Higharc
Overview
Higharc is a technology company focused on the homebuilding industry, utilizing a connected cloud platform to optimize the design, sales, and construction processes of homes. Founded in 2018, the company is headquartered in Durham, North Carolina. It was established by Marc Minor along with co-founders Michael Bergin, Peter Boyer, and Thomas Holt. Higharc has successfully raised $78.7 million to date, with its most recent Series B funding round bringing in $53 million. The company's innovative approach includes the integration of generative design technology to simplify and modernize the homebuilding process, making it more efficient and tailored to modern consumer needs.
Recent Developments
- February 2024: Higharc announced a $53 million Series B funding round led by Spark Capital and Pillar VC. This funding is aimed at expanding its automated materials estimating and generative AI workflows. The fundraising involved over 18 industry leaders including SE Ventures, Home Depot, and Starwood Capital.
- 2023: Higharc experienced rapid growth and increasing customer demand. Their generative design technology has significantly reduced design cycle times by 90 days, a 75% decrease, which has been transformative for the $350 billion US homebuilding industry.
- Innovation and Partnerships: Higharc is collaborating with industry giants to introduce digital transformation in homebuilding processes. Their cloud-based solutions allow seamless integration from design to construction, drastically improving efficiency and reducing costs.
- Impact: Builders using Higharc have reported launching new communities three times faster and improving operational efficiency by reducing manual rework and leveraging real-time data updates.
- Technology Advancements: Higharc is set to enhance its platform's capabilities by integrating advanced AI tools to further streamline workflow and provide better service to its clientele.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2018 |
| Headquarters | Durham, North Carolina, USA |
| Founders | Marc Minor, Michael Bergin, Peter Boyer, Thomas Holt |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Spark Capital, Pillar VC, SE Ventures (Schneider Electric), Home Depot |
| Industry | Technology/Construction Tech |
| Number of Employees | Over 70 |
Early History
Higharc was founded in 2018 by Marc Minor, who envisioned a more integrated and automated approach to home design and construction. Drawing from his experience in 3D printing and digital manufacturing, particularly at companies like Carbon3D and Desktop Metal, Minor sought to address the inefficiencies in traditional homebuilding practices, which were often reliant on outdated tools and processes. The initial team comprised experts in architecture, engineering, and technology, setting the foundation for Higharc’s cloud-based platform that integrates the homebuilding workflow from design to construction.
Company Profile and Achievements
Higharc offers a robust SaaS-based platform that automates the process of home design and construction documentation. Its principal product, The Homebuilding Cloud, allows all stakeholders—from designers to construction teams—to work within a unified framework, thus reducing errors and material waste. Noteworthy achievements include:
- Growth and Scaling: Since its inception, Higharc's platform has facilitated the construction of over 40,000 homes, generating a sales volume of $19 billion annually.
- Tech Innovations: Higharc pioneered the use of generative design in homebuilding, which has garnered attention for drastically reducing design times and improving customization capacity.
- Strategic Partnerships: By engaging with construction giants like Home Depot, Higharc has ensured its platform integrates seamlessly with existing industry standards, paving the way for industry-wide digital transformation.
- Efficient Workflow Integration: The platform boasts features like automated estimating, 3D sales tools, and production-ready construction documents, emphasizing the removal of traditional barriers in the home design and building lifecycle.
Current Operations and Market Position
Higharc positions itself as a leading innovator in the homebuilding tech space, leveraging a cloud-based system that dramatically scales the design and construction processes. Its platform is used by leading builders across North America to accelerate project timelines and optimize every step from design to build. With its focus on process automation and enhanced buyer experiences, Higharc is effectively bridging the gap between traditional homebuilding and modern digital solutions. The company's operations are primarily centered around enhancing customization abilities for homebuyers, reducing project lead times, and fostering better resource management among builders.
Conclusion
Higharc stands as a transformative entity in the homebuilding industry, bringing digital accuracy and efficiency to an often conservative sector. As the company continues to refine its technology and expand its partnerships, it is well-positioned to redefine the future of homebuilding by delivering cost-effective, time-efficient, and customized housing solutions. The significant funding and backing by major industry players indicate strong confidence in Higharc’s business model and its potential for further growth, especially as demand for modern, tech-driven building practices escalates.