PunchListUSA, the first real estate platform to digitize home inspection data for instant estimates and online ordering of home repair services, announced it has secured $39 million in investments led by Sweetwater Private Equity and Morpheus Ventures.
Additional investors include Home Depot Ventures, Second Century Ventures, Palm Drive Capital, the Bielsky Family Office, IDEA Fund Partners, Meeting Street Capital, Solo Capital Management, and VentureSouth.
Headquartered in Charleston, PunchListUSA currently operates in 14 major U.S. cities, employing nearly 100 full-time employees with plans to expand to over 30 markets through 2023.
“We have been tracking the progress of PunchListUSA and are confident that this leadership team is creating the future of home repair and renovation services,” says Gregg Parise, Managing Partner of Sweetwater Private Equity.
“We are proud to guide and accelerate their continued growth through our experience scaling data-focused technologies with our expansive network of resources for our portfolio companies. We are very excited for the future.”
PunchListUSA currently supports over 150 national and regional broker partners and, since the third quarter of 2021, has added 25 new institutional partners including single-family rental property operators and portfolio investors for renovation and maintenance services.
In addition, PunchListUSA continues to build partnerships with inspection providers to increase the quality and accuracy of repair estimates for homebuyers.
PunchListUSA currently holds a five-year exclusive agreement with Pillar To Post, the largest home inspection services provider in North America, to provide customers instant repair estimates powered by PunchListUSA's proprietary pricing technology.
Proceeds from the Series A funding will be deployed to accelerate development of the consumer-facing platform and proprietary data infrastructure along with geographic expansion over the next two years.