Dallas-based Roomored was equipped for COVID before it even began.
The startup is a pioneer in the virtual home buying experience with its revolutionary 3D visualization platform that literally constructs a new reality for homebuilders.
Since founding Roomored in 2016, Farrukh Malik and his team have been focused on disrupting residential real estate with their sales and design technology—and in a world gone virtual, that’s exactly what the industry needs more than ever.
And big names are starting to take notice.
Roomored has announced a new strategic investment from Interior Logic Group (ILG), one of the leading providers of interior finish solutions for homebuilders. According to Malik, ILG immediately recognized the technology’s vast market potential.
The undisclosed investment will allow Roomored to accelerate the adoption of its virtual modeling technology, according to a statement. The startup will now be able to grow its sales, expedite integrations with third-party services, and accelerate the development of new offerings.
“Their investment provides us with the capital, resources, and relationships needed to rapidly scale our business and offer even more capabilities,” Malik said in a statement. “With ILG backing us, Roomored is positioned to continue transforming the homebuyer experience with digital-first solutions at every stage of the process.”
From its headquarters on Oak Lawn Avenue, Roomored partners with titans in the homebuilding industry to support them in sales and marketing, design, and customization.
Vitual modeling technology
The B2B2C virtual platform allows homebuyers to explore and engage with floor plans, take in video “fly-throughs,” and more. It’s an entirely new (and immersive) way to shop and design a home: There are real-life looks at countertops, cabinets, backsplashes, and more, with unlimited finish options.
This enables builders to offer real-time selections directly to homebuyers online without ever having to visit a design center, showroom, or model home.
The fully digital, end-to-end experience is a first for the industry that Malik says has never been done before. And though he’s been doing it for around four years, with 2019 proving to be Roomored’s best year yet, the COVID-19 pandemic has shown an even greater push for the startup’s solutions.
Per Zillow, virtual touring has increased by 400 percent since February. With the shift to online for much of the home search and customization process, Roomored offers another solution.
According to the startup, it is able to dramatically reduce cycle times for home purchase and design and boost revenue from upgrades for homebuilders.
ILG CEO Alan K. Davenport said his team is excited for Roomored to become a key component of its own innovative and unique technology platform.
“We were impressed with the way Roomored’s lead capture and visualization tools bring the entire home design process into the cloud,” he said. “The nation’s building industry has been clamoring for these capabilities as buyers become increasingly confident in making home-related decisions online, a trend that has only grown with the pandemic.”
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