Seattle home-improvement startup Porch.com is expanding its platform and revealing how much money it has raised from investors.
A year after launching as a referral service connecting homeowners to contractors, the company is repositioning itself as a “home network.” It will continue to help people research home-improvement projects and find home-improvement pros. Homeowners can also use the site to build an online profile of their home — like a LinkedIn page for their house — listing improvements they’ve made.
Already, the site produces home-project reports — like Carfax reports for homes — that are offered through its partner, Realtor.com.
Porch faces lots of competition from other companies trying to webify home improvement, including Pro.com, a Seattle startup that’s also building a platform to connect people with home-improvement pros.
Porch’s founder and chief executive, Matt Ehrlichman, said the company isn’t responding to competition as much as following its original plan: to build a platform around a huge collection of home-improvement data gathered from building departments and other sources.
“The strategy from the very beginning has been to lock up data, this home graph,” he said.
The company now has data on more than 120 million home projects, including costs, history and details on who did the work.
With the data in hand, the platform in place and partnerships made with Lowes and Realtor.com, the next step is to rev up the business — or “fulfilling the product and sales,” as Ehrlichman put it.
Porch still isn’t saying much about sales or user stats, but it did disclose that it has raised more than $33 million, including a $27.6 million Series A financing round that closed early in its first year.
The company has also grown to more than 200 employees and is already looking for space beyond the 30,000-square-foot office it’s filling out in Eastlake.