Renoviso Announces Series A Investment Led by Bessemer Venture Partners
BOSTON, September 1, 2016-- Renoviso, a service transforming how homeowners complete renovation projects via transparency and technology, has raised a $3.5 million Series A round led by Bessemer Venture Partners. Renoviso will use the funding to expand its product categories, move into new geographic markets and continue to build its world-class team.
Renoviso makes it simple for homeowners to renovate their homes by enabling them to get customized online pricing on products from the best brands in home improvement including professional measurement and installation. Renoviso handles the entire renovation process through completion, all at a great price. This unique approach has produced exceptional customer reviews from homeowners throughout eastern New England in Renoviso's initial product categories, which include windows, doors, and hardwood flooring.
"We're thrilled to have world-class investors like Bessemer Venture Partners who believe in our mission and in the enormous opportunity to fix the painful, antiquated process homeowners go through to renovate their homes," said CEO and co-founder Eric Horndahl. "Our team has built the foundation for a transformative business and this investment will help us further fulfill our vision of becoming the largest home renovation company in the country."
"Home renovation is a massive $300 billion U.S. market that is known for lacking transparency and leaving customers consistently frustrated," said Kent Bennett, Partner, Bessemer Venture Partners. "Renoviso's team and technology are bringing a superior consumer experience to home renovation, and we are excited to partner with the company as they continue to grow their loyal base of customers and installers."
Horndahl's frustrating and high-pressure experience with his home project 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 offers fully transparent prices, removes high-pressure sales tactics and manages the entire process including installation. The co-founders have an established track record of building high-growth businesses including BuyerZone, Cayan, eBay, and FlipKey (TripAdvisor).
The round also includes participation from its seed investors, including NextView Partners, RRE Ventures, NextGen Venture Partners, Niraj Shah & Fabrice Grinda.
Renoviso simplifies how homeowners complete home renovation projects via technology, transparency, and an amazing customer experience. Its end-to-end service for window, door and hardwood flooring projects in eastern New England has earned exceptional acclaim and customer reviews. Renoviso uses technology and an obsessive focus on exceptional customer experience to create the most simple, stress-free renovation experience ever. For more information about Renoviso, please visit www.renoviso.com.
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