The round, which is billed as the fourth largest Series B raise for a Canadian company, also saw participation from existing investors, which include ScaleUP Ventures, Obvious Ventures, Inovia Capital, Real Ventures, Maple VC and Silicon Valley Bank.
It will also bring on executives from GGV, Opendoor, Sonder and founders of GoodFood as strategic investors.
Founded in 2017 by CEO Eamonn O’Rourke, RenoRun is an e-commerce platform for construction and building materials. Through its digital platform, the solution helps contractors drive efficiency to their job sites by planning, sourcing, and delivering building supplies on-demand and with predictability and dependability.
The company works with manufacturers, distributors, suppliers, and brands to supply thousands of building materials and supplies, from lumber, drywall, insulation, shingles, and siding, to hardware, doors, paint, and more.
O’Rourke, said: “We began this company with the simple mission of making the lives of contractors easier and more efficient. Contractors are entrepreneurs who are juggling an enormous amount of tasks on a weekly basis.
“Our goal is to give them more time and to help them scale amazing long-lasting businesses by building the world’s most contractor-centric brand.
“With our new funding we are able to grow to the next level to be top of mind for each and every contractor across North America.”
In addition, the company announced it added Sozo Ventures Founder and General Partner, Phil Wickham to its Board.
Wickham commented: “RenoRun is transforming a huge, important and inefficient construction logistics market and the proof is in the excitement, and frankly zealotry, for the RenoRun platform and services that we felt from the company’s customer base.”
Griffin Schroeder, Partner at Tiger Global, added: “RenoRun has streamlined the supply chain for builders and created a more efficient purchasing and delivery platform.”
Image credit: RenoRun
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