Homebound is a new startup company that provides useful technology for homeowners. The process of building a home can at times become difficult and frustrating. Those of us who have had homes built or completely remodeled has gone through times of uncertainly, difficulty with contractors and subcontractors, missed deadlines, and poor communication. These are all stressful issues that the founder of Homebound wanted to resolve. Homebound simplifies to journey for people in the process of having a home custom-built. To bring you up to speed on the benefits of this amazing new tech company, here are 20 things you didn't know about Homebound.
1. Homebound is a custom home builder that maintains transparency
According to Crunchbase, Homebound is a construction company that works with clients to create plans and then build customized new homes. What makes the business stand out among others in the industry is that they use technology to keep their clients fully informed about the progress of their homes. Instead of wondering how things are going, or if a shipment of materials has been delivered, the customer has online access to a program that shows total transparency to help eliminate some of the questions they might have, along with the stress of waiting for a new home to be built.
2. Homebound is listed under multiple industries
Homebound is a versatile construction company that caters to people interested in having new custom homes built. It is categorized under construction, architecture, home improvement, home renovation, and interior design services. This signals us that it is a business that provides its customers with a variety of different services in addition to new home construction.
3. Homebound was founded by a woman
Homebound is a construction business that is designated by Crunchbase as a diverse business in the US. It is founded and led by a woman. Nikki Pechet is the co-founder and CEO of the business. She brings years of experience in the construction business. Her goal in establishing Homebound is to simplify the home building process for clients and to make it more transparent than conventional home building operations. She co-owns the company with her co-founding partners Michael Richards and Tom O'Brien.
4. Homebound is a new startup
This company has only been in operation for a little over three years. Pechet founded Homebound in January of 2018. The company has its headquarters in the San Francisco Bay area, but it provides services for clients in other parts of the country as well. While the company is still technically considered to be in the infancy stage of development it has been remarkably successful n a short time.
5. Homebound is backed by venture capital funding
As of April of 2021, Homebound has received $53 million in venture capital funding. The first round of Series A funding was led by Thrive Capital and closed on December 1, 2018. The round raised $11 million for startup, expansion, and operational costs of running the business. The second and most recent round of Series B funding closed on August 17, 2019. It was led by Fifth Wall and raised an additional $35 million.
6. Homebound is supported by seven investment firms
Homebound is a company that has the confidence of several major investors. These are solid financial investment firms with the two lead investors Thrive Capital and Fifth Wall joined by Sound Ventures, GV, Forerunner Ventures, Khosla Ventures, and the celebrity movie star Ashton Kutcher, who participated in the round of Series B funding for an undisclosed amount.
7. Homebound is led by a team of 8 members
As Homebound continues to expand it has also added staff to ensure its smooth operation. Nikki Pechet is the co-founder and chief executive officer. Michael Richards is co-founder and vice president of construction operations. Ceci Clarke is the head of construction. John Cromwell also serves as head of construction. Tom O'Brien is co-founder and advisor. Aaron Hayos is the vice president of finance. Donnie Flood is the chief technology officer. Jack Abraham is a co-founder and investor in the company.
8. Homebound uses a complex network of different technologies
Homebound is a tech company as much as it is a construction company. It relies heavily on technological advances to keep its customers informed about the construction process. The software is also used as a communications tool between staff and clients. There are currently 45 active technologies used by Homebound. An example of just a few of the technologies used to power its website include Viewport Meta, IPhone/Mobile Compatible, SPF, and over 40 others.
9. The Homebound website is getting a lot of use
We also learned that people do use the Homebound website to monitor the progress of their new homes as they're being built. The website averages 10,517 visits per month. This represents a growth of 96.4 percent in the last 12 months.
10. Homebound was established out of necessity
According to Homebound's official LinkedIn page, Nikki Pechet founded Homebound after the devastating wildfires impacted the Nampa area. The original intention was to provide an efficient service for helping the victims of wildfires to rebuild their homes. The company aims to provide homeowners with everything that is needed to rebuild. Homebound's staff assists people who are affected by traumatic events that damaged or destroyed their homes from the start of the process through the end. This unique company is staffed by caring professionals who provide support for homeowners every step of the way.
11. Homebound is hiring
Homebound has posted two new job openings on its site. The first listing is for a full-stack engineer. This is a job that deals with the technology aspect of the company. The second job posting is for a qualified professional to see as the head of legal for the company. They list the location only as being in the United States, which indicates that they're looking throughout the country to find the most qualified applicants for the jobs.
12. Homebound is trying to help victims of the Austin housing shortage
According to Techcrunch, Homebound has taken an interest in the housing shortage issue that is happening in Austin, Texas. In recent years, there has been an influx of people moving into the area. There are more people than there is housing and it's becoming a rare commodity in the area. Homebound has expanded its operations into the Austin, Texas region to provide custom-built new homes to help alleviate the current housing crisis that residents of the city are experiencing.
13. Homebound raised an additional $20 million in funding
In addition to the $53 million in venture capital that Homebound raised, another investor came on the scene. Google ventures are also among those that share confidence in Homebound's stability and potential for growth. Sound Ventures and Atomic have also joined in. Late last year Homebound was also issued a convertible note, adding an extra $20 million on top of the previous funds raised for a total of $73 million.
14. One of the founders lost his home in a wildfire
Jack Abraham is one of the co-founders of Homebound. He is also a managing partner at Atomic, one of the firms that invested in Homebound. Mr. Abraham has a personal interest in ensuring that people who lose their homes in wildfires receive personal attention in the custom rebuilding of their homes. He also was a victim of the wildfires that blazed through large portions of California. He lost his own home in the blaze and he knows what it is like to go through such a horrific loss. The entire team of professionals at Homebound has a deep sense of empathy for victims of wildfires. Although their company is not limited solely to this kind of work, they do a lot of it. Abraham knows how much it can mean to a family that has been without a home of their own for months, to follow along with the progress of the new construction. The updates can instill a new sense of hope and excitement and they can also help to ease their minds as they see the progress that is being accomplished. Homeowners can also communicate with Homebound workers through the website.
15. Homebound is a virtual general contractor
One of the things that make Homebound so very unique in the industry is that it is not only a general contractor for building homes and going a variety of other construction-related work. it also provides a virtual environment. This makes it more of a dual=purpose company that sets it apart from other construction agencies. While other companies maintain a focus more on the actual building of new homes, etc. The technological aspect of Homebound, along with their attention to the continued well-being and comfort of clients makes it unique among home builders. The online tools help homeowners to stay abreast of progress, but it also helps the workers involved in the process to know what one another is doing, when tasks are completed, and what is left to be done on a home. It's an efficient virtual system that works well for everybody involved in the home building process. It also helps to prevent confusion on big jobs, which is a common issue when multiple subcontractors are working on various aspects of the project.
16. Austin is Homebound's first non-disaster related market
Up until now, Homebound has maintained its focus on helping people rebuild their homes after devastating wildfires. They've been kept busy with this kind of work, but now they're expanding into a territory that is new for them. The Austin expansion is taking the crew into a non-disaster market and the situations there are going to be much different, requiring perhaps new approaches and challenges.
17. Homebound will maintain its same level of transparency in Austin
We learned that the CEO of Homebound plans to provide clients in the Austin area with the same quality of service provided for the victims of wildfires. Although it's a new market, she wants her clients to receive the same level of transparency to monitor the progress of their new home construction. She shared that Homebound plans to serve as a "next-gen" company. She and the team embrace the notion of making it possible for anyone to build a home and to do it anywhere. With the housing market in such bad shape, she believes that Homebound can make a positive difference.
18. Homebound will save Austin residents a lot of money
The economy in Austin has taken a turn due to the recent housing shortage. It's been reported that because of the scarcity some homes go far above the initial asking price. The differences that are currently seen are between 10 to 30 percent higher. Homebound can go into the region and help people build new custom homes for less than they would pay for an older home.
19. Homebound is receiving positive press
Pechet also revealed that as news of Homebound's services is spread around, the demand for their services is growing. The business receives calls from throughout the United States from communities that invite them to come to help them with their housing markets. Pechet is seeing the biggest growth from the Austin projects in the history of the company.
20. Homebound is set to expand across the US
Homebound is in a good position to expand its operations dramatically. With more communities asking for their help, Pechet sees an opportunity for tremendous growth immediately, as well as in the next few years to come. She shared that there is a strong likelihood that Homebound will replicate its services in a variety of other cities that are having issues with housing shortages in the future. A few cities that she mentioned include Charlotte, Raleigh, Tampa, and Miami. Homebound is a company to keep your eye on as it is one of the fastest-growing home building companies in the construction industry for 2021.
Written by Allen Lee
Read more posts by Allen Lee