Curbio

Curbio, Inc. is a technology-enabled home improvement company that prepares residential properties for sale on behalf of real estate agents, brokerages, teams and their home-seller clients. It acts as the licensed and insured general contractor on every project, covering work ranging from handyman tasks and cosmetic touch-ups (paint, staging, hardware swaps, floor refinishing, cabinet refacing, tub and tile reglazing) to full kitchen and bathroom remodels, room reconfigurations, basement and attic finishing, and exterior work such as painting, landscaping, walkway repairs and yard cleanup. Homeowners sign a fixed-price contract that bundles materials, design assistance, permit coordination and end-to-end project management, and all completed work carries a one-year warranty.

Projects are run by local, full-time Curbio project managers who handle design, sourcing, scheduling, licensing, permitting and quality assurance, using a vetted and trained network of licensed and insured trade partners. A proprietary platform and mobile app supports instant estimates, conversion of home inspection reports into itemized summaries with market-specific repair pricing within 24 hours, project schedules, documents, photo updates and real-time messaging with the project manager. The intake process runs from a free proposal request through an on-site walkthrough within one business day, a detailed fixed-price proposal within 48 hours, electronic signature of the homeowner contract, execution of the work, and listing.

The company was founded in late 2017 in Potomac, Maryland, originally under the name Max Sale Price, and is led by co-founder and CEO Rick Rudman. It positions itself as the leading pay-at-closing pre-listing home improvement solution in the U.S. and reports serving thousands of agents at brokerages including eXp Realty, RE/MAX, Berkshire Hathaway HomeServices, Compass and HomeSmart.

Founding story

Curbio was founded in late 2017 by a team including CEO Rick Rudman, originally operating as Max Sale Price, to address the problem that many homeowners lack the money or time to complete repairs needed before selling, resulting in delayed sales or lower prices. The company's response was to perform and finance pre-sale improvements and be repaid when the home sale closes. Rudman previously led Vocus, which he took public on Nasdaq in a $45 million IPO in 2005 and sold to GTCR for $446.5 million in 2014, and later led social media firm Tracx.

Business model

Curbio contracts directly with homeowners as the general contractor on pre-listing improvement projects sold through real estate agents and brokerages. Work is sold under fixed-price contracts covering labor, materials, fixtures, appliances, design assistance, permit coordination and project management, delivered by full-time Curbio project managers and a vetted trade-partner network. Sellers can pay as they go or use financing arrangements that defer payment until the home sale closes; the company markets this fix-first, pay-at-closing model with no project minimums or credit checks. Coverage from 2022 reports Curbio aimed to earn between 150% and 200% of the financing it provides and targeted revenue above $100 million in 2023.

Revenue comes from home improvement project contracts priced on a fixed-price basis and stated to align with national averages, with payment either as the project proceeds or deferred to the closing of the home sale through financing partners.

Traction

Curbio reports completing thousands of pre-listing projects and serving thousands of agents at brokerages including eXp Realty, RE/MAX, Berkshire Hathaway HomeServices, Compass and HomeSmart, operating in over 60 cities. As of the January 2022 Series B, the company said its growth had not slowed despite labor and supply shortages. In September 2022 coverage, Curbio had raised $118 million since inception and stated a goal of exceeding $100 million in revenue in 2023.

Latest developments

In 2022 Curbio closed a $25 million credit facility with Cambridge Trust Company, establishing a new banking relationship, and said it would use the capital to enter new markets, advance its proprietary technology and push revenue past $100 million in 2023. Its current website markets an on-market concierge offering for brokerages, teams and agents, a mobile app for instant estimates and inspection-report pricing, and service coverage in more than 60 cities.