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Autonomous building technology startup BrainBox AI today announced the closing of a CA$12 million (about $8.59 million) convertible note round, which it plans to use to expand in North America (particularly its home market of Canada) and international markets such as the UK, Ireland and Australia. The cash infusion comes as businesses not impacted by lockdowns seek to stave off the economic impact of the pandemic. BrainBox's AI platform enables autonomous operation of heating, ventilation and air conditioning (HVAC) in buildings, reportedly reducing overall energy costs by up to 25% and increasing employee comfort by 60%.

BrainBox, founded in 2017 by CEO Sean Neely and CTO Jean-Simon Venne, uses a combination of machine learning and cloud computing to optimize commercial HVAC control systems. The company first installs its system-agnostic, sensor-free solution to identify and catalog a building's operating behavior and energy flow by collecting data from internal and external sources, including hundreds of thousands of real-time data points such as temperature, sun/cloud position, fan speed, duct pressure, heater status, humidity, and occupant density. After six to eight weeks of data collection, BrainBox's AI engine can identify patterns to isolate each zone's habits and tendencies, as well as aggregate equations for each zone to create an overall profile.

After creating this profile, BrainBox's engine makes informed predictions about future power usage and sends feedback to the HVAC controller every five minutes to make adjustments. Neely claims that most customers see a 20-40% reduction in carbon footprint within the first few months of deployment.

AI for HVAC optimization isn't exactly new. Augury, a startup that develops sensors that plug into machines and record data that is then analyzed in the cloud, works with service companies to diagnose and optimize systems like industrial HVAC systems. GE Digital's Predix and startup Petasense offer similar Wi-Fi-enabled, cloud- and AI-driven monitoring sensors. Carbon Relay offers a product that uses sensor data to make predictions about data center cooling usage. And Google recently launched a feature on Nest-brand thermostats designed to detect HVAC problems.

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However, BrainBox says it is working with a number of notable partners and institutions to refine its platform, including the U.S. Department of Energy's National Renewable Energy Laboratory, the Institute for Data Valorization, Montreal's École de Technologie Supérieure and McGill University. In the short term, the company hopes to develop an algorithm that maps all of a building's HVAC control points while meeting government and industry standards.

Another plus point for BrainBox is its market momentum. In the 11 months since the company launched in May 2019, its platform has been installed on over 4.5 million square meters of commercial space in 15 cities on three continents. Locations include airports, hotels, residential buildings, nursing homes and grocery stores. Installations are active in over 40 buildings, some of which are over one million square meters in size.

“The autonomous nature of our technology makes it truly scalable, and because we reduce energy consumption in buildings by over 20%, we are positioned to have a really positive impact on greenhouse gas emissions from the real estate sector, one of the largest emitters globally,” Sam Ramadori, BrainBox's chief business development officer, told VentureBeat via email. “It's very exciting for the entire BrainBox AI team to be building a global company that can make a real difference on climate change.”

Montreal-based BrainBox currently employs 50 people and expects to hire over 100 people by year-end. This latest round of funding, led by Esplanade Ventures with participation from Desjardins Capital, brings the company a total of over 19 million Canadian dollars (approximately $13.6 million).

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The post BrainBox raises $8.59 million to optimize HVAC techniques with AI appeared first on Los Gatos News And Events.

Dan Laufer vowed to ever start a startup again after selling apartment rental platform RentLingo in 2021, but Laufer also couldn't ignore the potential to solve a problem he saw emerging as head of growth and product marketing at Nextdoor.

“Nextdoor is most commonly used by people searching for providers, particularly HVAC,” Laufer told TechCrunch. “There were these gaps on the consumer side, satisfaction with the experience, it didn’t feel modern. The other big trend I saw was the silver tsunami. All these baby boomers who own these and don’t necessarily have an exit plan.”

The result was PipeDreams, a startup that acquires small and large HVAC and plumbing companies and scales them using its software that helps with planning and marketing. PipeDreams allows business owners to retire when necessary without losing their employees, name or brand, or simply become part of a larger company with more resources, Laufer told TechCrunch.

PipeDreams just raised a $25.5 million Series A led by Canvas Ventures and Plural with additional funding from DoorDash founder Tony Xu and former OpenTable CEO Thomas Layton. PipeDreams has acquired nine companies to date and currently operates in the San Francisco Bay Area, Tucson and Denver with plans to expand.

“The beauty of this industry is that it’s huge. There are over 100,000 plumbing and heating, ventilation and air conditioning companies,” Laufer said of the U.S. market. “We intend to keep their brand. A lot of these people have their names on the truck, it’s very personal.”

PipeDreams' strategy is a variation of the private equity roll-up model, in which PE firms buy smaller companies in a niche (private schools, dentistry, healthcare) and combine them into a larger company with the intent of becoming the larger Selling companies to make profits for investors.

PipeDreams also uses debt to fully acquire the companies, but is not tied to a tight lifecycle timetable to generate returns or exit, such as the four to six years expected with PE. The company has a $15 million credit facility that will be used to purchase businesses and will use the equity raised to improve its software. Laufer said he expects future rounds will need to raise more debt than equity.

Roll-up strategies are not common for venture capital-backed startups. The best comparison for this is Amazon aggregator startups like Perch and Thrasio, which have recently had financial problems. But unlike those aggregators, the underlying companies that PipeDreams buys are not at the mercy of a company like Amazon, which can change the rules at will, and the companies that PipeDreams buys have stronger relationships with its customers than Amazon brands.

However, PipeDreams could face the same growth hurdles that Amazon aggregators face, such as if a new entrant wins more business or if a local plumber improves its SEO or digital marketing strategy.

Laufer said taking over the HVAC companies completely sets PipeDreams apart from other competitors that only want to connect consumers with professionals like Angie and Thumbtack. He said that, like many of its competitors, the marketplace model is not rigid because consumers can search for professionals directly after finding them through a marketplace. Because PipeDreams integrates its technology into each provider's website, it is part of the process every time someone books with that professional.

PipeDreams also addresses the skills shortage in the HVAC and plumbing industries, as Generation Z is less interested in learning trades than the generations before them. The company launched an apprenticeship program in the fourth quarter to provide employees with on-the-job training. So far there have been five students with plans to expand.

While the company still has a long way to go to flesh out its HVAC-focused business, Laufer expects to expand into other categories in the future, including electricians.

“We bought [a company] When the owner had a celebratory dinner a few weeks ago, he described it as: “My company is going to college,” Laufer said. “'I grew it up and it's on its way to the next chapter.' I love this description. We do it like this.”

The post Former Nextdoor exec raises $25 million for PipeDreams, a startup rolling up HVAC corporations appeared first on Los Gatos News And Events.

PipeDreams, a technology-enabled home services provider, announced $25.5 million in Series A funding led by Canvas Ventures and Plural. Angel investors include Tony Xu (the founder of DoorDash), Thomas Layton (the founder of CitySearch, former CEO of OpenTable and chairman of UpWork), and Allison Pickens (former COO at Gainsight). With this round of financing, the company has raised a total of $39 million.

PipeDreams is committed to becoming the most respected home service provider in every market nationwide. It is a vertically integrated home services provider whose technology layer improves the experience for technicians and customers, delivering five stars in approximately 91% of customer reviews.

And it acquires leading companies in local markets, employs all of its artisans and integrates a unique technology stack to improve their revenue, productivity and quality of life while providing excellent customer service.

PipeDreams' AI platform connects employee skills to projects, optimizes job routes and schedules, and automates inventory management. With PipeDreams, technicians earn an average of 30% more. PipeDreams' technology layer leverages automation, digitalization and improved customer/technician experience to achieve 100% growth of an existing business in two years.

As technology has transformed countless industries, home services still rely on the hands-on performance of qualified on-site technicians and coordination of schedules. And over the past two decades, intermediaries have emerged to make it easier for consumers to find and schedule appointments. However, these aggregated solutions are a patchwork of providers and promises, resulting in inconsistent and frustrating consumer experiences that prevent companies from building deeper loyalty.

PipeDreams companies operate in the San Francisco Bay Area, California Central Coast, Southern California, Tucson, Arizona, Denver, Colorado and McAllen, Texas. And they will be expanding to additional locations in the coming year.

MOST IMPORTANT QUOTES:

“The rise of vertical SaaS has been a boon for many service industries, but in conversations with owners and consumers, we found that a software layer alone doesn't go deep enough to streamline operations or provide reliable service to customers. I have seen firsthand the power of technology to connect local communities. We built PipeDreams to meet and elevate expectations with an end-to-end approach that puts the right person in the right job, secures advancement opportunities for that person, and provides business owners with opportunities to scale their visions and brands.”

• Dan Laufer, CEO and founder of PipeDreams, who previously led growth and product marketing at Nextdoor

“PipeDreams’ use of technology – bringing it into every aspect of the business rather than on the surface – is proving transformative not only for their teams, but also for their customers. They provide liquidity to a generation of owners while expanding their legacy and teams, doubling organic growth in just a few years, and creating loyal, satisfied customers. We are proud to support them on this journey.”

• Mike Ghaffary, general partner at Canvas Ventures

“I have spent much of my career supporting small business owners and tradespeople, and while digitalization has brought many benefits, I have long been convinced that verticalized solutions that integrate software and service are the way of the future. “I am very excited to be turning this vision into reality at PipeDreams.”

• CPO Darren Merritt (former VP of Engineering at ServiceTitan)

The post Dwelling Companies Supplier Firm Raises $25.5 Million appeared first on Los Gatos News And Events.

Photo credit: erhui1979/Getty Images

Dan Laufer vowed to ever start a startup again after selling apartment rental platform RentLingo in 2021, but Laufer also couldn't ignore the potential to solve a problem he saw emerging as head of growth and product marketing at Nextdoor.

“Nextdoor is most commonly used by people searching for providers, particularly HVAC,” Laufer told TechCrunch. “There were these gaps on the consumer side, satisfaction with the experience, it didn’t feel modern. The other big trend I saw was the silver tsunami. All these baby boomers who own these and don’t necessarily have an exit plan.”

The result was PipeDreams, a startup that acquires small and large HVAC and plumbing companies and scales them using its software that helps with planning and marketing. PipeDreams allows business owners to retire when necessary without losing their employees, name or brand, or simply become part of a larger company with more resources, Laufer told TechCrunch.

PipeDreams just raised a $25.5 million Series A led by Canvas Ventures and Plural with additional funding from DoorDash founder Tony Xu and former OpenTable CEO Thomas Layton. PipeDreams has acquired nine companies to date and currently operates in the San Francisco Bay Area, Tucson and Denver with plans to expand.

“The beauty of this industry is that it’s huge. There are over 100,000 plumbing and heating, ventilation and air conditioning companies,” Laufer said of the U.S. market. “We intend to keep their brand. A lot of these people have their name on the truck, it’s very personal.”

PipeDreams' strategy is a variation on the private equity roll-up model, in which PE firms buy smaller companies in a niche (private schools, dentistry, healthcare) and combine them into a larger company with the intent of becoming the larger Selling companies to make profits for investors.

PipeDreams also uses debt to fully acquire the companies, but is not tied to a tight lifecycle timetable to generate returns or exit, such as the four to six years expected with PE. The company has a $15 million credit facility that will be used to purchase businesses and will use the equity raised to improve its software. Laufer said he expects future rounds will need to raise more debt than equity.

Roll-up strategies are not common for venture capital-backed startups. The best comparison for this is Amazon aggregator startups like Perch and Thrasio, which have had financial problems recently. But unlike those aggregators, the underlying companies that PipeDreams buys are not at the mercy of a company like Amazon, which can change the rules at will, and the companies that PipeDreams buys have stronger relationships with its customers than Amazon brands.

However, PipeDreams could face the same growth hurdles that Amazon aggregators face, such as if a new entrant wins more business or if a local plumber improves its SEO or digital marketing strategy.

Laufer said taking over the HVAC companies completely sets PipeDreams apart from other competitors that only want to connect consumers with professionals like Angie and Thumbtack. He said that, like many of its competitors, the marketplace model is not rigid because consumers can search for professionals directly after finding them through a marketplace. Because PipeDreams integrates its technology into each provider's website, it is part of the process every time someone books with that professional.

PipeDreams also addresses the skills shortage in the HVAC and plumbing industries, as Generation Z is less interested in learning trades than the generations before them. The company launched an apprenticeship program in the fourth quarter to provide employees with on-the-job training. So far there have been five students with plans to expand.

While the company still has a long way to go to flesh out its HVAC-focused business, Laufer expects to expand into other categories in the future, including electricians.

“We bought [a company] When the owner had a celebratory dinner a few weeks ago, he described it as: “My company is going to college,” Laufer said. “'I grew it up and it's on its way to the next chapter.' I love this description. We do it like this.”

The post Former Nextdoor exec raises $25 million for PipeDreams, a startup rolling up HVAC corporations appeared first on Los Gatos News And Events.

Advanced Comfort Specialists celebrated the opening of its new office in Cumru Township by raising $2,000 for K9 for Cameryn, a fundraiser sponsored by the Shillington Fire Department to raise money for the purchase of a service dog for Cameryn Huber.

Cameryn, a 7-year-old boy, has Autism, ADHD, DMDD, and other disabilities that make daily life and routines for him and his family challenging.

The heating, air conditioning and commercial refrigeration business also raised $560 for Olivet Boys & Girls Club, a youth advocacy organization serving more than 3,000 children and families in Reading and Berks County.

Advanced Comfort Specialists co-owners Chad Milligan and Paul Catanzaro attribute their business success, as well as the success of their fundraisers, to effectively establishing a family-like culture and environment between employees, customers, and management.

“Advanced Comfort Specialists has spent the last 17 years serving Berks County and beyond in any way necessary,” said Catanzaro, vice president, in a statement. “The motto, ‘We Can’t Sleep at Night Until You Can,’ truly encompasses our efforts in helping in any way possible.”

To raise money effectively for both initiatives, Advanced Comfort Specialists enlisted the help of its technicians, customers and local community members.

Milligan, ACS’ president, said, “The dedication and selflessness of our technicians, customers, and our community that led to raising $2,560 is incredibly inspiring for our team. It also serves as a reminder to all of us that we hold incredible power when we come together as a community.”

ACS’ newest office, which features 6,000 square feet of space, is located at 217 Montrose Blvd. Purchased in mid-May, the majority of the construction took place over five months. Featuring a fully-stocked warehouse, loading dock, and metal shop, the company says it will be able to operate in a more efficient, cost-effective manner.

The post HVAC enterprise raises $2,560 to have a good time workplace opening  appeared first on Los Gatos News And Events.

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The post 13-Yr-Outdated Oakland Weightlifter Raises The Bar – CBS San Francisco appeared first on Los Gatos News And Events.

Life in Lagos, Nigeria’s trading city, is not for the faint of heart. The city with around 14 million inhabitants is the largest in sub-Saharan Africa.

And due to traffic jams and long hours, most busy professionals find it difficult to cope with everyday tasks like cooking or cleaning the house.

Although restaurants and household cleaning companies offer options for people who want to outsource these tasks, the market is still open to providers who can offer more convenience and quality.

Eden life, strategically Positioning itself as the premier platform for home service needs has raised a $ 1.4 million seed round to increase its market share.

LocalGlobe, a UK-based venture capital company, led the way. Africa-focused VCs Samurai Incubate, Future Africa, Village Global, Rising Tide Africa and Enza Capital took part.

In 2019 Nadayar Enegesi, Prosper Otemuyiwa and Silm Momoh founded Eden Life. The platform enables customers to schedule three housekeeping services – eating, laundry and cleaning – via a mobile application.

When the founders, Ex-Andelans (a term to describe former Andela employees), launched the home service app two years ago, it caused quite a few eyebrows. At that time, founders were increasingly launching projects in the fintech, e-commerce and logistics sectors, so it was surprising to see Enegesi and his co-founders move into an area that many believed was not profitable for a technology company in Nigeria.

“The reason was personal for us,” said Enegesi, CEO of the startup and co-founder of Unicorn Andela, in an interview. The founders started talking about the concept of home services simple when the now popular idea that Nigerians were en masse to leave in search of greener pastures took shape.

Enegesi could understand why people really wanted to move. Comparing his previous stay in Toronto with Lagos, the CEO found that his quality of life in a city that has been described in several reports as one of the worst places in the world has been massively affected.

While widespread stressors such as inadequate power supplies and poor roads are out of reach for citizens, the founders believed that the provision of domestic services such as food delivery and laundry was within reach and would improve the quality of life for some urban workers.

After Eden Life. raised a $ 600,000 pre-seed round for family and friends, started to aim Millennials and Gen Zs that hectic lives, especially in the tech field who work as executives, developers and freelancers.

Credit: Eden life

Customers can subscribe to one or three of the services, and according to the company, people try their food services before the others and it’s not hard to see why.

Initially, Eden employed a simple distribution model of delivering groceries selected by customers from a variety of third-party suppliers. But the process soon became a challenge for the company of a Quality point of view.

“You are simple so many questions about standards. We have learned that many of these small service companies do not have the tools or equipment to deliver at a high level, ”said Enegesi. “We learned that many of them have no training for their employees. We have learned that they do not have the right business processes in order to be able to output the same quality every time. “

At the end of last year, the company realized it had to invest in setting and building these standards if it was to deliver the best customer experience.. What followed was a vertical integration with the grocery department when Eden launched its kitchen and is now producing its meals. significant Enhancing the dining experience for customers.

Access to laundry and house cleaning services is available easy however different. For the former, Eden works with established laundromats in various locations in Lagos and has a network of freelancers that it trains quarterly to do the cleaning. Then logistics company Gokada handles about 75% of the company’s food and laundry deliveries.

What is the traction like for the company? For my part, I am an avid user of Eden’s food service and more than 600 people use one to three of the services. The average customer uses two services five times a week.

Across the board, customers pay an average subscription of $ 100 per month – a fee that can and can cover a daily meal plan or weekly cleaning biweekly Laundry schedule. These plans are monitored by trained professionals called gardeners who are in constant communication with Eden users to provide prompts and receive feedback.

A quick calculation of the customer base and average subscription shows that Eden has about $ 60,000 in monthly revenue. However, the CEO declined to comment on any particular number, just saying that the company had more sales than the proposed number.

According to LocalGlobe General Partner Remus Brett, Eden’s customer obsession and attention to detail stood out along with a key first mover advantage for the main investor.

He said his company “fell in love with Eden Life’s vision for the future of home services in Africa” ​​and that “combining that advantage with a core team with a proven track record of building African technology to an unrivaled level makes Eden Life an exciting one.” Brings away “. of growth. ”

Credit: Eden life

Since its inception, Eden Life has provided over 60,000 services in Lagos alone. The company has yet to penetrate other markets in Nigeria and will not use these funds to do so. Instead, Eden plans to build its in-house technology, scale its team, and use food production facilities and operational centers for sales (which provides an opportunity to explore the dark kitchen model)..

“Lagos is a tough market and we have to make sure everything works,” said Enegesi. “We had to keep working on the fine-tuning and are currently concentrating on making things run very smoothly here. After that we will have talks about where to expand next. “

Africa is the fastest urbanizing continent in the world with a growing middle class. And although Eden Life does not plan to penetrate other markets, some regional players such as the home cleaning service SweepSouth are currently moving into the West African country.

But Enegesi is not worried; the models are very different. Eden operates horizontally combining grocery, laundry and house cleaning services, while SweepSouth takes a more vertical approach to house cleaning.

From a lean model perspective, it seems a better model to run a single service and add more as you scale than to run three services simultaneously. Nevertheless, the expansive model has worked perfectly for Eden so far.

“Our strength is operational complexity because solving any of these things is not going to give our customers the experience we want,” said the CEO. “It is important that we create a complete living experience for people, and does that mean it can take longer than other things? Sure, but it also means that people will have a hard time going up against us. As I said, it’s personal and there has to be something like that. and Happily, We are the ones who can do it. “

Although Eden has a vertical integration strategy to own and manage its entire supply chain and deliver its services without the need for third party vendors, it will also bring more horizontal products to market in the coming months.

The post Eden Life raises $1.4M seed to supply residence companies to busy Africans – TechCrunch appeared first on Los Gatos News And Events.

Asbarez – The San Francisco Bay Area Artsakh Task Force Humanitarian Aid Committee donated $ 100,000 to the Insurance Foundation for Soldiers in Armenia at KZV Armenian School in San Francisco on Nov. 12.

Earlier this year, the SFBAATF-HAC hosted a virtual fundraiser that raised $ 100,000 for wounded Artsakh soldiers and families of fallen soldiers.

The very first virtual gala and auction “For our soldiers” attracted over a few hundred visitors. The participants enjoyed touching musical performances, heard encouraging messages from Bishops Hovnan Derderian and Torkom Donoyan and saw moving personal messages from soldiers from Artsakh.

The donations went through the charitable foundation Friends of the Armenian Soldier and Family (FASF) and then to the Insurance Foundation for Soldiers in Armenia (IFS). IFS is a non-governmental organization that provides financial compensation to the families of deceased and wounded soldiers in Armenia and Artsakh.

The San Francisco Bay Area Artsakh Task Force (SFBAATF) was established in October 2020 in response to the 2020 war in Artsakh with a particular focus on assisting Artsakh by coordinating regional efforts. Further information can be found on the Internet.

The post San Francisco Bay Space Artsakh Process Drive raises $100,000 – Public Radio of Armenia appeared first on Los Gatos News And Events.

SAN FRANCISCO – On Friday November 12th, the San Francisco Bay Area Artsakh Task Force Humanitarian Aid Committee (SFBAATF-HAC) donated $ 100,000 to the Insurance Foundation for Soldiers in Armenia (IFS) at the Krouzian-Zekarian-Vasbouragan Armenian School in San Francisco, CA.

Earlier this year, the SFBAATF-HAC hosted a virtual fundraiser that raised $ 100,000 for wounded Artsakh soldiers and families of fallen soldiers.

The very first virtual gala and auction “For our soldiers” attracted over a few hundred visitors. Participants enjoyed touching musical performances, heard encouraging messages from Archbishop Hovnan Derderian and Bishop Torkom Donoyan, and saw moving personal messages from soldiers of Artsakh.

The donations went through the charitable foundation Friends of the Armenian Soldier and Family (FASF) and then to the Insurance Foundation for Soldiers in Armenia (IFS). IFS is a non-governmental organization that provides financial compensation to the families of deceased and wounded soldiers in Armenia and Artsakh.

The San Francisco Bay Area Artsakh Task Force (SFBAATF) was established in October 2020 in response to the 2020 war in Artsakh with a particular focus on assisting Artsakh by coordinating regional efforts. More information is available at www.facebook.com/BayAreaArtsakhTaskForce.

The post San Francisco Bay Space Artsakh Activity Pressure Raises $100,000 for Insurance coverage Basis for Servicemen appeared first on Los Gatos News And Events.

NEW YORK–(BUSINESS WIRE) – Humming Homes, a technology-enabled property management solution for single-family homes in suburban markets, announced today that a Greycroft-led $ 5.6 million seed increase involving AlleyCorp, Thrive Capital, Sound Ventures, New Valley Ventures, and prominent angel investor Abby Miller Levy.

Founded by Adeel Mallick, CEO, Kyle Carnes, Head of Operations, and serial tech entrepreneur Kevin Ryan, Chairman of the Board, Humming Homes is committed to making home ownership easier and more enjoyable. With the aim of becoming the most trusted home services partner in the country, it has developed an end-to-end management solution based on software for single family home owners. With a digital-first experience, dedicated personal home management teams with a single point of contact, live support around the clock, and data and insights to avoid reactive and expensive home maintenance problems, the system is designed to revise its importance as owning a home own and maintain.

The financing will fuel Humming Homes’ continued growth as the company seeks to expand beyond its original Northeast markets and provide a modern alternative to the established home service providers.

“Seasoned homeowners know that managing a home is like having a second job. Homes require constant maintenance, from landscaping to seasonal cleaning of HVAC, chimneys, windows, and siding. Homeowners have a long list of contractors and suppliers, and you never know if prices are fair, ”said Ian Sigalow, co-founder and partner at Greycroft, who will join the board. “Humming Homes solves the problem of how difficult it is for most people to manage their most valuable asset – their home.”

According to The National Association of Realtors, 40% of all single-family home purchases between 2020 and 2021 were made by those under the age of 40 and more space shows no signs of quitting.

“We have the youngest consumer, the most tech-savvy and, from a generation perspective, the least equipped to manage a home in terms of time and experience available. Today’s first-time homeowners have limited resources to help them transition from renting to home, ”said Adeel Mallick, CEO of Humming Homes. “More importantly, 68% of all US households now have a double income, which means that the burden of managing all aspects of home maintenance and improvement is very likely unevenly distributed among already strained homeowners.”

Although the home services market accounts for over $ 500 billion in consumer spending, according to a recent study by Angi, there has not yet been a category winner. Humming Homes is focused on providing a homeowner-first solution with an initial target customer base of the “mass affluent” – single-family homes valued at more than $ 750,000 and in dense, sought-after home markets such as The Hamptons, Greenwich, Westchester, Miami, Fort Lauderdale , Greater Los Angeles, Scottsdale, and Texas (Austin, Houston, etc.).

“This is a huge opportunity – the average homeowner in the US spends 1% to 2% of their home value annually on maintenance and improvement,” continued Mr. Mallick. “Our target audience, which is only 10% of all households in the US, spends nearly 50% of the total household services market. Homes are inherently complex and the next generation of homeowners will need more than just a patch or a set of inherited vendors to help – and this is where we want to turn the status quo on its head. ”Humming Homes has been around since the services were launched Grown rapidly in October 2020. It now operates in markets across the tri-state area including The Hamptons, NY, Westchester, NY, and Greenwich, CT, and manages $ 500 million of home worth.

They also recently entered into a strategic partnership with Douglas Elliman (“DE”) for additional access to sales during the property purchase process, facilitated by an investment from their venture arm New Valley Ventures. Humming Homes will partner with DE to launch in additional tri-state markets in the coming months as well as the South Florida area including Miami, Palm Beach and Fort Lauderdale later in 2021.

Humming Homes was founded in early 2020 and incubated with AlleyCorp, a venture capital firm and studio led by Kevin Ryan (previously raised $ 2.5 million). The latest funding brings the total capital to $ 8.1 million. The company’s founding team has a background in real estate, on-demand marketplaces and technology-enabled services.

About Humming Homes

Humming Homes reinvents property management for the modern homeowner. On the way to becoming one of the most trusted home operators in the world, the company is creating a new category of end-to-end property management that uses data and insights to avoid reactive and costly home maintenance problems. It has developed a technology-enabled solution for single family home owners with a digital experience that offers a dedicated personal property management team with a single point of contact for 24/7 support. For more information about Humming Homes, please visit www.humminghomes.com.

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