InspectionGo (iGo) Announces $5.5 Million Series A and the Acquisitions of Repair Pricer and HomeBinder
Transactions allow iGo to build next-generation platform for home inspectors to unlock the full value of inspections for homeowners and single-family investors
TYRONE, Pa., (July 19, 2023) – InspectionGo (iGo), the leading provider of cutting-edge technology and services that helps independent home inspection companies be successful by unlocking the full value of home inspections for homeowners and real estate investors, today announced it has closed a $5.5 million Series A funding round. The company also announced the strategic acquisitions of Repair Pricer and HomeBinder, moving iGo closer to its vision of providing home inspectors with a seamless platform to manage their business and extending the value of a home inspection throughout home ownership.
The Series A was led by existing investor Wasatch Equity Partners. The acquisitions were all-stock transactions, reinforcing the confidence of Repair Pricer and HomeBinder’s investors in the partnership iGo has forged with the inspector community and the company’s long-term vision.
In addition to enhancing iGo’s service offerings to its growing community of home inspectors who perform an estimated one million home inspections annually, the capital raise and acquisitions will bring hundreds of jobs to Central Pennsylvania by 2026.
“We are thrilled to welcome Repair Pricer and HomeBinder to the iGo family. The addition of their product offerings accelerates our strategy of giving the inspection community the ability to provide homeowners with valuable tools for managing their home for as long as they own it,” iGo Co-Founder and CEO John Russell said.
Russell added, “We also couldn’t be more appreciative of the confidence that Wasatch and our other investors have placed in us. They not only share our vision for giving home inspection a new meaning, but they also are committed to bringing more employment and economic opportunities to our local community and putting Tyrone on the map as an emerging tech hub.”
Repair Pricer leverages artificial intelligence and national language processing to turn any inspection report into an accurate home repair estimate. Since 2016, homeowners in nearly 42,000 ZIP codes throughout the U.S. have used Repair Pricer to generate more than 1.1 million home repair estimates to gain assurance they are receiving a fair price on their home purchase.
Offered by a network of 9,000 professionals to more than 950,000 homeowners nationwide, HomeBinder is aresidential home management platform that allows homeowners to manage their home at their fingertips. With HomeBinder, homeowners have a centralized location to store valuable home documents, set up home improvement projects and maintenance reminders, stay up to date on appliance recalls, access a network of recommended service providers and maintain records of their single largest asset.
As part of the acquisitions, iGo strengthened its leadership team. Repair Pricer CEO Christian Adams will serve as iGo’s Chief Revenue Officer and Jack Huntress, CEO of HomeBinder, joins the company as Head of Consumer Products. Both are newly created positions.
Since its founding in 2019, iGo has focused on building a community that empowers inspectors to operate more efficiently while ensuring that they offer buyers and their agents a better experience. The acquisitions of Repair Pricer and HomeBinder add to iGo’s comprehensive suite of existing solutions. These offerings include Keystone, a plug and play back-office platform; access to coaching, marketing and management resources through the iGo Community; and iGo Academy, which provides a steady stream of highly trained home inspectors to the inspector community.
“With this new series of funding we are unlocking new opportunities to impact a growing market in a unique way. Through these newly announced strategic acquisitions we anticipate an offering of services like never before seen in the space that captures AI technology and tools that brings home inspection services to the forefront of innovation for homeowners. Our commitment to the growth and future of the business remains stronger than ever, “Scott Stettler, Managing Director, Wasatch Equity Partners said.
The Series A raise brings iGo’s total funding to $10.3 million. In addition to Wasatch, Ben Franklin Technology Partners, Allegheny Angel Fund, The West Virginia Jobs Investment Trust, Twenty Five Ventures, Mountain State Capital, and Hamilton Ventures have shown their commitment to iGo through early stage investments.Like Wasatch, they share iGo’s commitment to creating opportunities for underserved communities by bringing technology-based companies to the region.
About Wasatch Equity Partners
Wasatch Equity Partners, a subsidiary of The Wasatch Group, specializes in identifying and investing in high-growth companies across key market verticals. Wasatch Equity Partners delivers results driven impact through strategic advisement and a proven record of performance. With integrated specialty support through Finance, Marketing, HR, Tax and Legal, WEP brings an innovative and comprehensive approach to their diverse investment portfolio. Bringing over 30 years of combined experience and with over $4 Billion AUM, WEP is uniquely positioned to drive growth and strategic alignment that has driven results for both investors and companies. Wasatch Equity Partners is located in Logan, Utah with a portfolio expanding the industries of PropTech, Medical, Energy, CPG and more.
About InspectionGo (iGo)
Founded in Tyrone, Pa. in 2019, iGo is on a mission to revolutionize the home inspection experience by uniting and equipping the community of home inspection companies with a modern technology platform. Through strategic investments and acquisitions, iGo empowers home inspectors to deliver exceptional customer experiences and become industry leaders. Learn more at inspectiongo.com
Janice McDill
InspectionGo Public Relations
janice@jmcdillcommunications.com
