EXCLUSIVE: Simpson Manufacturing Subsidiary Simpson Strong-Tie Invests $1.3M In All-In-One Homebuilding Platform Higharc

Higharc, the all-in-one homebuilding platform for design, sales, and construction, disclosed a $1.3 million strategic investment from Simpson Manufacturing Co Inc SSD subsidiary Simpson Strong-Tie.

The latest round of funding brings Higharc's total capital raised to $26.8 million.

What Happened? The investment represents Simpson Strong-Tie's commitment to providing comprehensive, state-of-the-art solutions to the building industry with digital platforms and physical products.

Why Does It Matter? With this investment, Simpson Strong-Tie will help Higharc provide purchasing teams with more automated and integrated solutions for managing option complexity and accurately generating POs.

This investment supports Simpson Strong-Tie corporate venture investment efforts developed over the last two years. 

"Investing in Higharc presents a unique opportunity to support more efficient homebuilding on a larger scale," said Simpson Strong-Tie Executive Vice President Innovation Jeremy Gilstrap. 

Higharc CEO Marc Minor told Benzinga, "Leaders across the housing industry are backing Higharc, the first Intelligent Homebuilding Platform. Simpson is part of a group of strategic partners we are excited to work with as we transform the way homes are designed, sold, and built."

"Higharc's Intelligent Homebuilding platform creates a single source of truth for builders by automating traditionally manual processes for design, sales, and construction. Simpson Strong-Tie joins a cross-industry group of strategic investors in Higharc from leaders in building materials, land development, distribution, and CAD software," Minor added.

As of October 2022, Higharc helped support the visualization, design and creation of 38 communities nationwide.

Price Action: SSD shares closed lower by 2.17% at $96.66 on Wednesday.