Freemodel, a Burlingame, CA-based tech-enabled home renovation company, raised $19.5M in Series A funding.
The round was led by QED Investors, with participation from LL Funds, RWT Horizons, FJ Labs, 1984 Ventures, 1Sharpe Ventures, and Crossbeam Venture Partners. With this latest investment, Freemodel has now raised over $23M since launching in 2020.
Led by CEO John Garner, Freemodel partners with real estate agents to design, manage and pre-pay for their clients’ home renovations. Then, the homeowner pays Freemodel out of escrow once the home sells. Their Project Directors bring expertise and local knowledge of the regions they service, making the process easier for realtors and sellers. In addition, the company requires no credit checks and has no pre-determined project budget caps, allowing more flexibility for homeowners to reap the maximum possible profit from their investment.
The company, which already covers 90% of the California real estate market, will use the newly secured investment to expand its service to additional states, starting with Texas and Florida in Q1 2023, and to continue developing the proprietary technology platform that empowers their team of local Project Directors to manage home renovations more effectively and efficiently
Freemodel works with over 60 leading real estate brokerages.
FinSMEs
01/02/2023