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- Hover
Hover Revenue, Valuation, Funding & Investors
Hover is valued at $490M as of November 2020, a 7.0x multiple on its last reported $70M revenue.
Last Hover valuation
$490M
Series D · Nov 2020
Last Hover funding round
$60M
Series D · Nov 2020
Hover revenue
$70M
Series D · Nov 2020
Key investors in Hover
GV
Standard Industries
Menlo Ventures
Alsop Louie Partners
Home Depot
Almaz Capital
About Hover
Hover is a San Francisco-headquartered proptech company that generates interactive 3D models of properties from smartphone photos. Homeowners visualize remodeling options, contractors produce precise measurements for quotes, and insurance adjusters assess damage claims. The AI-powered platform delivers fully measured models in minutes for roofs, exteriors, and interiors used by professionals throughout North America.
Founded
2011
HQ
Website
Status
Privately held
Customer focus
B2B & B2C
Revenue model
Subscription
Revenue
$70M (Nov 2020)
Valuation
$490M (Nov 2020)
Hover Valuation
Hover is currently valued at $490M, based on its Series D in November 2020.
The $60M round was led by Nationwide Mutual Insurance, State Farm Ventures and Travelers, with participation from Menlo Ventures, GV, Alsop Louie Partners, Guidewire, Standard Industries and 2 other investors.
Hover valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Nov 2020 | Series D | $490M | 7.0x |
Hover Revenue
Hover's latest recorded revenue is $70M, as of its Series D in November 2020. At a $490M valuation, that implies a 7.0x revenue multiple.
Hover revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Nov 2020 | $70M | $490M | 7.0x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Hover Funding History
Hover has raised a total of $124M across 6 funding rounds.
Hover's first fundraising round was a $3M Series A in March 2013. The most recent completed round was a $60M Series D in November 2020.
Hover funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2020 | Series D | Nationwide Mutual Insurance (lead); State Farm Ventures (lead); Travelers (lead); Menlo Ventures; GV; Alsop Louie Partners; Guidewire; Standard Industries; M2O; FinSight Ventures | $60M | $490M | Hover is a San Francisco-based technology company founded in 2011 that provides an end-to-end data platform using computer vision and machine learning to generate 3D models of properties from smartphone photos. These models enable workflows for home improvement professionals, contractors, and insurance companies, facilitating property assessment, repair estimation, interactive design, and materials ordering. The platform targets the property insurance and $50 billion exterior building materials markets, with partnerships including SRS Distribution and Beacon Roofing Supply. On November 17, 2020, Hover raised $60 million in a Series D funding round led by Nationwide Mutual Insurance, State Farm Ventures, and Travelers, with participation from Alsop Louie Partners, FinSight Ventures (via Guidewire Software), GV, Menlo Ventures, Standard Industries, and others. This brought total funding to over $142 million, up from $147 million per PRNewswire. The post-money valuation reached $490 million, a jump from the prior Series C valuation of $280 million in 2019. The round reflects strong strategic interest from insurance giants amid resilient U.S. property market demand during the pandemic. Hover reported 2016 revenues of $1 million and expected north of $70 million annual run rate in 2020, driven by insurance and enterprise partners. Funds will enhance the 3D platform, expand e-commerce, and scale operations while prioritizing company culture. |
| Apr 2019 | Series C | Menlo Ventures (lead); GV; Standard Industries | $25M | - | Hover is a San Francisco-based company founded in 2011 that uses computer vision and deep learning to transform smartphone photos of homes into accurate, interactive 3D property models, enabling precise measurements, home design visualization, material purchasing, and streamlining processes for homeowners, contractors, insurers, and home improvement projects in the $200+ billion global exterior renovation industry. The platform partners with major players like The Home Depot, GAF (world's largest roofing manufacturer), Beacon, and five of the top 10 U.S. insurance carriers to reduce claim adjusting costs and improve customer experiences. Thousands of users represent tens of thousands of home improvement companies using Hover. On April 25, 2019, Hover closed a $25 million Series C funding round led by Menlo Ventures, with participation from GV (formerly Google Ventures) and Standard Industries, bringing total funding to $87 million. Menlo Ventures partner Matt Murphy joined the board. This followed a $25 million Series B in January 2018 led by GV with Standard Industries and Home Depot, a $6 million Series A in 2015 led by Alsop Louie Partners, and $14 million from undisclosed investors in 2016. The Series C funds aimed to expand the team after doubling headcount in the prior eight months and fuel the first digital marketplace for renovations, targeting ecommerce disruption in home improvement. By 2020, annual run rate exceeded $70 million (from $1 million in 2016), with ~220 employees planning to double, 10,000 contractors, and focus on quote-to-cash workflows and insurance claims. |
| Jan 2018 | Series B | GV (lead); Home Depot (lead) | $25M | - | Hover is a San Francisco-based computer vision startup that enables users to create accurate 3D models of their homes from smartphone photos, facilitating home improvement projects by providing precise measurements, design visualizations, and connections to contractors. The platform targets the exterior renovation industry, allowing homeowners to customize models with new materials like siding or windows and receive quotes from professionals. Hover's Hover Connect product helps contractors generate leads and track homeowner progress in creating models. On January 29, 2018, Hover announced a $25 million Series B funding round led by GV (formerly Google Ventures), with participation from The Home Depot and Standard Industries, bringing total funding to over $56 million at that point. Standard Industries, through its GAF roofing business, had partnered with Hover for two years prior, integrating the technology with certified contractors. The Home Depot joined as both investor and strategic partner to enhance services like home improvement estimates with 3D visualizations. Funding proceeds were allocated to research and development in computer vision and deep learning, product expansion into core and adjacent markets, and growth of sales and marketing efforts. The round positioned Hover to scale its platform amid a shift toward digital tools in the $200+ billion global exterior renovation sector, competing with opaque traditional processes by enabling e-commerce for large projects. Later developments included a $25 million Series C in April 2019 led by Menlo Ventures, raising total funding to $87 million, and a $60 million Series D in November 2020 with a post-money valuation of $489.15 million. Partners expanded to include Beacon and insurers using Hover for claims processing, underscoring its role as a 3D data standard for homeowners, contractors, manufacturers, and insurers. |
| Nov 2015 | Series A | Alsop Louie Partners (lead); Assets New Ventures; GV; Home Depot; Standard Industries; Almaz Capital; Maverick Alternative | $6M | - | - |
| Nov 2013 | Series A | - | $5M | - | - |
| Mar 2013 | Series A | - | $3M | - | - |
Who has invested in Hover?
14 investors have backed Hover across its funding rounds, including GV, Standard Industries, Menlo Ventures, Alsop Louie Partners, Home Depot and Almaz Capital.
Lead investors include Nationwide Mutual Insurance, State Farm Ventures, Travelers, Menlo Ventures, GV and 2 other investors.
Hover Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Nov 2015 | ||
| 3 | Participant | Nov 2015 | ||
| 2 | Lead | Apr 2019 | ||
| 2 | Lead | Nov 2015 | ||
| 2 | Lead | Nov 2015 | ||
| -- | 1 | Participant | Nov 2015 | |
| 1 | Lead | Nov 2020 | ||
| 1 | Lead | Nov 2020 | ||
| 1 | Lead | Nov 2020 | ||
| 1 | Participant | Nov 2020 | ||
| 1 | Participant | Nov 2020 | ||
| 1 | Participant | Nov 2020 | ||
This data is available for Pro users. Sign up to see all 14 Hover investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialHover Competitors
Hover competitors include listed companies like Wiseway Group and Real Brokerage, and private ones like VergeSense, DoorLoop, PermitFlow and Sanas.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $500M | - | ||
| Publicly listed | $132M | $9M | $32M | - | ||
| Private | - | - | $500M | - | ||
| Private | - | - | $500M | - | ||
| Private | $50M | - | $500M | 10.0x | ||
| Publicly listed | $2B | ($6M) | $638M | 0.2x |
Hover Public Comps
Hover is still privately-owned, but its public comps include Beijing Hanyi Innovation, ExaWizards, Ropeok Technology Group, PKSHA Technology, Datasection, Reconova Technologies, Real Brokerage, Vrain Solution, Coveo Solutions and Eleco.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $28M | $5M | 15.6x | 13.9x | 89.9x | 50.9x | |||
| $77M | $13M | 6.6x | 5.7x | 39.3x | - | |||
| $23M | ($28M) | 18.6x | - | (15.2x) | - | |||
| $140M | $47M | 4.1x | 2.4x | 12.2x | 10.7x | |||
| $216M | $27M | 1.6x | 1.6x | 12.7x | 13.0x | |||
| $66M | ($8M) | 10.0x | - | (82.0x) | - | |||
| $2B | ($6M) | 0.3x | 0.2x | (87.2x) | 6.6x | |||
| $21M | $6M | 14.5x | 11.5x | 49.0x | - | |||
This data is available for Pro users. Sign up to see all Hover competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Hover
| When was Hover founded? | Hover was founded in 2011. |
| Where is Hover headquartered? | Hover is headquartered in San Francisco, CA, United States. |
| Is Hover publicly listed? | No, Hover is a private, VC-backed company. |
| What is Hover's valuation? | Hover was last valued at $490M in its Series D in November 2020. |
| How much funding has Hover raised? | Hover has raised $124M across 6 funding rounds. |
| What was Hover's last funding round? | Hover's last funding round was a $60M Series D in November 2020, led by Nationwide Mutual Insurance, State Farm Ventures and Travelers. |
| Who are Hover's investors? | Hover's investors include GV, Standard Industries, Menlo Ventures, Home Depot, Alsop Louie Partners, Assets New Ventures, Nationwide Mutual Insurance, Travelers, State Farm Ventures, Guidewire and 4 others. |
| What is Hover's revenue? | Hover's latest recorded revenue is $70M (November 2020). |
| What is Hover's revenue multiple? | Hover's latest valuation implies a 7.0x revenue multiple ($490M valuation on $70M of revenue). |
| Which companies are comparable to Hover? | Companies comparable to Hover include VergeSense, Wiseway Group, DoorLoop, PermitFlow, Sanas and Real Brokerage. |
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