Texas-based IFM Restoration Bags $10 million in Series A round of financing

Texas-based IFM Restoration Bags $10 million in Series A round of financing

IFM Restoration pulls quality talent from a countrywide network of independent contractors, leveraging many sources to attract top-quality workers

Fremont, CA: IFM Restoration, a Dallas, TX-based online marketplace that links contractors with owners and property managers of rental properties, has raised $10 million in Series A round of financing, co-led by S3 Ventures and Brick & Mortar Ventures. The firm intends to use the proceeds of the round to expand its team and widen its proprietary technology platform to address the ever-growing challenge of managing and maintaining large portfolios of rental properties, effectually.

"Having two powerhouse strategic partners like Brick & Mortar and S3 Ventures is a sign of the tailwinds ahead," Daniel Feldman, co-founder, IFM Restoration. "The funding will enable us to execute our vision of having the largest network of highly skilled tradespeople in the country, and bring predictability to the contractor marketplace for the first time."

"Our contractor-centric model reduces the cash flow constraints they typically experience; the bottom line is contractors earn more money on our platform," said IFM Restoration Co-Founder and CEO Dustin Marx. "We take care of all the back-office needs from project management to bookkeeping to scheduling to demand generation, taking that load off the contractor so they can work more and ultimately make more money."

IFM Restoration pulls quality talent from a nationwide network of independent contractors, leveraging many sources to attract top-quality workers. Beyond matching contractors with work that suits their specialty while reducing operating expenses for the owners, IFM Restoration plans to maximize its investment into machine learning and artificial intelligence to offer more predictability in repairs and maintenance and continue to improve the resident experience and contractor experience.

"IFM Restoration helps to maintain some of the largest rental portfolios in the United States across many markets," said Charlie Plauche, partner at S3 Ventures. "They've solved some of the challenges unique to maintaining large portfolios of properties, and we're excited to partner with them as they continue to build a market-leading company."

"We are pleased to be investing in Dustin and the IFM Restoration team as they're solving a critical challenge in the world of managing our built environment: the maintenance and repair of residential rental properties," said Darren Bechtel, founder and managing director of Brick & Mortar Ventures. "They have created a seamless, efficient technology solution that makes both sides of the equation -- property owners and renters -- experience a streamlined service visit. We look forward to working with the company and its board to continue to optimize and scale IFM's operations."

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