Technology-enabled home building company Veev announced a $400 million Series D funding round led by BOND, with participation from LenX, Zeev Ventures, Fifth Wall Climate Tech, and JLL Spark Global Ventures. The capital will allow Veev to scale its operations, expand construction and distribution to new markets, and accelerate research and development initiatives that will make Veev homes more sustainable and cost-efficient, according to the company.
Veev is a vertically integrated company taking a technological path to building turnkey homes. The Veev system leverages a proprietary panelized approach to produce fully cladded walls, complete with mechanical, electrical, and plumbing. The pre-inspected walls are delivered to the site ready for installation using the company’s plug and play system.
According to Veev, homes built by the company are completed four times faster than the construction industry standard, bringing down building costs. Veev also says its material selection has resulted in 47% less carbon dioxide emissions than traditional construction materials. Veev has a 2022 goal to further reduce the carbon footprint of its homes by an additional 25%.
“Veev reimagined the entire home building process by thinking about the home-as-a-product—the ultimate consumer product,” says Veev CEO and co-founder Amit Haller. “By rethinking every element of the home, including design, materials, and the built environment, and fully integrating the home building process from start to finish, we have managed to produce homes at a quality, speed, value, and sustainability that is unseen in the industry—until now.”
Veev recently completed a 78-unit emergency housing development in San Jose, California, in 90 days. In November, the company announced a partnership with Lennar to build 102 attached homes in Northern California.
