Porch Analysis: $270M Raised
What is Porch?
Porch is a home services platform that connects homeowners with quality home improvement, repair, and maintenance professionals. Their unique approach includes serving as the exclusive in-store resource for over 1,700 Lowe’s stores, enhancing accessibility for customers. This connection facilitates seamless home improvement experiences for homeowners, ensuring they find reliable professionals for their projects.
Employees
733
Founded
2012
Industry
Home Services, Insuretech, Marketplace
Latest Funding Round Size
IPO Investment
Parent Company Website
Public Company Status
Public
Recent Venture Round Amount
$150,000,000
Product Features & Capabilities
- Home improvement professional matching
- Moving services with instant quotes
- Home insurance comparison
- Home monitoring and security system reviews
- Cost guides for various home projects
Use Cases
Connect homeowners with local service professionals; Compare home insurance quotes quickly; Schedule moving services with upfront pricing; Access home improvement cost guides; Find reliable home security systems
How much Porch raised
Seed - $6.25 million
June 2013Lead Investor: Ron Conway, Javier Olivan, Jeffrey Skoll
Series A - $27.6 million
September 2014Lead Investor: Lowe's
Series B - $65 million
January 2015Lead Investor: Valor Equity Partners, Lowe's, others
Series C - $21 million
January 2020Lead Investor: Moderne Ventures, existing investors
IPO Investment - $150 million
December 2020Lead Investor: Wellington Management Company, Scopus Asset Management, Point72 Asset Management
Other Considerations
Serves as the exclusive in-store resource for Lowe’s; Offers services across various home improvement categories; Provides a satisfaction guarantee for services rendered
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Financial Overview
$270MTotal Raised
Seed$6.25 million
June 2013
Investors: Ron Conway, Javier Olivan, Jeffrey Skoll
Series A$27.6 million
September 2014
Investors: Lowe's
Series B$65 million
January 2015
Investors: Valor Equity Partners, Lowe's, others
Series C$21 million
January 2020
Investors: Moderne Ventures, existing investors
IPO Investment$150 million
December 2020
Investors: Wellington Management Company, Scopus Asset Management, Point72 Asset Management