# Cover Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cover-technologies

- Industry: Software
- Headquarters: Gardena, US
- Website: www.buildcover.com
- Total disclosed funding: $68M
- Latest round: Series B (Oct 28, 2021)
- Investors on record: 8

## About

Cover Technologies, Inc. is a construction firm specializing in custom all-steel homes designed for fire resilience, with a strong emphasis on safety, sustainability, and rapid build times.Founded in 2014 and headquartered in Gardena, US, Cover Technologies, Inc. designs and builds custom steel homes, focusing on fire rebuilding projects. The company has raised USD 56.80 mn in Series B funding, led by Gigafund, with participation from several notable investors. The firm has completed a total of 4 funding deals, the most recent being on October 28, 2021. The founders, Alexis Rivas and Jemuel Joseph, have successfully led the company through its growth phases, establishing a strong foothold in the market for fire-resistant housing.Cover Technologies, Inc. specializes in the design and construction of custom, all-steel homes, particularly for fire rebuilds. Their offerings include architect-grade living spaces that prioritize natural light and connection to the outdoors through large glass features. These homes are built with durable steel to ensure safety and longevity, focusing on hygienic materials to enhance comfort for inhabitants. Cover serves primarily homeowners in wildfire-prone areas across various states in the Western United States, aiming to provide a streamlined building experience.Cover Technologies, Inc. operates a direct-to-consumer revenue model, catering to individuals and families interested in custom homes. Customers engage in a structured process that includes an initial consultation, site assessment, and tailored design and construction phases. Their pricing structure is tiered based on project complexity, incorporating upfront payments and milestone-based billing, reflecting the company’s focus on quality and efficiency in homebuilding.In October 2021, Cover Technologies, Inc. raised USD 56.80 mn in Series B funding, which will be utilized to expand operations with a new 100,000 square foot factory dedicated to producing more modular building panels. The company aims to enhance its production capacity to meet increasing demand while continuing to build its team. This strategic move is set to bolster their presence in the fire-resistant housing market, allowing Cover to better serve their clientele.

## Funding rounds

- Series B, Oct 28, 2021, $57M — General Catalyst Partners, Valor Equity Partners, Founders Fund, Gigafund, Fifty Years
- Series A, Jul 28, 2020, $10M — General Catalyst Partners, Valor Equity Partners, Founders Fund, Khosla Ventures, Lennar Corporation, Fifty Years
- Seed, Apr 19, 2019 — Fifty Years
- Seed, May 9, 2017, $1.6M — General Catalyst Partners, Khosla Ventures, Hyperspeed Ventures, Fifty Years

## Investors

- General Catalyst Partners (https://capitalatlas.ai/funds/general-catalyst-partners) — Seed, Series A, Series B
- Khosla Ventures (https://capitalatlas.ai/funds/khosla-ventures) — Seed, Series A
- Hyperspeed Ventures (https://capitalatlas.ai/funds/hyperspeed-ventures) — Seed
- Fifty Years (https://capitalatlas.ai/funds/fifty-years) — Seed, Series A, Series B
- Valor Equity Partners (https://capitalatlas.ai/funds/valor-equity-partners) — Series A, Series B
- Founders Fund (https://capitalatlas.ai/funds/founders-fund) — Series A, Series B
- Lennar Corporation — Series A
- Gigafund (https://capitalatlas.ai/funds/gigafund) — Series B