Calgary’s ResVR announced today that they have completed a series of financings totalling $1.7 million, including $1.43 million in pre-seed and seed funding and $270,000 in non-dilutive capital.
ResVR is a fast-growing proptech startup that enables homebuilders and developers to sell more upgrades through a visualization platform.
The funding was led by Inverted Ventures and Weave VC, with participation from Bluesky Equity, InRoad Ventures, ThresholdImpact, Startup TNT, and a Canadian-based group of angels, including Improbable Games CEO Aaryn Flynn.
Alberta Innovates ($170,000) and NRC-IRAP ($100,000) provided the non-dilutive capital.
Founded in 2023, ResVR is an emerging North American market leader in 3D visualization proptech. It specializes in working with production homebuilders to showcase their designs and plans. This helps homebuyers feel confident in their home purchase and the options and upgrades they can select.
Last week ResVR won the prestigious pitch competition at the 2024 Inventures Conference. Over 1,000 startups applied, narrowed to 30 finalists, and ResVR was among the six winners.
“In 2024, it is crazy that people are making the biggest purchase of their lives and have to imagine what it will look like off blacklines or blueprints. This is the problem ResVR solves,” said ResVR founder and CEO Nathan Nasseri.
Nasseri, whose family has built over 17,000 homes in Alberta, also successfully exited as the CEO and founder of REIN: Real Estate Innovation in 2019.
According to data from home buyer surveys, the need for homebuilding sales visualization software is significant. 87% of new home buyers would make changes to their homes with better visualizations. However, 73% were not provided sufficient information to move forward confidently, and only 65% felt the floorplan selected matched what they received.
“ResVR empowers builders and buyers, which leads to happier customers who are more satisfied with their decisions because they were able to visualize them and make more thoughtful choices,” said Nasseri.
“I am thrilled to be supporting Nathan in his newest endeavor, ResVR, which uses the latest technology to revolutionize home buying on both sides of the sale sheet,” added angel investor Aaron Flynn, CEO of Edmonton’s Inflexion Games.
“As part of that revolution, Nathan is bringing enormous drive and strong experience to ResVR as he and the team help homebuilders make buyer’s dreams come true with more confidence and understanding than ever possible.”
Flynn was also the sole investor in Nasseri’s previous company, Real Estate Innovation (REINVR), which was acquired in 2019.
In addition to scaling its operations and expanding its customer base, ResVR has validated its product roadmap through a slate of programs to support its growth. The startup has completed Alberta Catalyzer, 500 Global, Plug and Play, and recently graduated from Creative Destruction Lab over the past 12 months.
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