RenoRun Funding, Investors & Competitors

RenoRun has raised $163M across 4 funding rounds, most recently a $142M Series B in February 2022.

Last RenoRun funding round

$142M

Series B · Feb 2022

Cumulative funding RenoRun raised

$163M

across 4 funding rounds

Key investors in RenoRun

  • Real Ventures
  • ScaleUP Ventures
  • Tiger Global
  • BDC Capital
  • Inovia Capital
  • Silicon Valley Bank
  • Investissement Quebec
  • Fifth Wall

RenoRun Overview

About RenoRun

RenoRun is a Montreal-headquartered platform supplying construction materials to general contractors across Canada and the U.S. Founded in 2016, it operates warehouses in Toronto and Austin, dispatching runners to source and deliver lumber, drywall, concrete, and fixtures to job sites. The mobile app serves 5,000+ projects monthly, reducing procurement time for high-rise builds and renovations.


Founded

2016

HQ

CanadaMontreal

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

RenoRun Funding History

RenoRun has raised a total of $163M across 4 funding rounds.

RenoRun's first fundraising round was a $1M pre-seed round in November 2017. The most recent completed round was a $142M Series B in February 2022.

RenoRun funding rounds

RenoRun funding rounds
DateStageInvestorsRaisedDeal Summary
Feb 2022Series BSozo Ventures (lead); Tiger Global (lead); Export Development Canada; Fifth Wall; TriplePoint Capital; BDC Capital; Desjardins Venture Capital; Nicola Wealth Management; SE Ventures; Investissement Quebec; Counterpart Advisors$142MRenoRun is a Canadian proptech e-commerce construction platform founded in 2017 by Eamonn O'Rourke and Joelle Chartrand that streamlines material procurement for contractors and their employees. The platform addresses the inefficiency of construction workers spending excessive time away from job sites sourcing materials, positioning itself as a contractor-centric brand to help business owners scale their operations. In February/March 2022, RenoRun raised $142 million in Series B funding co-led by Tiger Global Management and Sozo Ventures, marking the fourth largest Series B in Canadian history and a significant increase from its $17.1 million Series A in November 2019. The round included participation from Investissement Quebec, SE Ventures, Fifth Wall, BDC Capital, Export Development Canada, TriplePoint Capital, and others, with executives from GGV, Opendoor, Sonder, and GoodFood founders joining as strategic investors. At the time of the Series B, RenoRun operated in six markets: Boston, Chicago, Philadelphia, Washington D.C., Toronto, and Montreal, with plans to expand across additional U.S. and Canadian regions using the fresh capital. However, the company ceased operations in 2023, making it a notable example of a well-funded construction tech venture that ultimately did not sustain operations despite significant institutional backing.
Nov 2019Series AInovia Capital (lead); Obvious Ventures (lead); ScaleUP Ventures; Maple VC; Real Ventures; Silicon Valley Bank$17MRenoRun is a technology-enabled construction material delivery service operating in cities like Toronto, Montreal, and Austin, Texas, founded in 2017 to provide fast jobsite deliveries and digitize the construction industry. The company secured a CA$22.5 million Series A round on November 4, 2019, co-led by Inovia Capital and Obvious Ventures, with participation from ScaleUp Ventures, Real Ventures, Maple VC, and Silicon Valley Bank. This followed a $3 million seed round earlier in 2019 led by Real Ventures. The Series A funding aimed to scale operations in existing cities and support rapid employee growth from 7 to 90 in 10 months, amid over 300% customer growth in the prior 12 months. RenoRun reported $3 million in revenue in 2019. The platform positioned itself as a fundamental layer in builders' technology stacks to improve productivity, efficiency, and costs in construction. RenoRun experienced explosive growth post-2019, with revenues reaching $36 million two years later and peaking at around $10 million monthly by mid-2022, targeting $120 million for that year, though sales tripled annually from 2018 to 2021 before financial difficulties led to insolvency proceedings in 2023.
Feb 2019SeedReal Ventures (lead); ScaleUP Ventures (lead)$3MRenoRun raised a $3 million seed round led by Real Ventures with participation from ScaleUP Ventures in July 2018. The company, founded in 2017, provides a technology-enabled platform for on-demand construction material delivery to job sites in cities including Toronto, Montreal, and Austin, Texas. This seed funding preceded RenoRun's $22.5 million CAD Series A round in November 2019, co-led by Inovia Capital and Obvious Ventures, with participation from ScaleUp Ventures, Real Ventures, Maple VC, and Silicon Valley Bank.
Nov 2017Pre-seed-$1M-

Who has invested in RenoRun?

17 investors have backed RenoRun across its funding rounds, including Real Ventures, ScaleUP Ventures, Tiger Global, BDC Capital, Inovia Capital and Silicon Valley Bank.

Lead investors include Sozo Ventures, Tiger Global, Inovia Capital, Obvious Ventures, Real Ventures and 1 other investor.


RenoRun Investors

Investors in RenoRun by funding rounds participated
InvestorHQRoundsRoleFirst check
ScaleUP VenturesCanadaToronto2LeadFeb 2019
Real VenturesCanadaMontreal2LeadFeb 2019
Sozo VenturesUnited StatesSan Francisco, CA1LeadFeb 2022
Export Development CanadaCanadaOttawa1ParticipantFeb 2022
Maple VCUnited StatesSan Francisco, CA1ParticipantNov 2019
Obvious VenturesUnited StatesSan Francisco, CA1LeadNov 2019
Fifth WallUnited StatesLos Angeles, CA1ParticipantFeb 2022
TriplePoint CapitalUnited StatesSan Francisco, CA1ParticipantFeb 2022
Inovia CapitalCanadaMontreal1LeadNov 2019
Tiger GlobalUnited StatesNew York City, NY1LeadFeb 2022
Silicon Valley BankUnited StatesSan Jose, CA1ParticipantNov 2019
BDC CapitalCanadaMontreal1ParticipantFeb 2022
Desjardins Venture CapitalCanadaQuebec City1ParticipantFeb 2022

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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RenoRun Competitors

RenoRun competitors include listed companies like Copart and RB Global, and private ones like Faire, OfBusiness, Zetwerk and Inxeption.

Public and private companies comparable to RenoRun
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CopartUnited StatesUnited StatesPublicly listed$4.6B$1.9B$27B4.9x
RB GlobalUnited StatesUnited StatesPublicly listed$4.6B$1.4B$16B4.1x
FaireUnited StatesSan Francisco, CAPrivate$500M-$5.2B10.4x
OfBusinessIndiaGurgaonPrivate$2.1B-$4B1.9x
ZetwerkIndiaBangalorePrivate$102M$20M$3.1B-
InxeptionUnited StatesUnited StatesPrivate$300M-$3B10.0x

RenoRun Public Comps

RenoRun is still privately-owned, but its public comps include Recruit Holdings, Uber, Booking Holdings, Airbnb, Prosus, DoorDash, Carvana, Meituan, Rocket Companies and Expedia.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Recruit Holdings$24B$4B6.4x6.0x37.9x25.2x
Uber$52B$6.2B3.0x2.8x24.9x14.6x
Booking Holdings$27B$8.3B4.9x4.6x15.9x12.4x
Airbnb$12B$2.4B7.2x6.5x36.3x18.2x
Prosus$9.7B$1.1B9.1x8.0x83.8x123.7x
DoorDash$14B$1.5B6.0x4.9x55.8x23.7x
Carvana$20B($110M)3.7x2.9x(691.4x)27.7x
Meituan$54B($2.2B)0.9x0.8x(21.4x)162.4x

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Common questions about RenoRun

When was RenoRun founded?RenoRun was founded in 2016.
Where is RenoRun headquartered?RenoRun is headquartered in Montreal, Canada.
Is RenoRun publicly listed?No, RenoRun is a private, VC-backed company.
How much funding has RenoRun raised?RenoRun has raised $163M across 4 funding rounds.
What was RenoRun's last funding round?RenoRun's last funding round was a $142M Series B in February 2022, led by Sozo Ventures and Tiger Global.
Who are RenoRun's investors?RenoRun's investors include ScaleUP Ventures, Real Ventures, Sozo Ventures, Export Development Canada, Maple VC, Obvious Ventures, Fifth Wall, TriplePoint Capital, Inovia Capital, Tiger Global and 7 others.
Which companies are comparable to RenoRun?Companies comparable to RenoRun include Copart, RB Global, Faire, OfBusiness, Zetwerk and Inxeption.

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