Curbio Raises $7 Million To Accelerate National Expansion of Tech-Enabled Renovation Solution That Helps Home Sellers Renovate Quickly, Sell for More and Pay at Closing
Curbio announced today that it has secured $7 million in Series A funding. The funding round was Co-led by Camber Creek and Brick & Mortar. Founded in late 2017 by Matt Siegal and Rick Rudman, the company has raised $13.6 million in total financing and will use this latest round of financing to build out its proprietary technology and expand to new cities.
“Curbio is completely re-inventing the way Realtors® and their clients approach pre-sale renovation,” said Rick Rudman, President and CEO of Curbio. “We’re very excited to welcome Camber Creek and Brick & Mortar as our investment partners. Both firms have deep roots and expertise in real estate and construction tech, making them the perfect partners to support our vision.”
Curbio uses an array of proprietary technology to accelerate proposal and project completion time by up to 60%. The Curbio platform also brings a modern customer experience to a notoriously outdated industry by providing real-time project communication and updates via comments, pictures and video. Curbio complements these high-tech benefits with a design-build process, which includes complete project management, pre-selection of materials and renovation choices geared towards making home sellers a profit. The solution is packaged up in an innovative and consumer friendly “pay at closing” business model which ensures the entire process is quick, easy and painless for both the Realtor® and home seller.
“Curbio is transforming the home renovation, general contracting and home flipping markets by offering homeowners a novel way to capture the full potential value of their homes,” said Casey Berman, Managing Partner at Camber Creek. “We are thrilled to be working with Curbio as they expand across the U.S.”
The funding round will be used to accelerate technology development and city expansion. Curbio’s focus on maximizing listing prices and shortening days on market is a major benefit for agents and sellers. For homeowners, Curbio is essentially helping them “flip their own home” and keep the profit for themselves. For Realtors®, Curbio is a trusted renovation partner that lets them put away their project manager hat and spend more time on real estate transactions. Curbio is experiencing tremendous growth with number of projects up 650% in Q2 2019 versus last year. Curbio currently serves the District of Columbia and surrounding suburbs of Maryland and Virginia, Greater Baltimore, Atlanta, Dallas, Houston, Phoenix, Orlando and the Greater Philadelphia and South Jersey metropolitan region. Curbio plans to complete over 1,000 renovation projects in 2020 while doubling city expansion in 2020 and 2021.
About Curbio Inc.
Curbio Inc. is a venture funded home renovation technology company that specializes exclusively in helping Realtors and their clients prepare their homes for sale in order to reduce days on market and increase seller proceeds. From its base in Potomac, Maryland, Curbio operates in the metro areas of Washington DC, Baltimore, Philadelphia, Atlanta, Orlando, Dallas, Houston, and Phoenix. Operations will begin in Chicago, Tampa, and Miami before the end of 2019.
About Camber Creek
Camber Creek was founded in 2011. The firm focuses on technology start-ups working in and around real estate and the built environment, an arena to which the firm bring decades of experience and a powerful network of limited partners and advisors. The firm has invested in 22 companies which have collectively achieved 21 merited up-rounds and eight realized exits.
Camber Creek prides itself on being a strong partner to its portfolio companies. Camber Creek forges enduring relationships with promising entrepreneurs by making deep investments of time, energy, expertise, and funding – often well before an investment is made. The firm invests where it can bring value above and beyond simple capital through the power of the Camber Creek LP network.