Super Raises $20M Series B Round Funding to Reinvent Home Ownership Experience
Providing U.S. Homeowners Relief Against $300B Annual Spend on Home Care and Repair
SAN FRANCISCO, April 17, 2019 /PRNewswire/ -- Super, a subscription service that provides care and repair for your home, announced it has completed a $20 million Series B round of funding led by Aquiline Technology Growth (ATG), an early- and growth-stage fund managed by Aquiline Capital Partners. The round included participation from Munich Re Ventures, Liberty Mutual Strategic Ventures, Moderne Ventures, 8VC, QIA and Solon Mack Capital.
Founded in 2015 by CEO Jorey Ramer, the company has raised a total of $30 million in funding to-date. Munich Re Ventures, the venture capital arm of Munich Re, one of the largest global reinsurers, continues its participation since leading the company's Series A round from its HSB Fund. With a presence in key U.S. markets including Austin, Chicago, Dallas, Houston, Phoenix, San Antonio and Washington, DC metro, Super plans to use the investment to add new geographies based on the demand from the market, as well as for hiring and technology development.
"Super has developed an effective, convenient platform to provide premium care and repair services for homeowners," said Max Chee of ATG. "Super is tackling an industry that is ripe for innovation with a smart, technology-forward approach, and we are excited to work with Jorey and the rest of the team at Super to help continue that exciting trajectory."
According to a recent Bankrate survey, nearly half of homeowners have regrets over their home purchase, and the number one reason cited is unexpected maintenance or hidden costs. Super is tackling this head on by remedying the ineffectiveness of current home warranties with a technology-driven and customer-centric approach that makes it as easy to rent as it is to own.
Homeowners can use Super's custom app to get appliances fixed and order concierge services to manage the logistics of many home service needs without ever having to deal with the stress, hassle and costs involved. Additionally, Super helps prevent problems with an in-depth maintenance schedule and provides the option to have Super handle routine home maintenance.
"After purchasing my first home, it struck me that homeownership itself is a lot more stressful due to the lack of insight and visibility into unforeseen home-related expenses," said Jorey Ramer, CEO and Founder, Super. "Our vision is to help homeowners own like a renter, by insuring more of the risks associated with owning a home."
Super is a San Francisco-based technology company that offers subscription services providing care and repair for your home. Backed by leading investors, Super was founded in 2015 by Jorey Ramer, Bill Davis, and Ryan Donnelly. Super is committed to providing premium service quality for all homeowners. We partner with the best local servicers to deliver quick and effective home repair and maintenance at a predictable cost, using technology to take the hassle out of homeownership. Visit us at www.hellosuper.com for more information.
About Aquiline Technology Growth
Aquiline Technology Growth (ATG) seeks to invest in early- and growth-stage technology companies that are bringing innovation to the financial services ecosystems. ATG is managed by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across the financial services and technology sector. The ATG team has experience in technology and financial services and is supported by its colleagues at Aquiline, strategic partners, and an active group of industry Executive Advisors. For more information on ATG, visit www.atgvc.com.