Market Overview

Customer Experience (CX) Technology Company Avid Ratings® Raises $6 Million in Series-A Financing to Transform Homebuilding and Real Estate Industries


Avid Ratings, North America's industry leader for measuring home quality
and creating exceptional customer experiences, announced today it has
closed on $6 million in new funding from Madison, Wisconsin-based
venture capital firm 4490 Ventures and Detroit-based growth capital
investment firm Beringea. The funding will help the company expand its
workforce to bolster capabilities that will support builders nationwide
with customer experience tools and technology.

"We are excited to share the news of our ongoing growth at Avid
Ratings," said Paul Cardis, founder and chief executive officer at Avid
Ratings. "This new investment will help Avid become the leading resource
for measuring building quality and maximizing homebuyer satisfaction
across North America."

The funding allows the company to expand its workforce by up to 100
people in the next two years. Hiring will take place through 2020 to
further build out all departments in the company, including product
development, sales, customer success, and marketing.

In particular, the company plans to enhance and redesign its customer
survey platform to allow builders new and innovative ways to capture
customer experiences (CX).

"The addition of these new capabilities will help builders be more
competitive by responding faster and smarter to customer feedback," said
Aaron Everson, president at Avid Ratings. "We anticipate many new
customers with the improvements and expansion of our AvidCX suite of
customer experience tools. We look forward to the continued support of
over 1,000 builder divisions across North America who already know how
our products have boosted customer loyalty and increased closing rates
for their sales teams."

"4490 Ventures is thrilled to be a part of Avid Ratings' next chapter,"
said Greg Robinson, managing director of 4490 Ventures. "I am confident
in Avid's continued success in serving the customer experience needs of
the homebuilding industry across the U.S. and Canada."

Bill Blake at Beringea said, "The housing market lacks good data
collection methods throughout its supply chain, and that lack of
visibility can negatively influence important buying decisions. Avid
Ratings has become a trusted source of unique feedback in all aspects of
homebuilding, and it's well positioned to bridge these information gaps
and power new home purchasing in this already-strong market."

About Avid Ratings

Avid Ratings (
is the leading resource for building quality in the world. Dedicated to
the homebuilding industry, Avid Ratings helps companies build better
customer experiences by gaining powerful consumer insights and deep
customer feedback through a proprietary customer experience platform.
Avid Ratings was named a Top 5 Sales Tool by BUILDER magazine and NAHB
and a Brilliance Awards recipient by TecHome Builder. Avid was
also featured as a Top Product by Constructech magazine while
also being ranked among the magazine's "50 Most Influential Tech
Companies in Residential Construction."

About 4490 Ventures

4490 Ventures is an early-stage venture capital firm that invests
broadly across the software technology spectrum, including
hardware-enabled software and information businesses. 4490 Ventures
specializes in partnering with Midwest-based entrepreneurs focused on
building billion-dollar enterprise value companies. For more
information, please visit

About Beringea

Beringea provides equity and/or mezzanine debt to growth-oriented
companies in the U.S. and UK. The Firm, which includes Michigan-based
Beringea, LLC and its London, UK office Beringea LLP, invests in
exceptional companies operating in a range of sectors, including
healthcare, information technology, advanced manufacturing, digital
media and ecommerce, and specialized consumer products. With flexible
capital solutions, extensive investing experience and an international
footprint, Beringea's team offers its portfolio companies the resources
to grow their businesses and create value for stakeholders.

In the United States, Beringea operates as an SEC-registered
investment advisor, Beringea, LLC. The contents of this communication
piece are in no way intended as a solicitation to investors and are for
new investment deal flow purposes only.

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