Kiddar Capital Grows Real Estate Tech Portfolio with Investment in Kanler
Concierge-style home renovation company will revolutionize
residential construction for homeowners
FALLS CHURCH, VA / OCTOBER 26, 2016—Kiddar Capital, the private equity firm founded by real estate and construction industry veteran Todd Hitt, recently confirmed an investment in San Francisco based Kanler, a residential general contractor that provides an innovative and groundbreaking user experience for homeowners through technology.
Residential housing is the largest tangible US real estate asset, worth roughly $23 trillion, with $355 billion spent annually in residential construction. That industry is now faced with a rapidly aging inventory of homes which require major repairs and/or upgrades.
Kanler has identified this enormous opportunity and is prepared to disrupt the market’s broken and archaic approach to home construction. “The market is ready for homebuilding to enter the 21st century. Your project should be managed with the best technology possible, and you should be able to see online what’s happening at any given moment — just like using Uber or ordering from Amazon,” states Cheryl Foil, who led the investment for Kiddar Capital.
Seeded by industry elite firms Battery Ventures and Floodgate, Kanler takes care of tasks, removes hurdles, and bypasses the exasperating experience most homeowners encounter when making major repairs, updating their home, or constructing a new one. Kanler’s closed ecosystem differentiates them from their competitors, making them a one-stop-shop for all residential construction needs. Other contenders in residential real estate technology approach the industry through labor qualification and marketplaces; Kanler performs the role of general contractor as well.
“We have a homebuilding fund at Kiddar Capital that focuses on new home construction, so we regularly experience the issues that Kanler now solves. Kiddar stems from the world of general contracting and no one understands this industry better than we do. Kanler is compelling to us for all the right reasons, and we look forward to bringing our industry expertise and networks to their table,” says Foil.
About Kiddar Capital
Kiddar Capital is a global alternative asset management firm based in the Washington, DC area with offices in London and Houston. Launched in 2007 by American businessman Todd Hitt, the firm manages $1.25 billion across established and emerging asset classes including real estate, homebuilding, venture, credit, traditional private equity, energy, and hospitality.
Kanler, Inc. is a construction company that specializes in custom home design and whole house remodels. It offers a platform that connects homeowners with home improvement professionals. The company also acts as a third party to manage budget, documentation, schedule, and changes. The company was incorporated in 2015 and is based in Redwood City, California. For more information, visit: kanler.com.