The market for home improvement and other home services is enormous, with consumer spending on professional home improvement alone estimated at more than
Modernize Home Services' vision is to solve problems on both sides of the market and simplify the process; the business brings unprecedented depth, capabilities and reach to do so. Modernize Home Services will initially operate in more than 15 high-value, high-consideration home segments, including new and replacement windows, solar installation, roofing, heating and air conditioning, siding, bathrooms and kitchens, new and replacement gutters, home security, and more. The business brings a network of more than 1,000 contractors and providers across all segments, offering broad geographical coverage and choice for homeowners. Modernize Home Services also has extensive marketing and reach in digital media through
Modernize Home Services enables homeowners to be matched with up to four home service providers based on their unique project requirements and location. Homeowners receive access to a resource center with aggregated and verified project reviews related to contractors as well as information on accreditations,
Likewise,
"Modernize has developed a highly-recognizable brand and deep relationships with contractors in select segments of the home improvement ecosystem," notes
"Home improvement and related home services represents an enormous addressable market opportunity for
The consideration paid for the acquisition totaled
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