Modulous, a global construction technology company that has created a scalable platform for the delivery of multifamily homes, announced it's expanding to the U.S. and is opening an office in the Seattle region.
Founded in London, Modulous has developed a digital design platform, proprietary kit of parts, and preferred supplier network to radically reduce the risks and time associated with project feasibility, design, planning, permitting, construction and delivery. The company aligns the interests of key stakeholders in the construction process by partnering with developers and architects or by licensing its end-to-end platform to general contractors.
“With a nationwide shortage of more than 5 million homes, there has never been a greater need to accelerate housing development in the U.S.,” says Modulous Co-Founder and CEO Chris Bone. “What makes Modulous unique is our asset-light approach. Avoiding capital-intensive factories, we instead focus on empowering developers, architects, and contractors with the information, products and processes to do their jobs better. We give them real-time access to the data, building components and service providers they need to develop high-quality housing at the speed and scale that society requires.”
Modulous in the U.S. is led by four women who were all senior staff at Katerra, the technology driven, offsite construction firm that had a transformational impact on the construction industry. Overseeing the U.S. team is Janet Stephenson, an industry leader in the productization of construction and the former head of building platform sales at Katerra.
“Modulous was founded on the belief that everyone should have access to sustainable, comfortable, and healthy homes,” says Stephenson, who will serve as regional managing director, U.S. “I am pleased to join the Modulous team because I see a unique opportunity to leverage our technology and world-class supplier network to break the logjam in U.S. housing production. Rather than introducing another construction input that cannot scale, we will use our platform to align incentives in the ecosystem, accelerate sustainable development, and reduce the pricing pressure on homeowners and renters.”
Added Chris Bone, “We are absolutely delighted that Janet and her team have chosen to join Modulous. They are very talented and extremely experienced professionals who will help us land and expand in the U.S. market. The opportunity for us is vast, and we couldn’t have a better team of people at the wheel.”
“Modulous is exactly the kind of offsite construction firm that fits Blackhorn’s thesis for this built environment sub-sector,” says Ray Levitt, Blackhorn Ventures, the lead investors behind Modulous. “They own the customers – large public or private developers of affordable housing – and they operate as modular designers and digital supply chain integrators, while outsourcing manufacturing assembly and installation. This allows Modulous to be highly capital-efficient, profitable, and resilient to industry cycles. Expanding into the U.S. is the logical next step.”
Modulous has already leveraged its platform to initiate several projects in the U.K., and the company is currently preparing its design software, kit of parts, and partner ecosystem for a U.S. product launch in early 2021.
The company’s software streamlines project design and planning by generating fully engineered and locally viable design solutions, detailed cost information, and accurate programs at concept stage. Further, the platform incorporates a rules-based generative design approach that enables best-in-class sustainability standards, along with a reporting tool that provides investors with vital information for climate risk disclosure and benchmarking against ESG criteria.
The Modulous design software is connected to a proprietary set of sub-assemblies – its “kit of parts” – that the company developed to meet or exceed local building standards. Customers can use the kit of parts to rapidly deliver, assemble, and install new housing without a fixed factory. Furthermore, Modulous helps minimize customer overhead by seamlessly connecting them to the company’s network of premier product and service provider partners, including multinational construction industry leaders CEMEX, Knauf, and Crane Worldwide Logistics.
