The Home Improvement Platform Porch Purchased Four New Companies
Daniel Johnson — January 15, 2021 — Business
References: porch & techcrunch
Porch, the home improvement platform acquired four new companies shortly after its Initial Public Offering and merger with a special purpose acquisition, or SPAC, company.
One of the companies that was recently acquired by the home improvement platform is named Homeowners of America, which was purchased for $100 million. This acquisition will increase Porch's presence in the home insurance market. Another of the acquisitions is a company named V12, which was purchased for $22 million, and is a marketing and data platform for movers. The other purchases were two home inspection companies named Palm-Tech and iRoofing, and neither purchase price was publicly disclosed.
“In total, we had a $323 million fundraise that allows us now to not only be a public company with public currency, but to be very well capitalized," said Matt Ehrlichman, the Porch CEO.
One of the companies that was recently acquired by the home improvement platform is named Homeowners of America, which was purchased for $100 million. This acquisition will increase Porch's presence in the home insurance market. Another of the acquisitions is a company named V12, which was purchased for $22 million, and is a marketing and data platform for movers. The other purchases were two home inspection companies named Palm-Tech and iRoofing, and neither purchase price was publicly disclosed.
“In total, we had a $323 million fundraise that allows us now to not only be a public company with public currency, but to be very well capitalized," said Matt Ehrlichman, the Porch CEO.
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