US-based home renovation services Homebound has secured $35m in series B funding from investors including internet and technology group Alphabet’s GV unit, Forbes has reported.
The round was led by Fifth Wall and also featured fellow venture capital firms Forerunner Ventures, Thrive Capital and Khosla Ventures in addition to actor and VC investor Ashton Kutcher, according to Crunchbase News. It was closed in August 2019 but only revealed this week.
Homebound arranges a variety of homebuilding and renovation services, connecting users to professionals such as architects, excavators and interior designers that may be located outside of their immediate geographical area.
The company specialises in helping to rebuild homes that have been destroyed by disasters whole being insured. It is currently focused on California homeowners whose residences have been burnt down by wildfires that have riven the state.
However, Homebound intends to expand further afield and is eyeing Louisiana, where homes are vulnerable to hurricanes and flooding. It plans to eventually focus on helping new homeowners design their ideal house and then connecting them to the contractors that can build to their specifications.
Sources told Forbes they estimated the series B round valued Homebound at $200m, though the company has not revealed valuation details. Thrive Capital had led its $18m series A round in December 2018 according to Crunchbase.
