Custom Homebuilder Homebound Raises $75M Series C Led By Khosla
02/15/22, 2:31 PM
Money raised
$75 million
Round Type
series c
Homebound started out to help people rebuild after their houses were destroyed by California wildfires in 2018.
Company Info
Additional Info
But over time, the company realized that its digital general contracting and “personalized” homebuilding services could be applied to non-disaster use cases as well — especially in regions where there is a major shortage of inventory. And today, the Santa Rosa, California-based startup is announcing it has raised $75 million in a Series C funding round led by Khosla Ventures toward its efforts to help address those inventory shortages with its technology. The company starts by helping a potential homeowner identify land they want to build on, or helping them find a lot among the inventory Homebound has already built up. Pechet said the company’s existing backers were eager to invest again because Homebound has “done all the things we said we were going to do.”The startup says it will use its new capital to scale rapidly across new markets in the U.S. — starting with Dallas, Houston and Denver — and continue to invest “heavily” in building a proprietary technology platform to “combat the drastic supply/demand imbalance” that exists in cities. Homebound started out to help people rebuild after their houses were destroyed by California wildfires in 2018. It says: “The result is more efficient projects that are 80% faster through pre-construction, 10% faster during construction, and 8x more efficient during the architecture and design phase with an average cost savings of up to 30% when compared with other local custom builders.”Homebound currently has just over 200 employees and also plans to use its new capital to conduct “massive hiring across the board.” And while there are many participants in the construction ecosystem, Homebound has a relatively unique approach in terms of breadth and leveraging technology,” Weiden added.