Weaver, a London-based marketplace startup connecting architects and contractors, has raised £3 million in a seed round to fuel expansion plans across metro areas in the UK.
Weaver says the construction sector remains fragmented and disconnected from digital technology. Home renovations are no exception, with less than 1% of renovation bids being carried out online.
Both households and architects struggle to find and discover the best contractors, which is a time-consuming process with few digital solutions on the market.
This lack of transparency and access to choice also makes household renovation riskier than it should be, as there is little due diligence to investigate the track record of contractors under review, no recourse in cases of contractor bankruptcy, with many renovation projects lacking a bidding and proper contract process altogether.
Weaver has built a bidding platform for homeowners and architects to obtain contractor prices for their renovation projects. Its software takes care of sourcing, pricing, contracting and paying contractors over one interface.
The marketplace has processed over $120 million worth of construction over the last four years at an average project value of $160,000. It owns the largest volume of aggregate home renovation data in the UK, from pricing, renovation types to contractor and architect numbers.
The round was led by European VC btov Partners with participation from FJ Labs, Enterprise Fund (a syndicate of former Atlassian & Docker executives), Ben Naftzger (former Atlassian marketing director), Justen Stepka (former product manager at Atlassian & Docker), Jens Schumacher (CPO of search.io and former head of product at Atlassian) and Dr. Stefan Heitmann (founder & CEO of MoneyPark and PriceHubble) amongst others.
“We have been focused on building a platform for home renovation that not only serves an imminent need but will deliver even more value as we scale,” said Greg Keane, CEO and founder.
“Very few industries are as behind as the construction industry, and we are poised to become a game changer that can make home renovation much easier, less risky, and more cost-effective for contractors, architects and homeowners alike.”
Florian Schweitzer, CEO and Partner at btov, said: “We have been following the market for quite some time and have not seen any other player with comparable traction at this stage.
“The team is extremely focused and determined with deep talent to succeed. Hence, we are convinced that Weaver is on to something special and will have a massive impact on the market.”