Ferguson and Starwood Capital Invest in Higharc to Accelerate Automation in Home Design and Construction

Rhea-AI Summary

On March 28, 2023, Higharc announced a strategic investment from Ferguson Ventures and Starwood Capital Group, aimed at accelerating the adoption of its intelligent homebuilding platform among U.S. homebuilders. This funding, part of a push to enhance the integration of Ferguson's products into home designs, brings Higharc's total capital raised to over $30 million. The investment is expected to streamline design and purchasing processes, improve community opening speeds, and support the construction of homes more affordably. Higharc, founded in 2018, has already aided in designing and constructing 38 communities across the nation.

Positive

• Strategic investment of Ferguson Ventures and Starwood Capital enhances Higharc's market position.
• Total capital raised reaches over $30 million, indicating strong investor confidence.
• Investment aims to streamline processes for builders, potentially leading to faster construction times.

Negative

• None.

DURHAM, N.C., March 28, 2023 /PRNewswire/ -- Higharc — the intelligent homebuilding platform for design, sales, and construction — today announced a strategic investment from Ferguson Ventures, the corporate venture capital arm of Ferguson and a controlled affiliate of Starwood Capital Group ("Starwood Capital"), a global private investment firm. With this investment, Starwood Capital and Ferguson will help Higharc accelerate adoption of its technology by homebuilders across the US.

"Ferguson is committed to helping our customers build better through the use of innovative technologies." says Blake Luse, Managing Director of Ferguson Ventures. "We invested in Higharc to help builders seamlessly integrate our products and solutions into their designs. This effort will streamline and create an enhanced product selection and purchasing experience."

Working with Higharc's technology can improve the speed of new community openings and cycle times," said Leander McCormick-Goodhart, Vice President at Starwood Capital. "We are excited to see Higharc collaborate with our partners homebuilders to build homes faster and more affordably."

"Ferguson and Starwood Capital join a group of strategic investors in Higharc who are leaders in supply chain, land development, and building materials. Together we are committed to bringing innovation to the process of building homes and communities," said Higharc CEO Marc Minor. "Higharc's Intelligent Homebuilding platform creates a single source of truth for builders by automating processes for design, sales, and construction."

The latest funding brings Higharc's total capital raised to over $30 million.

To request a demo of Higharc's platform, please visit: https://higharc.com/

About Higharc

Founded in 2018, Higharc is the first Intelligent Homebuilding platform changing how new homes are designed, sold and built. As of October 2022, Higharc helped support the design, sales and construction of 38 communities nationwide. Higharc has raised over $30 million in capital since inception and is backed by Spark Capital, Lux Capital, PlanGrid Co-Founder Ralph Gootee, Built Technologies Founder Chase Gilbert, Adobe CPO Scott Belsky, Desktop Metal CEO Ric Fulop, Digits CEO Jeff Seibert, Digits Co Founder Wayne Chang, Carbon3D CEO Phil DeSimone, Pillar Ventures, Javelin Venture Partners, MetaProp, Tectonic Capital, Montage Ventures, Vertex Ventures, Simpson Strong-Tie, Ferguson and an affiliate of Starwood Capital. For more information, visit: https://higharc.com/

About Ferguson

Ferguson plc (NYSE: FERG; LSE: FERG) is a leading value-added distributor in North America providing expertise, solutions and products from infrastructure, plumbing and appliances to HVAC, fire, fabrication and more. We exist to make our customers' complex projects simple, successful and sustainable. Ferguson is headquartered in the U.K., with its operations and associates solely focused on North America and managed from Newport News, Virginia. For more information, please visit www.fergusonplc.com or follow us on LinkedIn.

About Starwood Capital Group

Starwood Capital Group is a private investment firm with a core focus on global real estate. The Firm and its affiliates maintain 16 offices in seven countries around the world, and currently have approximately 4,500 employees. Since its inception in 1991, Starwood Capital Group has raised over $70 billion of capital, and currently has approximately $120 billion of assets under management. Through a series of comingled opportunity funds and Starwood Real Estate Income Trust, Inc. (SREIT), a non-listed REIT, the Firm has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk/reward dynamics to be evolving. Starwood Capital also manages Starwood Property Trust (NYSE: STWD), the largest commercial mortgage real estate investment trust in the United States, which has successfully deployed over $91 billion of capital since inception and manages a portfolio of $27 billion across debt and equity investments. Over the past 31 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises in both the private and public markets. Additional information can be found at starwoodcapital.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/ferguson-and-starwood-capital-invest-in-higharc-to-accelerate-automation-in-home-design-and-construction-301783329.html

SOURCE Higharc

FAQ

What is the significance of Ferguson's investment in Higharc?

Ferguson's investment aims to help Higharc accelerate the adoption of its technology among homebuilders, enhancing their product integration.

How much total capital has Higharc raised after this investment?

Higharc has raised over $30 million in total capital, following the latest investment.

When was the investment in Higharc announced?

The investment was announced on March 28, 2023.

Who are the investors involved in Higharc's latest funding round?

The latest funding round involves Ferguson Ventures and Starwood Capital Group.

What impact does Higharc's platform have on homebuilding?

Higharc's platform aims to streamline home design and construction processes, potentially speeding up community openings.