Humming Homes raises $5.6 million
Humming Homes, a technology-enabled home management solution targeting single-family households in suburban markets, has closed a $5.6 million Seed raise led by Greycroft with participation from AlleyCorp, Thrive Capital, Sound Ventures, New Valley Ventures, and angel investor Abby Miller Levy.
Founded in 2020, Humming Homes has built an end-to-end management solution powered by software for single-family homeowners. Every homeowner has a dedicated home coordinator who serves as the single point of contact for any need. When there’s a service need, the home coordinator connects the homeowner with a vetted pro while promising better pricing, availability and reliability. Humming Homes also catalogs a home’s unique features and builds a personalized plan to manage maintenance and home improvement needs. All this and more starts at $250 per month.
Humming Homes is initially targeting a customer base of the “mass-affluent” – single family homes valued greater than $750k and located in dense, desirable home markets such as The Hamptons, Greenwich, Westchester, Miami, Fort Lauderdale, Greater Los Angeles, Scottsdale, and Texas (Austin, Houston, etc.).
The startup recently inked a strategic partnership with Douglas Elliman for additional access to distribution during the homebuying process.
“Experienced homeowners know that managing a house is like having a second job. Homes need constant maintenance, ranging from landscaping all the way through seasonal cleaning of HVAC, chimneys, windows, and siding. Homeowners keep a long list of contractors and vendors, and you never know if your pricing is fair. Humming Homes solves the problem of how difficult it is for most people to manage their most valuable asset – their home.” – Ian Sigalow, co-founder and partner at Greycroft who will join the Board.
“We have the youngest consumer, the most tech-savvy, and, from a generational standpoint, the least equipped to manage a home in terms of available time and experience. Today’s first-time homeowners have limited resources to help them through the transition from renting to owning. Even more important, 68% of all U.S. households are now dual-income, meaning it’s very likely that the burden of managing all aspects of home maintenance and improvement falls unequally across already-stretched homeowners. This is a huge opportunity – the average U.S. homeowner spends 1% – 2% of their home’s value on maintenance and improvement annually. Our target demographic, which represents just 10% of all homes in the U.S., spends close to 50% of the entire home services market. Homes are inherently complex and the next generation of homeowners needs more than just a band-aid fix or set of inherited vendors to help – and that’s where we want to upend the status quo” – Adeel Mallick, Humming Homes’ CEO.
