Higharc Secures $53M in Series B to Revolutionize Homebuilding with Cloud Technology
Higharc, a Durham, NC-based cloud-based solution for the home building industry, has successfully closed a $53 million Series B investment round. The financial infusion, supported by more than 18 investors from various sectors including construction, building products manufacturing, and distribution, marks a pivotal advancement for Higharc as it seeks to redefine homebuilding operations with its connected cloud platform.
The Series B funding, co-led by Spark Capital and Pillar VC, also attracted investments from a diverse group of investors. Among them are SE Ventures (Schneider Electric’s venture arm), Fifth Wall, Starwood Capital, Standard Investments, and Home Depot. Other notable investors include Ferguson, Simpson Strong-Tie, Mulhern+Kulp Engineering, Suffolk Technologies, RXR Realty, PSP Growth, Metaprop, SC Masterfund, and Carl Bass, former CEO of Autodesk. Additionally, industry leaders from Mighty Buildings, Welcome Homes, CBRE, and Ware Malcomb have contributed to this round.
This latest round of funding is a testament to Higharc's rapid growth and the increasing demand for its services in the $350 billion US homebuilding market. Higharc's innovative platform, The Homebuilding Cloud, is the first of its kind to offer a connected ecosystem that streamlines the design, sale, and construction of new homes and communities. Currently, Higharc's solutions are used to build over 40,000 homes annually, representing $19 billion in new home sales volume.
The capital raised in this Series B round will be directed towards fueling Higharc’s continued growth, with a specific focus on enhancing its automated materials estimating features and integrating generative AI-based workflows. These advancements aim to further simplify and optimize homebuilding operations, delivering unprecedented efficiency and accuracy.
In a prepared statement, Marc Minor, CEO of Higharc, emphasized the company's mission to modernize the tools available to homebuilding professionals. "Higharc exists to serve the hardworking teams who build homes across America—they’ve been stuck using 40-year-old software that wasn’t designed with their needs in mind, and they deserve better," Minor stated. "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."
Founded in 2018, Higharc has distinguished itself as a leader in digital transformation within the homebuilding sector. Operating a remote-first workplace, the company employs over 70 full-time staff dedicated to developing and enhancing The Homebuilding Cloud. With this recent Series B funding, Higharc is poised to further its impact on the industry, offering homebuilders across the US the tools and technologies needed to navigate the complexities of modern home construction more effectively.
