Digs, a Vancouver, Washington-based startup focused on software for the homebuilding sector, has successfully secured $5 million in its latest funding round. This capital infusion aims to further develop its platform, which helps residential builders manage pre-construction and design phases more efficiently.
The company, established in 2022, is known for transforming traditional building documents like blueprints and change orders into interactive 3D digital twins. This approach streamlines communication and organization for builders and provides homeowners with a comprehensive digital record of their property.
Key Takeaways
- Digs secured $5 million in pre-Series A funding.
- The company's software digitizes homebuilding workflows, focusing on pre-construction and design.
- It creates 3D digital twins from static documents, enhancing homeowner experience and warranty support.
- Digs has nearly 10,000 homes on its platform and employs 28 people.
- SPLY Capital led the funding round, with other regional investors participating.
Streamlining Home Construction with Digital Innovation
Digs aims to modernize the residential construction industry. Its software platform addresses common challenges faced by homebuilders, particularly in the early stages of a project. By converting static documents into dynamic digital files, the company helps reduce errors and improve collaboration.
The core of Digs' offering is its ability to create a digital, searchable record from various build documents. This includes everything from initial floor plans to design modifications. Builders can then use this digital twin to manage projects, track changes, and communicate with clients more effectively.
Quick Fact
Digs currently supports nearly 10,000 homes on its software platform, indicating significant adoption within the residential building market.
The company's CEO, Ryan Fink, describes Digs as a "CarFax for the home." This analogy highlights the platform's role in creating a living record of a property's value and improvements over time. This digital twin also supports warranty agreements, providing a clear reference point for homeowners.
Leadership and Growth Trajectory
Ryan Fink is a seasoned entrepreneur in the technology space. Before co-founding Digs, he founded ONtheGo Platforms, an augmented reality glasses startup acquired in 2015. He also founded Streem, an AR technology company for home improvement technicians, which Frontdoor acquired in 2019.
Fink co-founded Digs with Ty Frackiewicz. Frackiewicz also co-founded ONtheGo and served as vice president of product at Streem. Their combined experience in augmented reality and home services technology provides a strong foundation for Digs' innovative approach.
"Digs offers homeowners a first-of-its-kind 3D digital twin and AI-powered home ownership experience to become a living record of value and improvements," stated Ryan Fink, CEO of Digs.
The company has seen revenue growth, though specific metrics were not disclosed. This growth underscores the increasing demand for digital solutions in the traditionally slower-to-adapt construction industry. Digs' focus on the pre-construction and design phase is critical, as decisions made at this stage significantly impact project outcomes.
Industry Context
The construction sector is increasingly adopting technology to improve efficiency and reduce costs. Software solutions like those offered by Digs are part of a broader trend towards digitalization, which includes Building Information Modeling (BIM), project management tools, and virtual reality for design visualization.
Funding and Investor Confidence
The recent $5 million funding round is part of a "pre-Series A funding" initiative. This brings Digs' total capital raised to nearly $20 million since its inception in 2022. The investment signals strong confidence from venture capitalists in the company's vision and market potential.
Dallas-based firm SPLY Capital led the latest round. Tyler Williams, General Partner at SPLYCAP, has joined Digs' board of directors, bringing additional expertise and guidance to the company's leadership.
Key Investors in the Latest Round:
- SPLY Capital (Lead Investor)
- Oregon Venture Fund
- Flying Fish
- Portland Seed Fund
- Cascade Seed Fund
Notably, Lanthorne Homes, one of Digs' customers, also invested in this round. This customer investment highlights the practical value and positive impact Digs' software is having on builders' operations. It demonstrates direct user endorsement of the platform's capabilities.
Future Outlook and Team Expansion
Digs currently employs 28 people, a team that has grown to support its expanding operations and product development. The company recently strengthened its leadership by hiring Stephen Molen as Chief Revenue Officer. Molen is an experienced sales leader, and his appointment is expected to drive further market penetration and revenue growth.
The continuous development of its software platform, coupled with strategic leadership hires, positions Digs for further expansion in the homebuilding technology market. The company's focus on creating an AI-powered homeownership experience suggests a commitment to long-term innovation and value creation for both builders and homeowners.
As the real estate and construction industries continue to embrace digital transformation, companies like Digs are at the forefront, offering solutions that promise greater efficiency, transparency, and a better overall experience for all stakeholders involved in the homebuilding process.
