AI-Powered Home Repair Startup Raises $1.5M

Repair Pricer lacked the fundamental knowledge of fundraising and venture capital necessary to position the business for major investment from professional investors. 

As a startup founder, Christian hesitated in admitting that venture funding – paired with a new business model – was the only viable way to turn the business into a scalable and long-term growth opportunity. 

This skeptical mindset and selectivity with potential investors limited the company as it attempted to raise capital. 

Ultimately, Repair Pricer needed to decide if it was serious about disrupting a growing market that accounts for 5.5M yearly home inspections with a potential upside of $125M in annual revenues. 

Newchip aided in Repair Pricer’s development by helping Christian understand that the company needed to fundraise in order to scale properly and sustain long-term growth. 

Through a deep commitment to completing the accelerator online curriculum, consistent attendance at pitch deck reviews, and active participation in monthly Mastermind sessions, Repair Pricer took a big step towards launching its financing round. 

In fact, after extensive preparation in the Newchip Accelerator, the startup found itself in a unique position where it could confidently turn down multiple offers in order to remain true to its mission.

After evaluating many term sheets, Repair Pricer closed an investment of $1.5M. 

Besides a successful raise, the PropTech startup revamped its roadmap with an intention to move towards a fully automated Al solution. This will empower millions of real estate agents and their home-seeking clients to make optimal buying decisions faster than ever before.

About Repair Pricer

Repair Pricer is an Al-powered home inspection cost calculator that can turn any home inspection report into a highly accurate repair estimate within 24 hours. 

After 15 years as a real estate broker, Christian Adams, the Founder & CEO, launched the company in order to solve a problem he faced multiple times when selling homes. Once a home inspection was completed, the buying process would come to a halt while agents would have to wait for an estimate before moving forward in the negotiating process. 

Repair Pricer’s software solution eliminates the time-intensive and typically inconsistent way that home repair costs are estimated. Instead of relying on multiple contractors and wasting valuable time, Repair Pricer is able to calculate an instant quote in 40 seconds, with a comprehensive, human-reviewed estimate provided within 24 hours.

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Armando Vera Carvajal

Armando Vera Carvajal

Armando Vera Carvajal is the Vice President of Product for Newchip, the largest global online accelerator focused on helping startups raise capital from professional investors. As one of the original product founders and pioneers, Armando is passionate about building new products with high potential for global reach and impact. Prior to Newchip, he was as a Research Manager at the Gerson Lehrman Group where he covered hedge fund clients in New York City involved in long/short, distressed credit, special situations, activist, and global macro investment strategies. Armando studied international relations and corporate communications at the University of Texas at Austin, along with global exchanges at the Nanyang Technological University in Singapore and at l’Institut d'études politiques de Paris (Sciences Po). Born in Mexico City, Armando immigrated to the United States of America when he was four years old and grew up in McAllen, Texas. His interests include painting, mountaineering, writing, film, world travel, kayaking, photography, reading, black coffee, running, and inspiring people to become agents of positive global change.

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