RenoRun, an app-based service for ordering construction and building supplies, has secured CA$22.5 million ($17m) in Series A funding. The round was co-led by Inovia Capital and Obvious Ventures, with participation from ScaleUp Ventures, Real Ventures, Maple VC and Silicon Valley Bank.
The “builder-friendly app” connects contractors with on-demand delivery of materials to construction sites, saving them both time and money. Launched in 2017 with headquarters in Montreal, the company has a growing presence across Canada and the US.
Eamonn O’Rourke, CEO and founder of RenoRun, said:
“One of the costliest factors on a jobsite is a loss of efficiency. Running out of materials not only affects the build itself, but it also puts the crew down a worker when someone has to go buy more lumber, drywall or other materials. We created RenoRun to put an end to this age-old problem.
‘Our goal was to help crews finish on time and finish efficiently, and that’s exactly what we’re doing. This funding is going to allow us to do even more for the men and women in the industry, who need as much efficiency as possible in one of the tightest labor markets of the 21st century.”
This latest investment comes on the heels of a $3 million seed round, led by Real Ventures with participation from ScaleUp Ventures, back in July. The money will be used to help scale RenoRun’s business in each of the cities that the company operates, as well as to continue rapid employee growth to meet customer demands.