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Google, Home Depot back building modeling, exterior visualization technology

Sources: Hover, San Francisco; CP staff

GV (formerly Google Ventures) and Home Depot have led a $25 million funding round for Hover, whose technology generates interactive 3D models of any property using smartphone camera-derived image files.

The platform, Hover officials contend, is a) revolutionizing how home improvement projects are estimated and sold; b) saving exterior contractors time and money on every project, and helping them close more business; c) affording homeowners simple interface and in-depth design features so they can comprehensively visualize their exterior projects; and, d) providing insurance industry users up-to-date property measurements to reduce claim adjusting costs.

"Americans spent well over $300 billion on home remodeling last year, yet when it comes to the most important and fundamental part of the process-getting estimates to make an informed decision-homeowners are still subjected to the same process their grandparents went through: relying on measuring tape, handshakes, eye-balled estimations, and a whole lot of patience," says Hover founder and CEO A.J. Altman.

"The power of Hover's technology is in the great experience it creates for our customers when making a major investment in their home," notes Home Depot Home Services Senior Vice President Kelly Barrett. "Hover gives them confidence in their decision-making because they can visualize the finished project at the same time we give them an estimate."

"Many people are familiar with computer vision and deep learning only as abstract technical concepts," adds GV General Partner Tyson Clark. "Hover's platform is taking this technology and applying it in a practical, useful way to people's lives."