HOVER, a 3D technology/e-commerce startup that counts insurers among its customers, has raised a $25 million Series C financing round.
The San Francisco-based company said its technology platform enables e-commerce for large home improvement projects, where homeowners and contractors can receive exact measurements, design their home with different products and colors, and purchase materials directly through the app. It claims to have “hundreds of thousands of users representing tens of thousands of home improvement companies.”
As well, HOVER claims it is partnered with five of the top 10 U.S. property/casualty insurance carriers who use the platform to reduce claim adjusting costs, decrease cycle times and improve the overall customer experience. HOVER did not disclose the company names.
Menlo Ventures led the San Francisco company’s financing, though previous investors including Standard Industries and GV (formerly Google Ventures) also participated. Including the new financing, HOVER has raised $87 million to date.
HOVER said its computer vision and deep learning technology “turns smartphone photos into an accurate, interactive 3D property model that facilitates commerce at the kitchen table.” As part of this process, the company said it has partners on its technology platform including The Home Depot, roof manufacturer GAF and Beacon, a building materials distributor. Homeowners can then browse materials directly from manufacturers, allowing them to access brands typically known to contractors, the company described.