Investors Tap into Pay-at-Closing Home Improvement Market

Home improvement solutions company Curbio thinks it’s ready to disrupt an industry that “has not seen any real innovation in decades,” according to its CEO.

Founded in late 2017, Curbio serves real estate agents, brokerages, and sellers by offering home improvement projects that defer project costs until the home sells. Curbio describes itself as “the first tech-enabled home improvement solution” of its kind and was named the second fastest-growing company in the DC area by Washington Business Journal in 2021, increasing revenue by 193.22% from 2018 to 2020.

Within the Curbio platform, a broker, for example, could receive proposals, schedule subcontractors, order materials, track schedules, receive updates, and communicate with the project team. The company says it averages a 20% increase in home selling prices and reduces project time by 50%. There are no project minimums or credit checks required, either. It claims to help contractors too by expanding their business.

curbio home improvement remodeling

Before and after of a kitchen project completed through Curbio. Photo: courtesy Curbio

Curbio works as the general contractor, sourcing insured and licensed subcontractors through a “strict” vetting process. It claims to be the fastest subcontractor payer in the country, fulfilling payments within seven business days and offering same-day payments.

In late January, the company announced it received $65 million worth of investments in its Series B funding round.

Various venture capital funds are responsible for the now $93 million total funding in Curbio, including real estate tech investor Camber Creek; Comcast’s investing arm Comcast Ventures; architecture, engineering, construction, and facilities management investor Brick & Mortar Ventures; and the investment arm of the National Association of Realtors, Second Century Ventures, among others.

DC-based venture capital fund Revolution Growth has made the largest investments thus far. Revolution Growth’s expansive portfolio includes big names such as Sweetgreen and Draft Kings, but also includes Handy, a handyman, home improvement, and cleaning service finder platform created by Angi, and eSUB, a construction software. Revolution Growth says it invests in “technology-enabled businesses that disrupt existing, multi-billion dollar industries.”

Curbio says those funds will be used to expand into new markets and further develop their proprietary technology, which includes growing its invitation-only system for sourcing contractors.

“[Investors] will be invaluable to Curbio as we shake up an $85 billion industry which has not seen any real innovation in decades,” said Rick Rudman, CEO of Curbio, in the official news release.

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Comments (2)

Crookio as known as Curbio

Submitted by Michael Hornes (not verified) on Fri, 02/03/2023 - 23:18

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Crookio as known as Curbio

Beware. This company is horrible and very unprofessional. They are attempting to do work without even pulling the proper permits. When I noticed that they didn't have the permits and were covering up the work, they said, "Oh, we working on getting them." This is illegal and totally unacceptable to install an entire HVAC system then close up the walls without any permit. They have left the jobsite dirty and trash has been outside for 5 months resulting in us getting a ticket and city violation for trash on the home exterior. The worker stole my mother's brand new stair lift to help her get up stairs. I uninstalled it so they would not mess it up and they stole it. The also stole our antique safe and numerous personal items from the home. The alleged supervisor got mad because I made all the complaints in a professional manner and even included pictures showing evidence and that the work was being done very unprofessional and incorrectly. The tile person installed brand new tile on the walls and floors uneven and in the wrong pattern direction and Ashley Ogburn said they do not warrant or guarantee perfect work. She even tried to say that the age of the house is why they tiles are wrong. The gutted the bathroom down to the studs and installed brand new underlayment that was completely flat.

She got upset because I was raising issues about the job. The completion date was supposed to be 9/11/2022 and they blame a delay on the permits. The received the permit on 7/8/2022 and charged us almost $5000 saying it was expedited. When I looked on the city website, the permit was delayed because they made an error applying for it but refused to acknowledge this or adjust any costs associated with it.

I set up the entire project for my elderly mom because she is now disabled and can no longer navigate up and down stairs. We decided to remodel the house and sell it so she can have enough money to purchase a handicap accessible home to live out the rest of her beautiful life. Curbio is robbing her by sabotaging the construction, charging a premium to do the work, performing substandard and unprofessional work, and trying to circumvent the laws of the District of Columbia's building and safety codes by not obtaining proper permits and conduct work up to standards and codes.

Do not allow Curio, Inc. to perform you renovation project. You are going to be taken advantage of and treated ill. They are trying to refuse to talk with me further because of all the complaints I'm making with them. I initiated the complaints in an efforts to resolve them and now the act as if I'm the enemy. I informed them that I have a Power of Attorney for my mother and her care and I am sorry if they believe that they don't have to talk to me.

Curbio is not the company represented in their expensive marketing campaigns I hope this message reaches the masses so you will not have to go through the pains and problems that we are currently in. It's going on a year and they are under 30% finish and I hope the city government will step in to help deal with CROOKIO...
Crookio as known as Curbio

Submitted by Michael Hornes (not verified) on Fri, 02/03/2023 - 23:18

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- Reply
Crookio as known as Curbio

Beware. This company is horrible and very unprofessional. They are attempting to do work without even pulling the proper permits. When I noticed that they didn't have the permits and were covering up the work, they said, "Oh, we working on getting them." This is illegal and totally unacceptable to install an entire HVAC system then close up the walls without any permit. They have left the jobsite dirty and trash has been outside for 5 months resulting in us getting a ticket and city violation for trash on the home exterior. The worker stole my mother's brand new stair lift to help her get up stairs. I uninstalled it so they would not mess it up and they stole it. The also stole our antique safe and numerous personal items from the home. The alleged supervisor got mad because I made all the complaints in a professional manner and even included pictures showing evidence and that the work was being done very unprofessional and incorrectly. The tile person installed brand new tile on the walls and floors uneven and in the wrong pattern direction and Ashley Ogburn said they do not warrant or guarantee perfect work. She even tried to say that the age of the house is why they tiles are wrong. The gutted the bathroom down to the studs and installed brand new underlayment that was completely flat.

She got upset because I was raising issues about the job. The completion date was supposed to be 9/11/2022 and they blame a delay on the permits. The received the permit on 7/8/2022 and charged us almost $5000 saying it was expedited. When I looked on the city website, the permit was delayed because they made an error applying for it but refused to acknowledge this or adjust any costs associated with it.

I set up the entire project for my elderly mom because she is now disabled and can no longer navigate up and down stairs. We decided to remodel the house and sell it so she can have enough money to purchase a handicap accessible home to live out the rest of her beautiful life. Curbio is robbing her by sabotaging the construction, charging a premium to do the work, performing substandard and unprofessional work, and trying to circumvent the laws of the District of Columbia's building and safety codes by not obtaining proper permits and conduct work up to standards and codes.

Do not allow Curio, Inc. to perform you renovation project. You are going to be taken advantage of and treated ill. They are trying to refuse to talk with me further because of all the complaints I'm making with them. I initiated the complaints in an efforts to resolve them and now the act as if I'm the enemy. I informed them that I have a Power of Attorney for my mother and her care and I am sorry if they believe that they don't have to talk to me.

Curbio is not the company represented in their expensive marketing campaigns I hope this message reaches the masses so you will not have to go through the pains and problems that we are currently in. It's going on a year and they are under 30% finish and I hope the city government will step in to help deal with CROOKIO...