Streem, a US-based on-demand domestic services portal that counts digital media company Gree as an investor, has been acquired by home services insurance provider Frontdoor.
The price was not disclosed but will comprise both cash and equity in Frontdoor, including potential milestone-based equity payments.
Founded in 2017, Streem operates a mobile software-based platform that lets home services professionals analyse a customer’s property before they visit in person.
The system applies augmented reality and computer vision to home footage from a customer’s smartphone camera, enabling the professional to capture contextual data, diagnose renovation issues and make recommendations.
Frontdoor will integrate Streem’s technology into its home services offering, which provides access to network of qualified contractors who can repair or replace domestic systems or appliances in return for a monthly subscription fee.
Gree’s GVR Fund was among the investors in Streem’s seed round, which closed at $3.7m in March 2018, as were Archivist Capital, Oregon Venture Fund, Portland Seed Fund, Flying Fish Ventures, Rogue Venture Partners, Columbia Ventures, Curious Capital, Betaworks Greycroft, GGV Capital and General Catalyst AR.
The company added $6.8m in November 2018 according to a regulatory filing and was targeting an $8.7m close. Flying Fish led a round of undisclosed size backed by Loup Ventures in May this year according to Forbes.
The original version of this article appeared on our sister site, Global University Venturing.