Home Renovation Made Easier: Eano Secures $6 Million in Funding

Undertaking a home renovation can be both exciting and challenging. A new company is aiming to streamline this process, making it more affordable and less stressful for homeowners.

Eano, a startup focused on simplifying home renovation management, has recently raised $6 million in a funding round led by Builders VC. Celtic, Newfund, and Danny Zhang, co-founder of Wish, also participated in the investment, with Zhang also serving on Eano’s board.

From Personal Frustration to Startup Innovation

Stella Wu, Eano’s founder, previously held a growth product manager position at Wish. Her personal experience with home renovation in 2017 highlighted significant issues within the industry.

“I quickly identified numerous disconnected problems, particularly concerning the reliability and communication skills of individual workers,” Wu stated.

This realization led to the founding of Eano in 2019. Based in San Francisco, the company connects homeowners with vetted contractors and guides them through the renovation journey. Eano also facilitates projects involving the construction of ADUs (accessory dwelling units).

Pandemic-Driven Growth and Expansion

The increased time spent at home during the 2020 COVID-19 pandemic resulted in a fivefold increase in Eano’s contract revenue. Furthermore, the first quarter of 2021 saw a 70% year-over-year growth in business.

Eano distinguishes itself by offering transparent and competitive pricing, preventing unexpected costs during remodeling projects. The company’s automated system centralizes all communication and project tracking.

It has also cultivated a network of local, licensed, insured, and experienced professionals to match with homeowner projects.

Bridging the Gap for Contractors

“Many skilled contractors struggle to reach homeowners due to limited resources,” explained Wu, a Chinese immigrant, in an interview with TechCrunch. “We provide a platform to connect them with clients and manage all aspects of the project.”

Currently operating in the Bay Area and Los Angeles, Eano plans to expand its services to Seattle and Houston later this year.

Focus on Product Development

The newly acquired capital will be primarily allocated to enhancing Eano’s product offerings.

Homeowners utilizing Eano can select pre-defined remodeling packages and monitor project progress through regular updates, direct communication with the team, and video reports.

“We are also simplifying communication and payment processes for contractors,” Wu added. “Our software assists them with branding, administrative tasks, and customer support.”

Investor Confidence in Eano’s Vision

Jim Kim of Builders VC first encountered Wu and her team while they were at Wish.

“Our investment strategy centers on supporting exceptional entrepreneurs with a proven track record and a strong desire to succeed,” Kim stated. “Eano’s mission – combining a product sourcing approach similar to Wish with technology to improve the construction industry – is highly compelling.”

Kim also expressed admiration for Wu’s determination to challenge traditional industry norms. “She is demonstrating that success in construction doesn’t require decades of experience or a conventional background.”

“We actively seek out entrepreneurs who defy stereotypes, and Eano’s ethos aligns perfectly with our investment philosophy,” Kim concluded.