Curbio, the pay-at-closing home improvement company for real estate agents, announced $25M in financing to support rapidly growing demand for its services nationwide. Curbio is the first company to provide home improvement services created specifically to help real estate agents fix up client homes before they go on the market, without any payment until the home is sold. Curbio will use the funds for market expansion, technology development and growth of their invitation-only job platform for the country’s best contractors.
Investors include proven leaders in proptech. The round was led by new investor, Comcast Ventures, with participation from existing investors, Camber Creek, Brick & Mortar Ventures, Second Century Ventures (the strategic investment arm of the National Association of Realtors), Curbio board member and former ADT CEO Tim Whall, and Curbio CEO Rick Rudman. SCV, In addition to an equity investment, is also providing venture debt in this funding round. Curbio is a graduate of the NAR REACH growth program which leverages the association’s more than 1.4 million members to help refine and scale promising solutions for REALTORS.
“I feel very fortunate to have the backing of such a talented group of visionaries in the rapidly growing proptech space,” said Rick Rudman, CEO of Curbio. “Their collective experience will be invaluable to Curbio as we transform a $100 billion industry, which has not seen much innovation over the last few decades.”
Unlike other options that match customers with third-party contractors, Curbio is the licensed general contractor on every project and handles everything including the initial proposal, project administration and on-site project management. Curbio’s platform and app makes it easy to monitor project schedules, visual updates and all project communication from any location. This keeps projects running smoothly and eliminates the frustration of visiting project sites, tracking down updates and playing phone tag with contractors.
Curbio projects averaging a 25% increase in selling prices, 60% reduction in project time and 50% reduction in days on market. No payment is due until the home is sold, and there’s no time limit, no interest and no hidden fees. It offers a no-loss guarantee, assuring risk-averse home sellers that they won’t lose money on pre-listing project work.
“Curbio is a classic example of what we look for when investing—a seasoned leadership team, innovative technology and a large market that is ripe for disruption,” said Sheena Jindal, principal at Comcast Ventures. “Curbio addresses the mismatch in the U.S. housing market — 85% of homes are over 15 years old and more than half of new buyers are millennials who don’t want dated homes. Curbio ensures sellers get the most value out of their home quickly and reliably while giving buyers a move-in ready home with renovation wrapped into the price of the mortgage. We’re looking forward to helping Curbio become a household name in PropTech.”
