Announcing our Investment in Calgary based ResVR, leading the $1.7M oversubscribed seed funding round alongside Inverted Ventures to transform Homebuilding Visualization
ResVR helps homebuilders sell upgrades by providing high-quality, subscription-based 3D visualizations. These visualizations include still image renderings, 360 web tours, and video animations, replacing traditional marketing and visualization methods. By offering revisions and updates within their subscription model, ResVR ensures homebuilders can continually showcase their offerings in the best possible light.
Today, we are thrilled to announce our investment in ResVR’s oversubscribed $1.7M seed round of financing, led by Weave VC and Inverted Ventures with participation from Bluesky Equities, InRoad Ventures, M-Tech Innovations, ThresholdImpact, Startup TNT, and a Canadian-based group of angels, including Improbable Games CEO Aaryn Flynn. This round of financing marks a significant milestone in their journey towards redefining how homebuilders showcase and sell upgrades.
We met ResVR CEO, Nathan, over a year ago and were immediately impressed with his background and domain expertise. Nathan’s family is one of the largest detached home builders in Canada, having founded Landmark Homes in 1977. Nathan’s background as an experienced founder and previous work with Epic Games, game developer of the Unreal Engine have made him a perfect champion of utilizing 3D visualization technology to pioneer and enhance how homes are showcased and sold.
The Vision Behind ResVR
ResVR has already demonstrated impressive traction within the homebuilding sector. The company’s mission is to help homebuilders sell upgrades by providing high-quality, subscription-based 3D visualizations. These visualizations include still image renderings, 360 web tours, and video animations, replacing traditional marketing and visualization methods. By offering revisions and updates within their subscription model, ResVR ensures homebuilders can continually showcase their offerings in the best possible light.
Challenges in Homebuilding Sales
Homebuilders often struggle to sell their most expensive upgrades because potential buyers cannot visualize the added value and benefits these upgrades provide. Traditional methods like showhomes, floor plan diagrams, and construction drawings fail to capture the imagination of homebuyers. According to data from homebuyer 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’s Innovative Solution
ResVR addresses this challenge by enabling homebuilders to present their upgrades in stunning 4K resolution on large screens. This immersive experience allows buyers to fall in love with their dream homes before they are built. By focusing on large-scale, production homebuilders who sell the same floor plans repeatedly, ResVR can efficiently scale its offerings. Builders typically construct between 200 and 2,000 homes per year, making them ideal clients for ResVR’s scalable solutions.
Deep Domain Expertise
The ResVR team brings a wealth of experience from the video game industry, particularly in using technologies like Unreal Engine. The founding team, led by Nathan Nasseri, previously built and sold a similar services-based company, REIN: Real Estate Innovation, in 2019.
Significant Milestones
Since initial product launch in November 2023, ResVR has grown from $1K to $15K in monthly recurring revenue (MRR) across 7 major homebuilder customers in Alberta, a testament to the strong market demand for their solution. Their success is further highlighted by the significant increase in sales for builders using their platform — an average increase of $31,000 in just nine months.
The Growing Demand for Visualization
Several factors contribute to the growing opportunity for ResVR:
- Affordability of 4K TVs: High-resolution displays are more accessible, making it easier for builders to adopt advanced visualization tools.
- Advancements in Graphics Technology: Real-time, photorealistic visualizations are now possible, enhancing the buyer’s experience.
- Rising Customer Expectations: Homebuyers expect a higher standard of visualization and customization in their home buying process.
- Increased Home Building Costs: As new homes become more expensive due to material costs and stringent building codes, showcasing upgrades effectively is more critical than ever.
Competitive Advantage and Market Potential
ResVR’s competitive edge lies in its SaaS model, focusing exclusively on homebuilders that match their criteria. This niche focus allows them to create repeatable product catalogs and interior options, providing a consistent and high-quality experience for builders and buyers alike. The visualization industry is rapidly growing, and ResVR is well-positioned to capture significant market share as builders increasingly adopt these advanced tools.
Join Us in Supporting ResVR
ResVR’s ability to transform the home building sales process through immersive, high-quality visualizations presents a unique and scalable opportunity. We are excited to support their journey and watch them revolutionize the industry, improving margins for builders while helping homebuyers visualize and realize their dream homes.
For more information about ResVR and their innovative solutions, please visit their website https://resvr.com/
