DURHAM,
N.C., March 28, 2023 /PRNewswire/ -- Higharc —
the intelligent homebuilding platform for design, sales, and
construction — today announced a strategic investment from Ferguson
Ventures, the corporate venture capital arm of Ferguson and a controlled affiliate of
Starwood Capital Group ("Starwood Capital"), a global private
investment firm. With this investment, Starwood Capital and
Ferguson will help Higharc
accelerate adoption of its technology by homebuilders across the
US.
"Ferguson is committed to
helping our customers build better through the use of innovative
technologies." says Blake Luse,
Managing Director of Ferguson Ventures. "We invested in Higharc to
help builders seamlessly integrate our products and solutions into
their designs. This effort will streamline and create an enhanced
product selection and purchasing experience."
Working with Higharc's technology can improve the speed of new
community openings and cycle times," said Leander McCormick-Goodhart, Vice President at
Starwood Capital. "We are excited to see Higharc collaborate with
our partners homebuilders to build homes faster and more
affordably."
"Ferguson and Starwood Capital
join a group of strategic investors in Higharc who are leaders in
supply chain, land development, and building materials. Together we
are committed to bringing innovation to the process of building
homes and communities," said Higharc CEO Marc Minor. "Higharc's Intelligent Homebuilding
platform creates a single source of truth for builders by
automating processes for design, sales, and construction."
The latest funding brings Higharc's total capital raised to over
$30 million.
To request a demo of Higharc's platform, please visit:
https://higharc.com/
About Higharc
Founded in 2018, Higharc is the first Intelligent
Homebuilding platform changing how new homes are designed, sold and
built. As of October 2022, Higharc
helped support the design, sales and construction of 38 communities
nationwide. Higharc has raised over $30
million in capital since inception and is backed by Spark
Capital, Lux Capital, PlanGrid Co-Founder Ralph Gootee, Built Technologies Founder
Chase Gilbert, Adobe CPO Scott
Belsky, Desktop Metal CEO Ric Fulop,
Digits CEO Jeff Seibert, Digits Co
Founder Wayne Chang, Carbon3D CEO
Phil DeSimone, Pillar Ventures,
Javelin Venture Partners, MetaProp, Tectonic Capital, Montage
Ventures, Vertex Ventures, Simpson Strong-Tie, Ferguson and an affiliate of Starwood Capital.
For more information, visit: https://higharc.com/
About Ferguson
Ferguson plc (NYSE: FERG; LSE:
FERG) is a leading value-added distributor in North America providing expertise, solutions
and products from infrastructure, plumbing and appliances to HVAC,
fire, fabrication and more. We exist to make our customers' complex
projects simple, successful and sustainable. Ferguson is headquartered in the U.K., with
its operations and associates solely focused on North America and managed from Newport News, Virginia. For more information,
please visit www.fergusonplc.com or follow us on LinkedIn.
About Starwood Capital Group
Starwood Capital Group is a private investment firm with a core
focus on global real estate. The Firm and its affiliates maintain
16 offices in seven countries around the world, and currently have
approximately 4,500 employees. Since its inception in 1991,
Starwood Capital Group has raised over $70
billion of capital, and currently has approximately
$120 billion of assets under
management. Through a series of comingled opportunity funds and
Starwood Real Estate Income Trust, Inc. (SREIT), a non-listed REIT,
the Firm has invested in virtually every category of real estate on
a global basis, opportunistically shifting asset classes,
geographies and positions in the capital stack as it perceives
risk/reward dynamics to be evolving. Starwood Capital also manages
Starwood Property Trust (NYSE: STWD), the largest commercial
mortgage real estate investment trust in the United States, which has successfully
deployed over $91 billion of capital
since inception and manages a portfolio of $27 billion across debt and equity investments.
Over the past 31 years, Starwood Capital Group and its affiliates
have successfully executed an investment strategy that involves
building enterprises in both the private and public markets.
Additional information can be found at starwoodcapital.com.
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SOURCE Higharc