Homebuilding automation platform Higharc announced March 28 it has received a strategic investment from Ferguson Ventures, the corporate capital arm of industrial distributor Ferguson, and private equity firm Starwood Capital Group.
Financial terms of the investment were not disclosed, but the latest funding brings Higharc’s total capital raised to more than $30 million, according to a news release.
“Ferguson is committed to helping our customers build better through the use of innovative technologies,” Ferguson Ventures Managing Director Blake Luse said in the release. “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.”
The funding will help Higharc accelerate adoption of its technology by homebuilders across the U.S., according to the release.
“Working with Higharc’s technology can improve the speed of new community openings and cycle times,” Starwood Capital Vice President Leander McCormick-Goodhart said in the release. “We are excited to see Higharc collaborate with 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,” Higharc CEO Marc Minor said in the release. “Together we are committed to bringing innovation to the process of building homes and communities. Higharc’s Intelligent Homebuilding platform creates a single source of truth for builders by automating processes for design, sales, and construction.”
Ferguson ranked as the No. 1 Plumbing Distributor, No. 2 Industrial PVF Distributor, No. 2 HVACR Distributor and No. 4 Industrial Distributor on MDM’s Top Distributors list in 2022.