Higharc, a Durham, NC-based provider of a cloud platform for homebuilding operations, raised $53M in Series B funding.
The round was led by Spark Capital and Pillar VC, with participation from SE Ventures (Schneider Electric’s Venture Arm), Fifth Wall, Starwood Capital, Standard Investments, Home Depot, Ferguson, Simpson Strong-Tie, Mulhern+Kulp Engineering, Suffolk Technologies, RXR Realty, PSP Growth, Metaprop, SC Masterfund, Carl Bass — the former Autodesk CEO — along with leaders from Mighty Buildings, Welcome Homes, CBRE, and Ware Malcomb, as well as previous investors Javelin Venture Partners, Lux Capital, and Vertex Ventures.
The company intends to use the funds to expand its automated materials estimating and generative AI-based workflows.
Led by CEO Marc Minor, Higharc provides The Homebuilding Cloud, a connected platform that helps homebuilders design, sell, and build new homes and communities. Its customers build over 40,000 homes annually representing $19 Billion in new home sales volume.
The company has over 70 full-time employees.
Commenting on the news, Marc Minor said: “This additional capital reinforces Higharc’s long-term commitment to the success of our customers and to unlocking digital transformation for the entire homebuilding industry.“
FinSMEs
15/02/2024