Beams raises $9M Series A to anchor UK home renovation market

Home renovation projects can be unpredictable for both clients and builders. Currently, small contractors do not use modern software and home improvement giants, such as IKEA, tend to struggle with outdated software. UK origin Legs they think it can solve the problem and now they have raised $9 million in Series A funding to solve the problem. This brings his total to $13.3 million to date.

This latest round was led by ETF Partnersand participation from existing investors Giant Ventures, the capital of the first minute and Borusan Ventures.

Beams has a cost engine that predicts how much a project will cost and how long it will take, compares it to 6,000 previous builders, then uses 3D imaging and lasers to create a detailed image of the building to plan the renovation.

Founder and CEO Hayden Wood was at renewable energy startup Bulb (which was acquired by Octopus Energy from management) when he first encountered the problem Beams was trying to solve: “I saw how much conflict there was in making buildings more energy-efficient,” he said. he told TechCrunch.

“The services were often dangerous or difficult for consumers, which meant that many avoided the whole process. I realized that if someone could simplify the process and reduce the risks, more people could complete the renovation and make their homes greener. “

Noticing how small programs were used in renovations, especially compared to commercial construction, he decided that the construction industry was being restored by this old method.

Therefore, Beam is a managed marketplace for customers and builders to find each other, adding software to the home renovation process to make it more predictable and efficient.

The proprietary pricing engine predicts how much a project will ultimately cost and sees builders before they enter the market and after each project is completed.

“We have been operating since September 2023. During this time we have sold over £4 million worth of work. We’re working on 130 renovations and we’ve completed 25,” Wood said.

Yes, there is competition. They include kitchen brands such as Neptune, Plain English, Reform, Uncommon, Devol, Wren and Magnet. And in the UK, leading trade websites such as Checkatrade help contractors find work.

However, Wood says, “there are no players in the market that are developing proprietary software that provides an end-to-end solution that requires refactoring from the construction phase.”

Beams are entering the mainstream market.

The renovation market is worth £380 billion Europe and £5.5 billion in London alone.

The company now plans to accelerate product development and expansion to serve the rest of the UK and Europe.

But what happens if the plan doesn’t work out or the economy does?

“We’re almost done, so if the plan doesn’t work out and the growth slows down, we’ll invest and try other businesses,” Wood said.

Commenting on the investment, Lucy Rands, Partner at ETF Partners, added: “Hayden and the team have developed a comprehensive range of products that go beyond simple energy audits. Their solutions include sustainability and home improvement to support the development of older buildings in the UK and Europe.”