Tech-Enabled Home Renovation Company Curbio Inc. Announces $4M Series Seed Round to Fuel Hypergrowth in Real Estate Tech Space
Funding will support technology development and national market expansion
POTOMAC, Md., Nov. 12, 2018 /PRNewswire/ -- Curbio Inc., an emerging leader in pre-sale home renovation, announced the closing of a $4 million Series Seed funding round. The investment will be used to continue development of Curbio's tech-enabled home renovation platform and to support expansion into new markets including Atlanta, Dallas, Houston, and Phoenix in 2019 Q1. The Maryland-based company currently operates in the metro and suburban areas of Washington DC, Baltimore, and Philadelphia/South Jersey.
The funding round was led by the Maryland Venture Fund with participation by Curbio CEO Rick Rudman and other individual investors from the local area. Andy Jones from the Maryland Venture Fund has also joined the Curbio Board of Directors.
"We are excited to partner with Curbio to support their innovative approach to disrupting a very large yet outdated home renovation industry," said Andy Jones, Managing Director of Maryland Venture Fund. "In addition, I've followed CEO Rick Rudman since he built Vocus into one of Maryland's most successful tech companies and I'm thrilled to be able to work with him on this new and exciting venture."
Curbio Inc. was co-founded by its president and CEO, Rick Rudman, and Chief Strategy Officer, Matt Siegal, who co-founded a software company in the early nineties that Rudman would eventually turn into Vocus Inc., a NASDAQ-traded company with 1,500 employees worldwide and which Rudman sold for $446M in 2014. The two teamed up again in 2017 when Siegal successfully courted Rudman to serve as CEO and Chairman of the Board of Curbio.
Curbio is a unique tech-enabled home renovation company that helps real estate listing agents and their clients renovate their homes before listing them for sale, a service that reduces days on market and increases seller net proceeds.
"The goals of homeowners who are preparing to sell are very different from those who are planning to live in the home after renovating," said Rick Rudman, president and CEO. "Curbio focuses exclusively on pre-sale renovation, making us experts at selecting products and materials that create maximum curb appeal and return on investment, and minimum days on market," Rudman added. "Our mission is to be the hassle-free, go-to solution for any realtor who has a listing that could benefit from renovations before going on the market."
A one-of-a-kind feature of Curbio is its "renovate now, pay when you sell" model which defers payment until settlement with no time limit to sell the house and pay for the work.
"The deferred payment model, together with our proven ability to increase seller proceeds and shorten days on market, has made Curbio a trusted partner for listing agents."
In the past year, Curbio has renovated homes for clients of major real estate brokerages including Berkshire Hathaway, Century 21, Coldwell Banker, Keller Williams, Long & Foster, Pearson Smith, RE/MAX, and Weichert.
The company has established itself as a thought leader in the emerging real estate technology space by pioneering the use of mobile devices, software and 3D video virtual walkthroughs. This technology helps Curbio compress the time between estimate and project completion from months to weeks, while also eliminating hours of time for home sellers and their agents.
More information is available on the company's website, www.curbio.com or call 844-944-2629.
SOURCE Curbio Inc.
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