Hover’s core product uses up to eight ordinary smartphone photos to generate structured 3D images encoded with materials, sizes and dimensions to assess repairs and price jobs. The images can be used to automatically create priced quotes, bills of material and timings, and the company also operates an e-commerce portal for builders to order parts. Hover has about 10,000 contractors using its app and holds roughly 35 patents on its technology. The company is already working in commercial buildings and plans to expand further into interior work such as home design and decor, with broader potential in digital twinning across industries. Financially, Hover has grown from roughly $1M in revenue in 2016 to an expected run rate north of $70M this year, reflecting strong traction particularly with insurance partners. Hover provides a computer vision and deep learning platform that converts smartphone photos into interactive 3D property models to facilitate ecommerce for large home improvement projects. The platform delivers exact measurements, lets homeowners and contractors design homes with different products and colors, and enables purchasing of materials directly through the app. Hover partners with The Home Depot, GAF and Beacon, and works with five of the top 10 U.S. insurance carriers to reduce claim adjusting costs and cycle times. The company has grown to hundreds of thousands of users representing tens of thousands of home improvement companies. Led by CEO and founder A.J. Altman, Hover intends to use the new funding to continue to grow through the end of the year. The product and partnerships are positioned to drive further adoption across contractors, retailers and insurers. Hover provides a mobile app that turns a few external photos of a home into a 3D model using computer vision, requiring no specialized hardware or drone shots. The 3D models let homeowners visualize changes like new siding or windows and give contractors precise measurements to produce quotes. Hover also offers Hover Connect, a product that enables contractors to invite homeowners to create models and track lead progress, effectively using contractors to drive adoption. The company emphasizes easy consumer workflows to digitize homes and streamline the homeowner-to-contractor quoting process. Hover is SF-based and has positioned its product as both a consumer visualization tool and a contractor-facing sales/estimation utility. The company has raised institutional funding to scale the business and distribution through contractor partnerships. Hover is a mapping startup that converts smartphone photos, drone and airplane photography, satellite images, recorded video, and other image sources into advanced 3-D imagery. Its core product reconstructs three-dimensional models from nearly any kind of image input. The technology supports inputs ranging from consumer smartphone photos to aerial and satellite photography. According to a Securities and Exchange Commission filing, Hover secured $1.4 million in debt financing. The filing indicates the company is seeking an additional $1.8 million, for a targeted total of $3.2 million. No participating investors were named in the SEC document cited in the VentureBeat article.

Total raised

$111M

Funding rounds

4

Latest round

Series D

Latest activity

Nov 2020