US-based exterior design modelling platform Hover attracted $25m on Monday in a series B round led by GV, a corporate venturing subsidiary of internet technology conglomerate Alphabet.
Home improvement retailer Home Depot and building materials provider Standard Industries also participated in the round, which took the company’s overall funding to approximately $56m according to media reports and regulatory filings.
Founded in 2011, Hover has built a software platform that combines computer vision and deep learning to draw up 3D models and measurement forecasts for exterior design projects.
The technology is intended to help designers accurately quote prices for their work while letting the customer view how the work will look.
Tyson Clark, a general partner at GV, said: “Many people are familiar with computer vision and deep learning only as abstract technical concepts.
“What is great about Hover’s platform is that they are taking this technology and applying it in a practical, useful way to people’s lives.”
The series B capital will be used for research and development to enhance Hover’s computer vision and deep learning capabilities, and to expanding the product’s reach by strengthening the company’s sales and marketing capabilities.
Hover received $14m from undisclosed investors in October 2016, according to a securities filing. Alsop Louie Partners had led Hover’s $6m series A round in 2015, investing together with fellow venture capital firm Almaz Capital and property manager Maverick Investments.