Beringea U.S. invests in homebuilder metrics provider Avid Ratings’ $6 million Series A round
September 4th 2018
Avid Ratings helps homebuilders improve customer experiences by gaining insights through its proprietary platform.
(Farmington Hills, MI)— Beringea, a global private equity firm providing growth capital to high potential businesses, co-led a $6 million Series A investment round in Wisconsin-based Avid Ratings. The company is North America’s industry leader in measuring home construction quality and creating exceptional customer experiences. The funds will help the company expand its workforce and bolster capabilities that support homebuilders nationwide with customer experience (CX) tools and technology. The company also plans to enhance and redesign its customer survey platform to provide homebuilders with innovative ways to capture CX.
“We are excited to share the news of our ongoing growth at Avid Ratings,” said Paul Cardis, Founder and Chief Executive Officer at Avid. “This new investment will help Avid become the leading resource for measuring building quality and maximizing home buyer satisfaction across North America.”
“The addition of these new capabilities will help builders be more competitive by responding to customer feedback faster and smarter,” said Aaron Everson, president at Avid Ratings. “We anticipate many new customers with the improvements and expansion of our AvidCX suite of customer experience tools. We look forward to the continued support of over 1,000 builder divisions across North America who already know how our products have boosted customer loyalty and increased closing rates for their sales teams.”
William Blake at Beringea said: “The housing market lacks good data collection methods throughout its supply chain, and that lack of visibility can negatively influence important buying decisions. Avid Ratings has become a trusted source of unique feedback regarding all aspects of homebuilding, and it’s well positioned to bridge these information gaps and power new home purchasing in this already-strong market.”