When you're an entrepreneur (or hey, when you're simply human), it's is easy to search for love in all the wrong places. As a self-described startup, we learned a lot during our seed phase, but we think it's time to break up with venture capitalists. (Guys, it's not you, it's us.) Sure, this model works for some, but Bolster had bigger ideas. Unfortunately, we were often told to “go build something small and simple that you can use to grow fast and raise capital.” Many thought that the renovation problems we sought to solve were impossible, and we had a bit of a issue with that.
The issue with this "safe" approach is that it meant halting our natural curiosity about why the traditional renovation process doesn't work. We were instructed to no longer challenge the status quo. In following this approach, an even scarier possibility was that we'd succeed at doing something plain and mediocre. In setting low bars, it's difficult to create a culture of work or a product that has the energy to innovate – even with tons of money. In other words, we're not in the business of getting stuck in the middle. Yawn.
Alternatively, if you fail early on at trying to do something extremely challenging, you can return smarter and potentially achieve something great. And as we like to say, failure can often be the most important part of innovation.
Fortunately, we eschewed the advice of investors, stuck to our guts, attacked the renovation process, and set about building a new renovating operating system. And it's because of this determination and perseverance that Bolster has officially joined the porch.com family!
With over $100M raised and a nationwide demand platform that in the past 12 months has delivered over $2Bn of potential new business to professionals, the Seattle based home services platform offers Bolster the resources and infrastructure to achieve our original and continuing mission to transform the major home renovation process and experience for owner and professionals alike.
Bolster will continue to operate as an independent entity. We'll be led by the same founding team, but with a few key changes: we’ll be advancing the business model by becoming the general contractor on all projects, internalizing various activities like design and pricing to help speed up and simplify the pre-construction process. As such, we'll be in the perfect position to offer extreme accountability (the counterpart of radical transparency) via the first-ever on-time and on-budget financial guarantee on every project, all at no cost to the owner.
There's a laundry list of reasons why Porch is the perfect home for Bolster, but let's dig into a few highlights. From a tactical perspective, the partnership just makes sense: we're both tackling two sides of the home renovation coin, from smaller, ad-hoc projects at Porch to large-scale renovations here at Bolster. And it's also a people thing. We all love what we do, and we're all energized by an obsessive curiosity and desire to re-imagine the home renovation process. Most importantly, we believe we can radically transform the relationships we have and make at home.
We’ll be releasing statements to the press shortly to announce the relationship. Stay tuned!
Founder & CEO