San Francisco app developer Hover announce they have now successfully raised US$87 million to turn photos of houses into 3D models.
The capital raised will go towards growing the company’s team and continue to develop the cloud-based platform, which takes smartphone photos of houses and creates a fully measured, customisable 3D model that clients can use to make estimations of maintenance projects and visualise what the results will look like.
According to VentureBeat, Hover CEO and co-founder A.J. Altman said the platform allows homeowners and contractors to extract measurements in PDF or Excel format, or to visualise different products, colours and materials on models they’ve captured so far.
The platform also boasts being able to provide a roof square estimate within 30 minutes of photos’ capture.
“Hover gives homeowners the information needed to maximise the value of their largest economic asset. In a world where you can buy and sell your home online, you should also have the ability to plan and complete renovation projects from the palm of your hand,” Altman told VentureBeat.
“With Hover, we are transforming home ownership by dramatically improving a notoriously frustrating process. Contractors can give a quote to the homeowner during their first visit … This inevitably increases their chance of closing the deal on the spot.”
The company also claims the platform is being used by insurance companies in the US to reduce claim adjusting costs.
“Hover has become the de facto standard for how professionals sell and homeowners buy even the most sophisticated home improvement projects,” investor Matt Murphy told VentureBeat.
“Hover is leveraging the best and brightest in computer vision to reinvent a massive market and is creating a 3D system of record for home data that will benefit homeowners, contractors, home products companies and insurers.”
