Ferguson plc's FERG venture capital arm and Starwood Capital Group, a global private investment firm, have invested in Higharc to accelerate the adoption of its technology by homebuilders across the U.S.
Higharc offers a homebuilding platform for design, sales, and construction. As of October 2022, Higharc helped support the design, sales, and construction of 38 communities nationwide.
The latest funding brings Higharc's total capital raised to over $30 million.
"Ferguson Ventures is focused on identifying innovation that will help our customers build better and gain productivity in the construction process. Higharc is positioned to help drive additional productivity in making design choices and selections." -- Blake Luse, Managing Director of Ferguson Ventures, said to Benzinga.
"We are thrilled to welcome Ferguson and Starwood to the group of leaders from the housing industry who are backing Higharc, the first Intelligent Homebuilding Platform. We are excited to work with this group as we transform the way homes are designed, sold, and built." -- said Marc Minor, CEO of Higharc to Benzinga.
Price Action: FERG shares closed at $129.93 on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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