Home Improvement Platform BuildDirect Raises CA$30M
January 22, 2014
BuildDirect, an online supplier of discounted home improvement products, has raised CA$30 million in a Series B financing round led by Mohr Davidow Ventures, with support from additional investors including current backer BDC Venture Capital. The company offers a technology platform, as well as analytic and forecasting tools, to create a service-oriented online shopping experience where consumers can save up to 80% on home improvement products. The products are supported with free samples, coordinated shipping for goods that average 1500 lbs and a 30-day satisfaction return guarantee.
The new funding will be used to fuel BuildDirect's growth by supporting the continued evolution of its technology platform, the expansion of its product offerings and the rapid growth of its employee base. BuildDirect has now raised about $61 million in to-date funding. As part of the new investment, Mohr Davidow's Katherine Barr will join the company's Board.