Canada-based construction tech start-up RenoRun announced this week that it has raised $142 million in Series B funding, a significant increase from $17.1 million in Series A funding raised in November 2019. Internet and software investment giant Tiger Global Management and Quebec’s Sozo Ventures are new investors in the company and co-led the funding round, adding Sozo’s founder to its board of directors.
A building materials delivery service coordinated via e-commerce platform, RenoRun serves mostly residential and some small commercial contractors in five different markets across the U.S. and Canada. In three years, the company said it has grown from 50 to 500 employees, and more than 10,000 customers, reflecting an expanding need and interest in innovative solutions to address supply chain constraints and delays for construction materials.
