Blu Homes Gains $65M In New Financing

Blu Homes recently shared some remarkably great news as they put up their latest funding round coming up to a total of $65 million. This particular investment was also participated in by the company’s previous investors.

The company’s head of PR, Dana Smith of Dadascope, Inc. shares more about the company and their recent funding in this e-interview with Lead411:

Who are your competitors and how are you different from them?

Some other prefab companies working with more modern and eco designs include Connect:Homes and Method Homes.

Four key elements set Blu apart from other modern prefab builders:

  • An A-to-Z homebuilding solution with a simpler, more streamlined process, impeccable customer service and guaranteed fixed costs          -Clients work with dedicated Blu representatives who manage all aspects of design, engineering, factory construction,project management,shipping, setting and finishing. -Land search and development partners                                                                                                    -Architect-designed homes.                                                             -Fixed price includes design services. -A shortened building timeframe with greatly streamlined on-site construction time. -The option of having Blu Homes manage all aspects of the homebuilding process with the introduction of BluServ™ Plus, Start to Finish Project Management Services.
  • Enduring quality powered by state-of-the-art building science and American craftsmanship                                                                                                                         -State-of-the-art factory – All homes are built in our own state-of-the-art factory by our own team of craftspeople, who then deliver and finish the homes on site -Steel construction – Homes with enduring strength and quality can be built anywhere in the U.S., including destinations with the harshest weather, wind, and seismic conditions             -Energy-efficient and environmentally responsible building materials
  • The ability to deliver our homes anywhere in the U.S., including Hawaii -Blu’s advanced building envelope, sturdy steel frame design and efficient folding technology allow our homes to fit onto a standard truck for cross country shipping after being fully built in our climate-controlled factory. Once a home arrives at its destination, it actually “unfolds” before the client’s eyes.
  • Beautiful, more spacious, architect-designed homes

Homes can unfold to reveal living spaces up to 25-feet-wide with 16-foot-high ceilings and beautiful glass windows that bring in natural daylight. By placing modules together, we can achieve widths of up to 34 feet.

What do you plan on spending your new funding on?

One of the strategic uses of the funding is to make capital investment focused on building a series of 15-20 display homes in key markets across the United States. The first two display homes, which will open for tours in Los Angeles and the San Francisco Bay Area’s Mare Island later this year, are currently being built in Blu Homes’ factory. Display homes are also slated for Silicon Valley, Seattle, Denver, New York and Boston — all areas where Blu currently has a full-time staff. Additional markets will continue to be announced over the coming months.

How many people does your company employ?

Blu employs 229 people, including 122 in our Vallejo factory.

When were you founded?

Blu Homes launched in 2008. Blu’s co-founders, Bill Haney and Maura McCarthy, both have a deep interest in reducing the carbon footprint of American homes and making the home-buying process easier and more convenient.

Blu Homes is the result of a two year study that Bill Haney conducted with the Rhode Island School of Design, looking at how technology could be used to improve the health, economics, design experience and environmental effect of housing on American families.

How much did your revenue increase yearly (if any)?

We aren’t able to share revenues as a private company. However, we are in the midst of hiring a big-four accounting firm to conduct our first audit of financial statements. What I can tell you is that from 2011 to 2012, Blu Homes’ bookings grew 400% year-over-year, reaching $40 million in 2012.

Want to learn more about their recent funding? You can read more about it in this news release.

About Christine Guinto

Christine Guinto is our part-time writer for the Lead411 Blog. She specializes in our funding news. You can contact her at christine [at] Christine Amos on Google+!