Home services startup Tetra lands $10.5 million for expansion

Tetra, a Massachusetts-based startup whose site connects homeowners looking to make energy-efficient upgrades with local contractors, raised $10.5 million to expand into new markets.

Background: Tetra’s founder, Max Veggeberg, previously founded HomeWorks Energy, the now $100 million company that’s played a big role in the adoption of energy-efficiency initiatives in Massachusetts.

Details: Its platform enables homeowners to get instant quotes for furnace, A/C, or heat pump replacements, and connects them with contractors in its network — in an online, automated fashion.

• Highlighting the available (and soon-to-be available) tax credits/rebates, the press release noted, “The rush of new technologies and newly available government incentives are leaving homeowners confused, while home improvement contractors are left ill-equipped to help guide homeowners through the changing landscape.”
• “Tetra has developed the technology that allows homeowners to enter their address, get an instant price, and see what state and federal incentives are available to them.”

Why it matters for contractors: “We automate all the admin tasks for contractors so they can focus on their craft. We find homeowners and make the sale, automate financing, material ordering, scheduling, and payment collection… Contractors just show up on the day of the install and do the work,” Veggeberg tells Homepros.

What’s next: The money will be used to continue simplifying the consumer experience and improving the administrative burdens on contractors by “automating end-to-end workflows from sales, to inventory management, system design, and installation.”