In October 2015, Denver-based HomeSphere secured financing and completed a management buyout, giving the company new ownership and elevating Glenn Renner to president and CEO.
About a year later, the company, which provides a digital B2B lead generation and customer retention platform for businesses in the home building industry, started attracting capital investors. Earlier this week, a Dallas-based private equity firm, Teakwood Capital, made a growth capital investment in HomeSphere.
In a release announcing the deal, HomeSphere touted the investment as a way to leverage Teakwood’s “operational and technology development capabilities to further expand its sales, marketing, and market intelligence products, delivering significant return on investment to its customers.”
HomeSphere hosts a digital community of nearly 1,900 local and regional home builders and 55 national building product manufacturers representing 80 brands.
“Our team is excited about the great opportunities that lie ahead given this investment by Teakwood,” said Renner, in a release. “We see a bright future for our company, and most importantly, significant value for our customers – builders, manufacturers, and distributors.”
HomeSphere aims to strengthen the connection between distributors and their builders. It provides builders with access to exclusive rebate opportunities previously available only to the largest national builders and offers manufacturers’ sales teams a strategy for developing targeted leads among local builders.
“Colorado is a strong and growing technology center, and we are pleased to have identified a solid investment opportunity in HomeSphere,” said Shawn Kelly, managing director at Teakwood, in a release. “The HomeSphere team has done a superior job developing its service platform and delivering strong returns for customers, and Teakwood looks forward to bringing its operational and strategic expertise as we work alongside them to further company growth and client value.”
