RenoRun raises $142M USD to fuel expansion across North America
by CM Staff
Through its digital platform, RenoRun helps contractors drive efficiency to their job sites by planning, sourcing, and delivering building supplies on-demand.
RenoRun associates making a delivery (CNW Group/RENORUN)
MONTREAL — RenoRun, an e-commerce platform for construction and building materials that is trying to disrupt the construction industry, has announced the close of a $142M USD Series B round co-led by Tiger Global and Sozo Ventures. In addition, the company announced it added Sozo Ventures Founder and General Partner, Phil Wickham to its Board.
The growing company now counts over 500 employees across Canada and the U.S
Through its digital platform, RenoRun helps contractors drive efficiency to their job sites by planning, sourcing, and delivering building supplies on-demand and with reportedly greater predictability and dependability. The Canadian company, founded in 2017, works with manufacturers, distributors, suppliers, and brands to supply thousands of building materials and supplies, from lumber, drywall, insulation, shingles, and siding, to hardware, doors, paint, and more.
Additional new investors included Investissement Quebec, SE Ventures, BDC Capital’s Women in Technology and Growth Venture Co-Investment Funds, Fifth Wall, Desjardins Capital, Nicola Wealth, Export Development Canada (EDC), TriplePoint Capital. They were joined by existing RenoRun investors which include ScaleUP Ventures, Obvious Ventures, Inovia Capital, Real Ventures, Maple VC, and Silicon Valley Bank. RenoRun is also excited to bring on executives from GGV, Opendoor, Sonder and founders of GoodFood as strategic investors in this round.
Global supply chain constraints and delays in construction materials have placed a great strain on residential remodelers, commercial home builders, and contractors alike.
“We began this company with the simple mission of making the lives of contractors easier and more efficient. Contractors are entrepreneurs who are juggling an enormous amount of tasks on a weekly basis. Our goal is to give them more time and to help them scale amazing long-lasting businesses by building the world’s most contractor-centric brand” said Founder and CEO Eamonn O’Rourke. “I am incredibly proud of our team that has helped us expand across six markets in Canada and the U.S. With our new funding led by Tiger Global and Sozo Ventures, we are able to grow to the next level to be top of mind for each and every contractor across North America.”
Griffin Schroeder, Partner at Tiger Global added,”RenoRun has streamlined the supply chain for builders and created a more efficient purchasing and delivery platform.”
