Revolution Growth Invests in Curbio, the Leading Proptech Platform for Pre-Sale Home Renovation
The Maryland-Based Startup Offers a Fix Now, Pay-at-Closing Solution for Optimal Sale Outcomes
Say hello to Curbio — the proptech company seizing an untapped opportunity within the $85B pre-sale home improvement market and the latest addition to the Revolution Growth portfolio.
What They’re Solving For: Today’s consumers want a move-in-ready home. However, current inventory is in short supply due to an aging housing market and slow renovation timelines. The recent millennial house-buying boom and supply chain setbacks have exacerbated these issues.
What They Do: Curbio is a software-powered platform for home renovation that delivers value for sellers and their agents via a “fix now, pay later” offering. Founded in 2017 and headquartered in Potomac, MD, the company set out to transform the process of getting homes move-in-ready with a streamlined approach to better automate home improvement. Curbio handles all project management, taking care of every item on the punch list and granting real estate agents and homeowners their preferred level of visibility and involvement. The company serves as the licensed, insured general contractor on all projects.
How They Do It: Following a virtual walk through, Curbio creates a detailed, fixed-price proposal in just a few days. From there, Curbio’s invitation-only online job platform for the country’s five-star contractors and subcontractors allows Curbio to digitally execute the project from start to finish.
The Results To-Date: Curbio’s projects average 50% faster timelines, 30% fewer days on the market, and a 20% increase in home sale prices for customers. Accessible and automated home improvement enables every real estate agent and contractor to grow their business — and every seller to unlock the value in their home.
Where They’re Headed: Curbio’s $65 million Series B will accelerate the company’s growth and its support of real estate agents across the country. A primary focus will be on tech advancements, market development, and job platform growth. That includes launching in five new markets in the next year and supporting white-label offerings for a number of nationwide brokerage groups who have selected Curbio as their exclusive partner.
Get to Know Curbio’s President & CEO, Rick Rudman:
What inspired you to found Curbio? Today, most homebuyers are looking for move-in-ready properties, yet 85% of homes are more than 20 years old. Almost every home requires updates before it’s listed. However, home improvement is an outdated, slow, and risky industry. That’s why we founded Curbio — to create a tech solution that makes home improvement simple, reliable, and fast for realtors and home sellers.
The housing market has shifted dramatically in the past two years. How do you think today’s landscape will affect home buying and selling innovations in the next decade? Equipping homeowners with the tools to renovate their homes before putting them on the market is here to stay. The ability to make updates and defer costs until closing is a rapidly expanding industry, and one that’s fueling Curbio’s growth. In the not-so-distant future, we foresee pay-at-closing home improvement as a prerequisite for real estate agents who want to remain competitive.
What do you look for in an investment partner? At this stage, we were looking to bring on a blue-chip investor with proptech expertise and a national reputation. We also wanted a partner that wasn’t far from our backyard, and Revolution Growth checked all those boxes.
For more on Curbio (and some impressive before and afters), visit curbio.com.
