San Francisco-based startup Hover, which uses smartphone photos of buildings to build 3D-visualizations for use by contractors and insurance companies, announced that it has raised an additional $25 million in capital by TheAlexKnapp
San Francisco-based startup HOVER, which uses smartphone photos of buildings to build 3D-visualizations for use by contractors and insurance companies, announced Thursday that it has raised an additional $25 million in capital through a Series C round led by Menlo Ventures. Prior investors also participated in the round, which brings the company’s total funding to $87 million. Menlo Ventures partner Matt Murphy will also be joining Hover’s board.
The company’s platform also makes these models interactive - so if a homeowner is interested in a renovation project, they could sit down with a contractor and cycle through options for style, material, color, and more. It has partnerships with the likes of Home Depot, materials distributor Beacon, and others, enabling contractors and homeowners to see pricing and materials options right on the app.
After taking some time to build the app and getting it out to market, Altman says that the company has seen enormous growth, doubling the number of employees every year for the past two years. The goal of this capital raise is to keep hiring new people, with a dual goal of improving the customer experience on its app and building up its sales team.
"You have to make it super simple and they have to feel an immediate or ROI or benefit," Murphy said."I think HOVER nails that."
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