Curbio Raises $65M to Broaden Nationwide Repair First, Pay-at-Closing House Enchancment Answer for Brokerages and Realtors

Revolution Progress Leads Oversubscribed Spherical of Each New and Current Traders

POTOMAC, Md., Jan. 18, 2022 /PRNewswire/ — Curbio, Inc., the main pay-at-closing dwelling enchancment resolution for actual property brokers, brokerages and residential sellers, at the moment introduced a $65M Collection B funding spherical to assist continued progress within the untapped marketplace for repair first, pay-at-closing dwelling enchancment. Curbio has now raised a complete of $93M since its founding in late 2017. Curbio is the primary tech-enabled dwelling enchancment resolution designed particularly to get properties available on the market quick and offered for high greenback with no fee due till the house sells.

A shiny, trendy kitchen renovated by Curbio.

Led by Revolution Progress, a D.C.-based enterprise capital fund, the funding will likely be used to develop into extra markets and additional develop Curbio’s proprietary know-how, together with the expansion of their invitation-only job platform for the nation’s five-star contractors. Different contributors within the spherical embody current buyers Camber Creek, Comcast Ventures, Brick & Mortar Ventures and Second Century Ventures, the funding arm of the Nationwide Affiliation of Realtors® in addition to new buyers Kayne Companions, the expansion personal fairness group of Kayne Anderson Capital Advisors and Masco Ventures.

“Curbio is taking an outdated, damaged course of and dramatically enhancing it to profit realtors, dwelling sellers, and subcontractors. We’re thrilled to have Revolution Progress lead a tremendous group of buyers with experience in PropTech, marketplaces, and scaling disruptive startups. They are going to be invaluable to Curbio as we shake-up an $85 billion {industry} which has not seen any actual innovation in many years,” mentioned Rick Rudman, CEO of Curbio.

Curbio is utilizing proprietary know-how to dramatically enhance the client expertise in dwelling enchancment. Curbio’s platform and app makes it simple to get proposals, line up labor and supplies, observe challenge schedules, get visible updates, and talk in real-time from any location on any machine. Regardless of present labor and provide shortages, the corporate’s progress and skill to ship has not slowed down. Curbio’s initiatives common a 20% improve in promoting costs, 50% discount in challenge time, and 50% discount in days on market.

Promoting a house is likely one of the most complex lifetime monetary transactions, and transforming to enchantment to trendy dwelling consumers provides a layer of logistical complexities, guesswork, and stress. Curbio unlocks the power for any agent or brokerage to supply repair now, pay later providers – a turnkey expertise with no challenge minimums or credit score checks. Because the preeminent one-stop resolution for pay-at-closing residential dwelling enchancment, Curbio is seizing on an unlimited, beforehand untapped alternative.

“The house renovation market is very large and a big portion of that spend occurs in Curbio’s wheelhouse with pre-sale upgrades,” mentioned Patrick Conroy, a Companion at Revolution Progress who’s becoming a member of the board of the corporate. “Curbio’s technology-enabled resolution addresses a significant mismatch within the U.S. housing market—greater than 80% of properties are over 15 years previous and greater than half of recent consumers are millennials searching for trendy layouts and finishes of their new properties. Curbio bridges this hole for dwelling consumers and ensures that sellers get probably the most worth out of their dwelling shortly and reliably. We’re trying ahead to serving to Curbio turn into a family identify in PropTech.”

About Curbio

Curbio is the nation’s main pay-at-closing dwelling enchancment resolution for actual property brokers and their shoppers. Based in 2017, the corporate has got down to rework the method of getting properties move-in prepared with its streamlined method to dwelling enchancment. Powered by know-how, Curbio has created a one-stop resolution for pre-listing dwelling enhancements, dealing with all the course of from begin to end. Curbio is a totally turnkey resolution, caring for all sourcing, challenge administration and communication, and performing because the licensed, insured common contractor on all initiatives. Curbio makes dwelling enchancment accessible and stress-free so that each actual property agent and contractor can develop their enterprise, and each vendor can unlock the worth of their dwelling. From easy repairs to entire dwelling makeovers, Curbio will get each itemizing available on the market quicker and offered for high greenback.

About Revolution Progress
Revolution Progress is a enterprise capital fund investing in progress stage firms across the nation which can be main disruption inside their {industry}. Led by Steve Case, Ted Leonsis, and Steve Murray, Revolution Progress has a confirmed technique of partnering with entrepreneurs to construct and scale category-defining firms. Revolution Progress is headquartered in Washington, D.C. and a part of Revolution’s household of funds, together with Revolution Ventures and the Rise of the Relaxation Seed Funds. Go to us on-line at revolution.com/progress or @Revolution.

About Camber Creek
Based in 2011, Camber Creek (www.cambercreek.com) is an institutional enterprise capital agency investing in and scaling firms which can be remodeling the actual property {industry}. Over the previous 11 years, the agency established itself because the premier actual property know-how enterprise agency by persistently delivering industry-leading returns to buyers, driving worth for its portfolio of start-ups, and producing profitable firm exits. At this time, Camber Creek has greater than $500 million in property below administration with workplaces in New York, San Francisco, and Washington, D.C.

About Kayne Companions
Kayne Companions, the Los Angeles-based devoted progress personal fairness group of Kayne Anderson Capital Advisors, L.P., leverages its giant agency sources to accomplice and put money into decrease center market, privately held, excessive progress, enterprise software program and tech-enabled service companies throughout North America. The group has developed a sturdy and repeatable funding technique and course of for making use of its stage experience by sourcing and investing in firms at an early inflection level, including worth and scaling by natural progress and M&A, and exiting these must-have property to strategics & monetary sponsors. The group has expertise investing throughout media & telecommunications, provide chain & logistics, monetary know-how, healthcare IT, safety & compliance, and enterprise course of outsourcing and automation. For extra data, please go to www.kaynepartners.com

About Comcast Ventures
Comcast Ventures is the enterprise capital arm of Comcast Company, with a 20+ 12 months historical past of partnering with entrepreneurs to speed up progress for his or her companies. We assist founders in creating important companies by offering capital in addition to by leveraging the distinctive sources of Comcast’s working companies. Comcast Ventures invests in early to progress stage firms throughout a choose set of themes. For extra particulars, go to https://comcastventures.com.

About Brick & Mortar Ventures
Brick & Mortar Ventures is an early-stage enterprise fund targeted on the Constructed World. Based by Darren Bechtel, the agency invests in rising firms creating modern software program and {hardware} options for the industries of structure, engineering, development, and amenities administration.

About Masco Ventures
Masco Ventures is a $50 million enterprise capital initiative of Masco Company (NYSE:MAS, www.masco.com), a Fortune 500 firm targeted on the design, manufacture and distribution of branded dwelling enchancment and constructing merchandise. Masco’s portfolio of industry-leading manufacturers contains Behr® and Kilz® paint and primers; Delta® and Hansgrohe® taps, tub and bathe fixtures; and Scorching Spring® spas. Masco Ventures is targeted on partnering with startups that may advance Masco’s dedication to innovation. The fund targets investments in services that increase water administration, create a linked in-home expertise, improve Masco’s customer support, and supply alternative ways for Masco to achieve new and current clients.

About Second Century Ventures
Second Century Ventures (SCV) is probably the most energetic international actual property know-how fund and serves because the strategic funding arm of the Nationwide Affiliation of REALTORS®. SCV helps scale its portfolio firms internationally’s largest industries together with actual property, monetary providers, banking, dwelling providers, and insurance coverage. SCV operates the award-winning international REACH know-how scale-up program.

Curbio is the hassle-free home renovation company that realtors trust to ensure faster home sales and greater net proceeds for sellers. Only Curbio defers payment until settlement. (PRNewsfoto/Curbio Inc.)

Curbio is the hassle-free dwelling renovation firm that realtors belief to make sure quicker dwelling gross sales and larger web proceeds for sellers. Solely Curbio defers fee till settlement. (PRNewsfoto/Curbio Inc.)

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SOURCE Curbio

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