Californian based HOVER Inc. developed a groundbreaking machine learning platform with patented algorithms which turns 4-8 smartphones photos into an interactive, scaled 3D model. The HOVER app turns the photos into a complete, accurate and detailed overview of any property with all exterior, roofing, walls, doors and window measurements. The measurements are accurate enough to quote any job and eliminate human error. Since launching at the 2016 National Association of Home Builders International Builders' Show, and having been selected as a finalist for Best Home Technology Product, HOVER is already seen as a critical tool by the industry. They partnered with some of the largest building products manufacturers in the world, like GAF, James Hardie and Valspar. The company has also caught the attention of the insurance industry and has moved into a pilot phase with several carriers.
Faster, more accurate measurements without the hassle
One of the most significant challenges for building contractors, homeowners and insurance professionals is getting accurate measurements in a short time and without hassle. With the HOVER app, any property can be measured by taking 4 – 8 pictures with a smartphone or tablet and without a tape measure and ladder. Within 24 hours, HOVER creates an unobstructed 3D rendering of the home, complete with measurements of not only the roof but also the walls and windows. The roof measurements include key areas like square footage, ridges, valleys, eaves, and rakes for a very comprehensive job estimate report. Use of the app greatly reduces the guesswork of job estimates. With 95 percent accuracy, it eliminates the need for manually re-measuring, saving a lot of time and money. HOVER also provides a more accurate assessment of materials needed for the job and less waste. HOVER not only generates detailed measurements, but delivers the output in specific formats that are architecturally relevant to those users. The measurements are also available to carriers, adjusters and re-inspectors in the underwriting and claim processes, enabling carriers to engage homeowners in new ways to get insurance quotes faster and claims processed as quickly as possible.
Showing how home renovations will look in 3D
The home improvement industry has always been challenged with finding ways to show homeowners what their new roof or windows will look like. The HOVER app allows contractors to show a 3D visualization of the actual property so homeowners can see what a new renovation will look like and ‘try out’ new colors and styles to see what works best — which ultimately helps to improve sales closing rates.
Why we selected HOVER for DIA Munich
We’re very pleased HOVER wants to showcase their game-changing technology program at DIA Munich. HOVER simplifies the whole measurement process and their app is already called one of the most useful tools for the building industry. HOVER data will be a catalyst for change for many property-centric industries, from home improvement, real estate and insurance. Opening new revenue streams and increasing cost savings.
Who are HOVER?
HOVER is founded in 2010 by A.J. Altman in Palo Alto, California. A.J. began his career as an engineer at Intel Corporation and he served as an Infantry Officer in the United States Marine Corps. HOVER is based on a technology platform originally created for U.S. military special operations. As a former Marine Infantry Officer, he was intimately familiar with the weaknesses of map data for mission planning. In 2012 they began delivering three-dimensional maps derived from aerial photographs so troops could get a better idea of what they were walking into. Now the migrated technology is migrated into a solution that works on a standard smartphone and HOVER is using it to transform markets that has been notoriously difficult to change: like home improvement and insurance.
The company raised $ 17 million to date and key-investors are Alsop Louie Partners (a risk-oriented technology venture capital firm that offers financial services to early stage companies), Almaz Capital (an early stage venture capital firm investing in entrepreneurs in high-growth tech sectors) and Radar Partners (a principal investment firm in early stage technology companies). In addition to the funding, Stewart Alsop, partner at Alsop Louie Partners, has joined the Board of Directors at HOVER. Their technology is not bound by geography so they are itching to get into the European market.
"It is a simple, on-demand solution for anyone that needs exterior measurements generated automatically as a service. This allows professionals to focus on their business, providing home improvement or other services, not measuring buildings to estimate or quote said services." CEO & founder HOVER Inc. A.J. Altman.
AJ Altman and Kevin Reilley HOVER Inc
Presenter: Justin Hancher
Presenter: Kevin Reilley