Digs raises $7M for its collaboration platform for home builders
Reading Time: 2 minutesVancouver, Washington–based Digs, a collaboration platform that provides homebuilders, vendors and — eventually — homeowners with something akin to a digital twin of a home, today announced that it has extended its $7 million seed round from 2023 with another $7 million. The new round was led by the Oregon Venture Fund (OVF) and Legacy Capital Ventures, with its existing investors like Fuse, Flying Fish, Betaworks and PSF following on from their previous investment and Deepwater Asset Management also joining in this round.
‘It’s fantastic to have proven investors like OVF and Legacy lead our seed round and partner in helping us navigate all the challenges accompanying rapid growth,’ said Digs CEO and co-founder Ryan Fink. ‘Bringing on additional seasoned experience building and scaling consumer technology will ensure our ability to continue to grow efficiently and accelerate our marketplace strategy.’
Fink, who co-founded the company with Ty Frackiewicz, previously built Streem, which aimed to create digital twins of homes using nothing by phone cameras. Frontdoor acquired Streem in 2019. Now the team is using a different approach that focuses more on helping builders, vendors and homeowners share documents, using AI and computer vision to help them better understand those documents. At the core of that is a modern real-time collaboration platform and document storage service.
‘Digs is taking how we build and own a home to the next level,’ said Gene Munster, managing partner at Deepwater. ‘We’re excited to partner again with Fink and team who are using AI to solve real pain points that millions feel every day, whether you’re a builder or a homeowner.’
Digs is now out of beta and available in the U.S. and Canada and besides several boutique builders, it also counts some national developers among its users.
To help grow the team, Digs recently hired Jef Holove as its chief operating officer. Holove was previously the CEO of Drop, the marketplace best known for its keyboard and audiophile selections. Corsair acquired Drop in 2023. Maybe even more importantly, before that, he was the COO of Streem — and before that the CEO of Basis, which Intel acquired in 2014 (and, as with so many Intel acquisitions around that time, quickly abandoned). He was also previously the CEO of Eye-Fi, which was ultimately acquired by Ricoh. Tell me if you spot a trend here.
‘The digital twin that Digs creates for the home includes everything home builders and homeowners would need to know — from room dimensions, paint and fixture specifics, to what water filter is compatible with the fridge,’ Holove said. ‘Imagine the unprecedented ease of managing and improving homes with insights tailored to your interests, available at the press of a button.’
Ref: techcrunch
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