as scaling its operations infrastructure to meet growing demand from homeowners and professionals, it revealed through a news release.The total investment received so far by the outfit has gone up to $100 million with current investments from Valor Equity Partners, Lowe’s Companies, Inc., Founders Fund, Battery Ventures, Panorama Point Partners, Capricorn Investment Group, and others including home improvement expert Ty Pennington.
Last year Porch saw tremendous growth going from 1.5 million professionals to over 3.2 million and project insights growing from 90 million to over 130 million representing over $2.5 trillion in home improvement spend.
Both revenues and members have increased by 1000% in 2014, the end of which also saw the launch of the Porch App & Porch Booking Beta, tools enabling homeowners to find the best professionals for any home project as well as find the most convenient way to get small maintenance projects done at a pre-negotiated rates by Porch Certified Professionals. The apps are currently available for iOS.
Read more here.
(Image credit: Porch.com)
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