Welcome Homes intends to use the capital infusion to expand into new markets while also bolstering its product, sales, and marketing initiatives to streamline the home-buying and customization process, cutting by 50 percent the time it takes to build and move into a dream home, to six months.
FREMONT, CA: Welcome Homes announced its official launch as the first fully-online home building, customization, and purchasing experience of its kind, with $5.35M in seed financing led by Global Founders Capital. Welcome Homes intends to use the capital infusion to expand into new markets while also bolstering its product, sales, and marketing initiatives to streamline the home-buying and customization process, cutting the time it takes to build and move into a dream home to six months.
Purchasing a home is considered by many Americans, about 40 percent, as the most stressful event in modern life with the difficulty of finding the right location, managing construction firms, and all the essential legal and financial protocols. Over the last few months, this has only been exacerbated as city dwellers flee urban areas into neighboring suburbs due to the COVID-19 pandemic and its shelter-in-place orders.
"We believe we can dramatically change new home purchasing – customers can get a turnkey, newly built home with us for nearly the same price of the existing home next door, and they can do this all online," said Welcome Homes CEO and Founder, Alec Hartman.
Welcome Homes is entirely self-serve and eliminates the in-person barrier of attending open houses and engaging with realtors face-to-face. Instead, the experience is replaced by a wholly online process that can deliver a custom new home without ever having to see it in-person. The platform helps the users with an opportunity to tailor a home to their preferences from scratch – choosing everything from the plot of land to the moldings to the counter finishes. Whatsmore, the average new residential construction takes at least eight to 12 months to complete, yet Welcome Homes claims to deliver its modern, luxury offering within six months period.
"We believe the team at Welcome Homes is in the best position to create a game changing product at scale in a legacy real estate industry that is ready for change," said Don Stalter, Partner at Global Founders Capital. "Welcome Homes is solving a clear problem by making it easier and more accessible for anyone to build a new home."
In addition to Global Founders Capital, Welcome Homes' seed round featured participation from 8VC, Elefund, Adapt Ventures, Kokopelli Capital, V1 VC, One Way Ventures, AAVCF3, Founders First Capital Partners, Josh Buckley, Arkin Holdings, Foundamental, Soma Capital, Gaingels, Fission Ventures, and Tuesday Capital. Angels involved in the round include Jon Lonsdale, Qasar Younis, and Lior Prosor.