Dvele Raises $14MM to Transform New Home Building Experience

Funding will Fuel Innovative Platform for the Creation of Homes Focused on Customer Experience, Wellness and Sustainability New Headquarters in San Diego, California will Accelerate Production

SAN DIEGO, Calif. (March 28, 2019) – Dvele, a technology company redefining how homes are designed and built, today announced that it has raised $14 million in their “Series A” round of funding led by real-estate investment company Crescent Real Estate LLC. The investment coincides with the opening of the company’s new headquarters in San Diego, Calif., where the company is developing the technology to ramp up production in their 75,000 sq. ft. production foundry. Dvele will use the funding to fuel the build out and commercialization of their digital platform for offsite home production that provides an effortless customer experience from ideation, design and engineering, all the way through permitting, fabrication, and the on-site construction required for full completion.

The company utilizes an innovative, hybrid business model for home fabrication under controlled conditions that provides a single stop for architecture, interior design, supply management for materials, general contracting, and delivery, removing unnecessary cost, time and stress from the process. Driving an experience revolution for home buyers, Dvele focuses on quality assurance, sustainability and the health and wellness of the homes they build. Dvele does this by using best practices in software automation, material selection and lean manufacturing techniques that have revolutionized other industries. Extreme energy efficiency and air-quality standards ensure a healthy, high-quality living environment that lasts a lifetime.

“Dvele is creating the template for a software-defined home and construction site that will change the expectations for how a home is built and delivered. We believe our customers should be able to order a home with the same ease and high end experience they expect in buying a luxury car brand or quality consumer electronics,” said Kurt Goodjohn, Dvele Founder and CEO. “The construction industry has been stagnant for decades. Prefabrication is essential for a future where our living environments reflect the world we want to live in: healthy, energy efficient, beautiful and built to last a lifetime.”

Funding will also support current projects to rebuild homes in Ventura, CA and Santa Rosa, CA, both communities that were badly damaged by wildfires. The projects, currently in development, will place new homes on sites where the previous homes were destroyed by the fires. The completed dwellings will be available for sale this summer without the inflated prices that often occur in an area that has been devastated by natural disasters. The expedited process for Dvele homes decreases rebuild time from over a year to six months or less, including design, build and move-in once permits are in place. The combination of an effortless experience to move in, price certainty and high-quality materials and design could be a boon to communities looking to quickly rebuild neighborhoods that have been impacted by these extreme natural events, getting people back into their homes in a faster, less stressful way.

“Traditional home building has been slow to innovate and hasn’t embraced the digital tools and factory efficiencies that have driven our overall economy for the last few decades,” said Conrad Suszynski, Co-CEO at Crescent. “As a real estate investment company and developer, Crescent’s focus is to continually improve the customer experience. We do that through enhanced technology and design to build better buildings and operate buildings more efficiently. This is consistent with Dvele’s mission to offer cutting-edge, sustainable homes using the latest technology.”

“Technology-driven home-building that improves the customer experience and delivers luxury, high-tech housing will be a significant turning point for the residential construction industry,” added Suszynski.

Dvele’s approach to homebuilding, design and delivery utilizes technology and manufacturing efficiency to simplify the process of moving a project from the customer’s dream to reality, with a single point of contact and quick turnaround. Prefabricated modules manufactured in the company’s foundry and delivered to the jobsite reduce the time from order to completion by as much as 70%.

The company will be aggressively hiring new team members for their new HQ in San Diego and serve as the technology, innovation, sales and marketing hub for the company.

About Dvele

Dvele is a privately-held producer of next-generation, new homes. Based in San Diego, CA, Dvele is poised to disrupt the housing industry with their upscale, modern modular homes, and a radically streamlined approach to design, production, and installation. Their homes are focused on contributing to your overall health and wellbeing through state-of-the-art HVAC and air filtration systems and a clean, open aesthetic, while a thoughtful integration of technology puts total-home control in the palm of your hand. Founded in 2016 by successful pioneers in the space, Dvele has leveraged their expertise to create a hyper-efficient design and manufacturing process that minimizes waste and exceeds structural, environmental and home performance standards. For more information, visit www.dvele.com.

About Crescent

Crescent Real Estate LLC (Crescent) is a real estate operating company and investment advisor, founded by Chairman John C. Goff, with assets under management and investment capacity of more than $4 billion. Through the GP Invitation Fund I the company acquires, develops and operates all real estate asset classes alongside institutional investors and high net worth clients. Crescent’s premier real estate portfolio consists of Class A and creative office, multifamily and hospitality assets located throughout the U.S., including The Ritz-Carlton, Dallas, and the wellness lifestyle leader, Canyon Ranch®. For more information, visit www.crescent.com.

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