Hometree, a London, UK-based online-led boiler installation service, secured $8.5m in financing.
The round was led by AV8 Ventures with participation from existing investors Paul Pindar through Literacy Capital, Jon Moulton, DN Capital, LocalGlobe, Ian Nolan, and Mark Hutchinson (former CEO of GE Europe), among others.
The company intends to use the funds to expand nationally over the next 18 months and move beyond boiler installations into offering a broader home services proposition, with smart home and insurance key areas the business is exploring.
Launched in 2016 by Simon Phelan and Andreu Tobella, Hometree is an online-led boiler installation service. It enables customers to buy a boiler online without speaking to an agent and has recruited an executive team with CFO (David Lee), CMO (Paul Lewis), Brand Adviser (James Kydd) & Industry Adviser (Rob Gladwin) all joining the business.