Washington, D.C.-based home improvement marketplace Remodelmate closed a $525,000 seed funding round led by CoVenture, which will be used to scale marketing and to launch new product features, according to a news release from Remodelmate.
“We created Remodelmate to eliminate the many pain points found on both sides of the multi-billion-dollar per year U.S. home remodeling marketplace,” Chad Hall, founder and CEO of Remodelmate, said in a public statement. “We’re using technology and transparency to save homeowners time and money while simultaneously allowing contractors to grow their businesses efficiently.”
In its third year of operation, Remodelmate began 2019 with 50% month-over-month growth and is ambitious about its growth for the remainder of the year, according to the release.
“We see Remodelmate as an industry-defining company,” said Thatcher Bell, partner at CoVenture. “Our firm only invests in teams who are highly knowledgeable and passionate about what they’re building—and the Remodelmate team is no exception. We’re excited to continue helping them grow as a company and ultimately shape the future of home remodeling.”
The D.C. startup recently partnered with interior design service Havenly for kitchen renovations and online personal finance company SoFi for project loans up to $100,000 with monthly payments. Earlier this month, Remodelmate updated its online web interface with AI-enhanced SMS bots, scheduling capabilities, a custom dashboard, and two-way project management.