On July 18, Higharc, the intelligent homebuilding platform for design, sales, and construction, announced a strategic investment to accelerate the adoption of its generative design technology and help transform the homebuilding process. The investment was made by Standard Investments, the investment arm of global industrial company Standard Industries; Home Depot Ventures, the venture capital fund managed by the home improvement retailer; and Carl Bass, former president and CEO of Autodesk, who also joined Higharc as an adviser. To date, Higharc has raised more than $40 million in capital since its 2018 founding.
The investment coincides with a critical moment for the U.S. housing market. In April, The Wall Street Journal reported that the country’s housing needs outpace available stock by as many as 7.3 million units, driving up consumer prices and putting immense pressure on builders to meet demand.
Residential homebuilders wanting to scale face shifting regulations, legacy software systems, and redundant manual processes that result in reduced efficiency and higher costs.
Through automation, Higharc’s platform aims to offer the tools and documentation needed to design, sell, and build homes at scale, including 3D modeling for designing and takeoffs, rendering and pricing capabilities, and permit-ready construction documents. The software also enables buyers to configure their own residence using interactive 3D and pricing models.
“Revit and BIM transformed the architecture industry, and I see Higharc’s generative design platform having a similar transformative effect on homes,” Bass said in Higharc's press release. “I am thrilled to join the journey with Higharc, a pioneer in its field, as they lead the charge in reshaping the construction landscape and redefining how homes and communities come to life.”
“Standard believes in the power of digital technology to transform the physical world and that is exactly what Higharc is doing for homebuilding,” said Ben Sampson, managing director of Standard Investments, in the release. “We are proud to support the Higharc team as they continue to bring their platform to homebuilders across the country.”
“We are thrilled to have Home Depot Ventures, Standard Investments, and Carl Bass join Higharc to bring innovation to the homebuilding industry,” said Higharc CEO Marc Minor in the release. “Transformational change in critical industries like homebuilding depends on robust partnerships. The decision of these industry leaders to support Higharc as we expand our platform speaks to the caliber of our team and the impact Higharc has made for builders across the country.”
Other investors in Higharc include Spark Capital, Lux Capital, GAF, Adobe CPO Scott Belsky, Javelin Venture Partners, Pillar VC, Simpson Strong-Tie, Ferguson, and Starwood Capital, plus founders of PlanGrid, Built Technologies, Desktop Metal, Carbon3D, and Digits.
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