Porch.com, a Seattle, WA-based home network for homeowners and home professionals, raised over $65m in funding.
Backers included Valor Equity Partners, Lowe’s Companies Inc, Founders Fund, Battery Ventures, Panorama Point Partners, Capricorn Investment Group and home improvement expert Ty Pennington. In conjunction with the funding, Antonio Gracias, CEO of Valor Equity Partners, joined Porch’s board of directors.
The company, which has raised $100m in total funding, will use the funds to continue to develop products for the home improvement, home maintenance, and home buying industry in addition to scaling its operations infrastructure.
Led by Matt Ehrlichman, Chief Executive Officer and Chairman, Porch is a home network that enables homeowners to make smart home improvement decisions by giving them the information they need to find the right professionals, get inspiration, and manage their home. The app, available for iOS, gives homeowners direct access to a personal Porch Concierge to find professionals.
The company, which partners with Lowe’s and realtor.com, will begin rolling out nationally the ability for homeowners to book the best professionals at pre-negotiated prices through Porch Booking, a feature of the Porch App. With this offering, Porch will provide a marketplace where it processes the transaction and guarantees the services behind professionals vetted in each city.