Atmos Raises $12.5 Million in Series a Financing; Plans to Build Out its Marketplace

The human arsenal is very well-known for possessing some really valuable traits, and it doesn’t have anything more valuable than that tendency of ours to grow on a consistent basis. This tendency, in particular, has allowed us to hit upon some huge milestones, with technology appearing as a unique member of the stated squad. The reason why technology’s credentials are so anomalous is largely because of its skill-set, which realized all the possibilities for us that nobody could have ever imagined otherwise., Nevertheless, if we look beyond the surface, it should become clear how the whole runner was also very much inspired by the way we applied those skills across a real-world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. This revolution, as we eventually discovered, will go on to scale up the human experience from every conceivable direction, but even after achieving such a monumental feat, technology will somehow keep on bringing all the right goods to the table. The same has only turned more and more evident over the recent past, and truth be told, a new funding does a lot to make that trend bigger and better moving forward.

Atmos, a startup which has built an online marketplace that teams up homebuyers with builders and land developers to design and build custom homes, has successfully secured over $12.5 million in Series A financing. Led by Khosla Ventures, the round saw further participation coming from the likes of Bedrock, JLL Spark, YC, Sam Altman (CEO of Open AI), real estate brokerage Keller Williams, Duke Angel Network, Stephen Pagliuca (Co-Chairman of Bain Capital), Dylan Field (CEO and co-founder of Figma), and more. According to certain reports, the company will use the newly-raised cash to build out its in-house marketplace. Founded back in 2018, Atmos started out with an intention to help homebuyers in customizing their dream house, while also giving builders a ready-to-go buyer in what is a pretty uncertain market. Going by the company’s word, it lets the buyer see “exactly what can be built on any specific lot depending on the size, shape and development requirements.” Fair enough, Atmos’ platform kicks off the whole operation by guiding the buyer through a personalization survey and a soil test. Once it has gauged the individual needs, the technology then moves on to designing your dream home. With the design locked-in, the next step is, of course, to find a suitable builder and initiate the construction.

“We’re more design-oriented, and focus more on the process that someone goes through to create the house,” said Nicholas Donahue, CEO and co-founder of Atmos. “My belief is that more people would build if it was just simpler and less ambiguous, and they had the ability to design a home that is unique to them.”

Talk about how the company makes money, Atmos’ revenue model is built around charging the homebuyer a 5% fee on the cost of construction “for due diligence, design, and project management.” Beyond that, the company also charges builders a fee worth $20,000 for finding, vetting and servicing a client, as well as handling all the relevant pre-construction services on their behalf. So far, Atmos has constructed six homes and is working on a few dozen more.” In regards to company’s long-term goal, though, it plans on cracking into various emerging tech markets, such as Denver, Austin, Portland, and Salt Lake City.

“Many wanted to build a home custom to their own needs, but couldn’t figure out where to start, and couldn’t get certainty of timeline or price,” said Evan Moore, Khosla Ventures partner. “It was clear to me then that if someone could provide a trustworthy, transparent process, more people would build custom homes… I think in the coming years it’ll seem obvious that one should be able to find available lots, design homes that work on those lots per local regulation, and start your build — all online.”

Share

Related

Looking through the Lens of Innovation

The topic of technology spells a gazillion conversations every...

A Historic Launch

Human beings are one curious species. Our desire to...

Giving Your Driving Experience a Different Groove

When it comes to valuable traits, human beings have...

Making a Quicker Dash

Our habits are a bigger indicative of our evolution...

Creating an All-New Space Look

While human beings are known to be good at...

Binance to Acquire FTX for an Undisclosed Fee; Saves the Latter from Going Bankrupt

The human arsenal might be hugely expansive in its...

Setpoint Raises $43 Million in Series A Financing; Aims to Become the Stripe for Credit Business

Human beings have a penchant to excel in many...

Another Bid at Widening the Spectrum

While humans are known to be good at many...

You Better Leave the Wheel

Humans are rarely sold on something in just one...

Latest

No posts to display

No posts to display