BuildDirect has raised a massive $50 million round.
The Vancouver-born company raised the major capital from new and existing US and Canadian investors including Mohr Davidow Ventures and OMERS.
The significant investment will be used to expand and scale the technology for the company’s Home Marketplace over the next 12 months.
“This commitment from investors is a strong signal for the support and belief in BuildDirect’s unique approach to technology and ability to rebuild a broken home improvement industry,” says Jeff Booth, CEO and co-founder of BuildDirect.
BuildDirect’s Home Marketplace is about using technology to open possibilities for both buyers and sellers, and delivering on an experience that is based on how someone participates in any given moment.
“For sellers, it’s about liquidity and growth not seen in the home improvement industry today,” adds Booth. For buyers, it’s a simple and trusted experience with an intuitive, end-to-end discovery from idea to delivery, the CEO says.
“This funding underscores the speed in which old-world industries are breaking down as platform companies, like BuildDirect, put the power in the hands of consumers,” says Katherine Barr, General Partner, Mohr Davidow Ventures.