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Venture Capital
fifthwall.com

Investments

186

Portfolio Exits

16

Funds

31

Partners & Customers

4

Service Providers

1

About Fifth Wall

Fifth Wall is a venture capital firm. It invests in technology based companies tackling climate change, aging buildings and infrastructure, inaccessible housing markets, unreliable supply chains, and more. The company was founded in 2016 and is based in Venice, California.

Headquarters Location

1410 Abbot Kinney Boulevard

Venice, California, 90291,

United States

(310) 314-2677

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Latest Fifth Wall News

Higharc Announces $53M Series B for its Connected Homebuilding Cloud

Feb 16, 2024

Share This Article Over 18 industry leaders, including SE Ventures (Schneider Electric), Home Depot, Fifth Wall, Ferguson, Suffolk Technologies, and Starwood Capital, now back Higharc as more builders switch to its integrated cloud platform. DURHAM, N.C., February 15, 2024-- Higharc, the connected cloud platform for homebuilding operations, announced today a $53 million Series B funding round powered by over 18 industry leaders from construction, building products manufacturing, and distribution. The new financing follows the company's rapid growth and customer demand in 2023, as it has emerged as the next-generation cloud software leader in the $350 billion US homebuilding industry. Spark Capital and Pillar VC led the round, with participation from SE Ventures (Schneider Electric's Venture Arm), Fifth Wall, Starwood Capital, Standard Investments, Home Depot, Ferguson, Simpson Strong-Tie, Mulhern+Kulp Engineering, Suffolk Technologies, RXR Realty, PSP Growth, Metaprop, SC Masterfund, Carl Bass — the former Autodesk CEO — along with leaders from Mighty Buildings, Welcome Homes, CBRE, and Ware Malcomb. ' The investment will be used to support Higharc's growth and expand its automated materials estimating and generative AI-based workflows. "Higharc exists to serve the hardworking teams who build homes across America–they've been stuck using 40-year-old software that wasn't designed with their needs in mind, and they deserve better," said Marc Minor, CEO of Higharc. "This additional capital reinforces Higharc's long-term commitment to the success of our customers and to unlocking digital transformation for the entire homebuilding industry." Homebuilders Are Bringing New Communities to Market 3X Faster With Higharc The adoption of Higharc's generative design technology helped builders bring new homes and communities to market faster than ever in 2023, eliminating 90 days from the design cycle for new communities — a 75% reduction — while decreasing soft cycle time by 33%. "Higharc is truly the 'best in class' way to draft new home designs and to guide potential buyers through the overwhelming personalization process prior to sale. We're now more responsive than ever," said Paul Hanson, President of Franchising at Epcon Communities and current Higharc customer. Over one million homes are built annually in the U.S., yet we still have a housing shortage of five million homes1. Builders often struggle to improve operational efficiency because they are stuck with old, siloed software solutions and inadequate data. The results are time-intensive manual processes, a "whack-a-mole" approach to changes, constant rework, and poor customer experiences. Higharc's Homebuilding Cloud replaces the "pen and paper" processes and software solutions that dominate the industry. Homebuilders get everything they need to design, estimate, sell and build homes in one place. This means departments can stay connected and in sync with accurate data while moving much faster. Whenever a plan changes, every department gets updated automatically with new 3D sales experiences, materials takeoffs, and construction documents — drastically reducing cycle time and costly rework. "Higharc is modernizing a large, foundational industry that's traditionally been tough to change with technology. By bringing together builders, manufacturers, and buyers, Higharc's transformative technology is rewriting the rules of the design-to-construction process. This technology is fundamentally improving how we build homes in this country for generations to come," said Alex Finkelstein, Co-founder and General Partner at Spark Capital. Industry Insiders Invest to Accelerate Innovation in Homebuilding The investment brings Higharc's total capital raised since 2018 to $78.7 million, positioning the company to continue delivering on their mission to help build better and more affordable homes through technology. Previous investors Javelin Venture Partners, Lux Capital, and Vertex Ventures also joined the round. Over 18 industry leaders came together to support Higharc's growth and innovation in the industry. "Higharc's technology is second-to-none in the homebuilding space, offering a system that expedites the design-to-construction process and adds value to all stakeholders. In collaboration with Schneider Electric, SE Ventures is excited to help bring market insight and drive commercial deployment with homebuilders globally," said Brad Jones, Principal at SE Ventures. "I've rarely seen such a talented team come together around such a powerful shared vision," said Russ Wilcox, Partner at Pillar VC. "They cracked the code on how software can help builders move from concept to construction with a smart and precise tool, which means owners get exactly what they want, and the job is both faster and cheaper. Everybody wins." To learn more about Higharc, visit higharc.com. About Higharc Founded in 2018, Higharc is the pioneer of The Homebuilding Cloud — the only connected platform that helps homebuilders transform how they design, sell, and build new homes and communities. Higharc customers today build over 40,000 homes annually representing $19 billion in new home sales volume. Headquartered in Durham, North Carolina, Higharc operates a remote-first workplace with over 70 full-time employees. About Pillar VC Pillar VC is an early-stage venture firm co-founded by 22 CEOs who have built Boston's most successful companies, including the leaders of Wayfair, Ginkgo Bioworks, DraftKings, and Tripadvisor. Pillar is typically the first capital in for founders building next-generation pillar companies; the firm's investments include PillPack, Desktop Metal, Jellyfish, JobGet, and Asimov, among other companies. To learn more, visit www.pillar.vc. About Spark Capital We are Spark Capital, investors in products we love by creators we admire, including Affirm, Anthropic, Cruise, Discord, Oculus, Plaid, Postmates, Slack, Twitter, and Wayfair. We know there are no playbooks or formulas for success and are here to help founders win their own way. We invest across all sectors and stages, and work out of San Francisco, Boston, and New York City. ¹Source: https://www.nar.realtor/june-is-national-homeownership-month/housing-supply-and-affordability

Fifth Wall Investments

186 Investments

Fifth Wall has made 186 investments. Their latest investment was in Higharc as part of their Series B - II on February 15, 2024.

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Fifth Wall Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

2/15/2024

Series B - II

Higharc

$53M

Yes

4

2/12/2024

Series A

Document Crunch

$9M

No

2

1/22/2024

Series C

Neighbor

$6M

No

1

1/16/2024

Series C

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$99M

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10

1/15/2024

Series A

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$99M

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10

Date

2/15/2024

2/12/2024

1/22/2024

1/16/2024

1/15/2024

Round

Series B - II

Series A

Series C

Series C

Series A

Company

Higharc

Document Crunch

Neighbor

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Amount

$53M

$9M

$6M

$99M

$99M

New?

Yes

No

No

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Co-Investors

Sources

4

2

1

10

10

Fifth Wall Portfolio Exits

16 Portfolio Exits

Fifth Wall has 16 portfolio exits. Their latest portfolio exit was Veev on December 21, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/21/2023

Asset Sale

$99M

2

11/27/2023

Merger

$99M

5

6/16/2023

Acquired

$99M

3

12/9/2022

Acquired

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$99M

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10

11/3/2022

Acquired

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$99M

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10

Date

12/21/2023

11/27/2023

6/16/2023

12/9/2022

11/3/2022

Exit

Asset Sale

Merger

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

5

3

10

10

Fifth Wall Fund History

31 Fund Histories

Fifth Wall has 31 funds, including Fifth Wall Real Estate Technology Fund III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/13/2022

Fifth Wall Real Estate Technology Fund III

$866M

1

7/21/2022

Fifth Wall Climate Technology Fund I

$500M

2

2/16/2022

Fifth Wall European Real Estate Technology Fund

$159.33M

2

12/11/2020

Fifth Wall PRC SPV

$99M

10

11/16/2020

Fifth Wall PRB SPV

$99M

10

Closing Date

12/13/2022

7/21/2022

2/16/2022

12/11/2020

11/16/2020

Fund

Fifth Wall Real Estate Technology Fund III

Fifth Wall Climate Technology Fund I

Fifth Wall European Real Estate Technology Fund

Fifth Wall PRC SPV

Fifth Wall PRB SPV

Fund Type

Status

Amount

$866M

$500M

$159.33M

$99M

$99M

Sources

1

2

2

10

10

Fifth Wall Partners & Customers

4 Partners and customers

Fifth Wall has 4 strategic partners and customers. Fifth Wall recently partnered with Cadence Counsel on November 11, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

11/5/2021

Partner

United States

1

5/3/2021

Partner

United Arab Emirates

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10

7/17/2019

Partner

United States

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10

Partner

United States

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10

Date

11/5/2021

5/3/2021

7/17/2019

Type

Partner

Partner

Partner

Partner

Business Partner

Country

United States

United Arab Emirates

United States

United States

News Snippet

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Sources

1

10

10

10

Fifth Wall Service Providers

1 Service Provider

Fifth Wall has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

General Counsel

Partnership data by VentureSource

Fifth Wall Team

6 Team Members

Fifth Wall has 6 team members, including current Founder, Managing Partner, Bradley Greiwe.

Name

Work History

Title

Status

Bradley Greiwe

Founder, Managing Partner

Current

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Name

Bradley Greiwe

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Work History

Title

Founder, Managing Partner

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Status

Current

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