Durham Initial $53 Million is Raised by Higharc to Update Home Design

Durham Initial $53 Million is Raised by Higharc to Update Home Design

Gaining traction, Higharc, a Durham software company, raised $53 million from investors, including Ferguson and Home Depot, to revolutionize the way builders construct homes.

According to CEO Marc Minor, Axios, the company is now valued at $233 million as a result of the latest fundraising round.

Higharc was founded in 2018 and its solutions automate a large portion of the new house design process. Additionally, it generates 3D online models that simplify the process for clients to select their own design components.

As design modifications are made, Higharc’s software instantly updates the plans, accounting for local code requirements and the potential effects of minor adjustments on material usage and other areas of the home’s design.

The majority of designers and architects still use AutoCAD, a 41-year-old software platform, but Minor said he thinks Higharc’s products perform better and more effectively.

Carl Bass, the former CEO of Autodesk, the company that makes AutoCAD, was even convinced to invest in Higharc by it.

“Ninety percent of homes in the US are designed using a 40-year-old piece of software,” Minor said in an interview. “Our goal and our trajectory is to replace that piece of software and to be used on all homes.”

Other investors in Higharc include Ferguson, Home Depot, and Schneider Electric.

According to Minor, the building and construction sector is interested in Higharc because it thinks the data generated by its software may more precisely predict how much material will be required to build a home, possibly reducing waste.

With the cash, the company, which currently employs about 70 people, is expected to add 20 jobs this year, according to Minor. There are roughly ten in Durham.

However, Higharc was established as a remote-friendly business and now maintains offices in Atlanta and San Francisco.