ITV has added architectural tech company Resi to its media for equity portfolio in its first investment of 2023.
As part of ITV Adventures Invest – its media for equity investment fund – ITV has agreed to invest up to £3m of advertising inventory across ITV’s channels and ITVX in return for a minority equity stake in the company.
London-based Resi, formerly BuildPath, is the brainchild of serial entrepreneurs Alex Depledge MBE and Jules Coleman MBE and helps homeowners complete building projects faster and at lower cost.
In 2015 the duo sold previous tech business Hassle, a cleaner booking service, in a multi-million-pound deal.
Resi is on a mission to change, democratise and have a sustainable impact on the UK home improvement market, and joins ITV’s diverse portfolio of successful media for equity investments including location app what3words, online menswear brand Spoke, wellness brand Feel and Europe’s biggest new car buying marketplace Carwow.
ITV’s investment will bring Resi to millions of viewers, launching the brand on TV for the first time.
Alex Depledge, founder and CEO of Resi, said: “ITV offers an unparalleled opportunity to reach millions of households right across the UK.
“Through a combination of both the scale of linear TV channels and a growing digital audience with ITVX, ITV enables Resi to speak directly to the everyday homeowner.
“Homeowners who are looking to improve their property and reduce their energy costs but are not sure where to start or who to trust.”
Sheena Amin, director of ITV AdVentures Invest, said: “It’s an exciting time for ITV AdVentures as we announce our first media for equity investment of the year.
“I am also proud to be backing our first all female founder team. Alex and Jules are serial entrepreneurs, with a proven track record of building, scaling and exiting online marketplaces.
“I have been thoroughly impressed by their passion and dedication to innovating and digitising the residential architectural market.
“Resi solves so many pain points for home renovators and architects alike, and I look forward to helping the company become a household name through the power of ITV.”
Resi is unique in assisting with the architectural design and planning of a project, but also the financial aspects and the build via its connect service.
It has quickly established itself as the largest residential architect in the UK – undertaking more projects than any other residential architecture practice (nearly 6,000 to date) and has a market-leading 96 per cent planning approval rate.