BuildDirect Unveils Home Marketplace to Rethink the Renovation Process for Consumers, Suppliers

BuildDirect has launched Home Marketplace, an online platform designed to provide a seamless renovation experience by assisting homeowners at every stage of their remodel, from planning through home delivery.

Results from a recent survey of Canadian renovators commissioned by BuildDirect showed that while 92 percent agree that completing a home renovation was one of the most satisfying feelings, over half found the process more difficult than they expected. Challenges around price, selection and time were the most common issues faced. In fact, during the renovation process three out of four renovators visited three or more different stores, with 41 percent making 10 or more separate trips. In addition, nearly half chose different products from what they originally wanted because of price.

“The $500 billion home improvement industry has been lacking innovation for too long, but today as Home Marketplace officially launches, BuildDirect can perfectly showcase our vision for change,” said BuildDirect CEO Jeff Booth. “Home Marketplace marks an important milestone in our mission to create the world’s simplest and most trusted solution for home improvement. We are delighted to make it available to millions of homeowners and suppliers.”

SEE ALSO: BuildDirect Offers Employees Unlimited Vacation

To combat the problem of limited product selection due to a lack of shelf space at traditional retailers, Home Marketplace will open homeowner searches to an infinite number of products. With access to free virtual design tools, Home Marketplace will empower homeowners to plan their spaces exactly as they desire. BuildDirect built an efficient heavyweight supply chain to overcome the industry’s slow and unreliable delivery standard.

Sellers enjoy a self-service portal, data-driven decisions, and streamlined logistics.

BuildDirect has raised a massive $50 million round.

The Vancouver-born company raised the major capital from new and existing US and Canadian investors including Mohr Davidow Ventures and OMERS.

The significant investment will be used to expand and scale the technology for the company’s Home Marketplace over the next 12 months.

“This commitment from investors is a strong signal for the support and belief in BuildDirect’s unique approach to technology and ability to rebuild a broken home improvement industry,” says Jeff Booth, CEO and co-founder of BuildDirect.

BuildDirect’s Home Marketplace is about using technology to open possibilities for both buyers and sellers, and delivering on an experience that is based on how someone participates in any given moment.

“For sellers, it’s about liquidity and growth not seen in the home improvement industry today,” adds Booth. For buyers, it’s a simple and trusted experience with an intuitive, end-to-end discovery from idea to delivery, the CEO says.

“This funding underscores the speed in which old-world industries are breaking down as platform companies, like BuildDirect, put the power in the hands of consumers,” says Katherine Barr, General Partner, Mohr Davidow Ventures.