Comcast Ventures, the corporate venturing arm of mass media group Comcast, led a $25m financing round for US-based home improvement service Curbio on Friday.
The round was backed by Second Century Ventures, the strategic investment arm of real estate trade body National Association of Realtors, in addition to venture capital firms Brick & Mortar Ventures and Camber Creek, while Silicon Valley Bank supplied debt financing.
Curbio runs a home improvement service tailored for estate agents, enabling them to hire professionals to conduct repairs and renovations in advance of a sale. The funding is intended to support technology development and help Curbio expand the market for its services.
Brick & Mortar Ventures and Camber Creek had previously co-led a $7m series A round in August 2019 that pushed Curbio’s overall funding to $13.6m. It had participated in Second Century Ventures’ startup accelerator, Reach, earlier in the year.
Maryland Venture Fund, which is managed by tech transfer office Maryland Technology Development Corporation, had led a $4m seed round for the company in November 2018 featuring individuals including Curbio CEO Rick Rudman.
Comcast Ventures principal Sheena Jindal said: “Curbio addresses the mismatch in the US housing market – 85% of homes are over 15 years old and more than half of new buyers are millennials who don’t want dated homes.
“Curbio ensures sellers get the most value out of their home quickly and reliably while giving buyers a move-in ready home with renovation wrapped into the price of the mortgage. We are looking forward to helping Curbio become a household name in proptech.”