Atmos, A Startup For Customized Properties, Raises Funds At A $25 Million Valuation

Atmos, a brand new startup that makes it simpler to construct customized properties, has raised $4 million at a $25 million valuation, in a spherical led by Khosla Ventures. A graduate of Y Combinator, the corporate’s roster of traders additionally contains Sam Altman, Adam Nash, JLL Spark, and a gaggle of TikTok influencers. 

“The one manner to enhance housing affordability within the US is to construct extra homes, and the constructing of recent, customized properties has lengthy been a complicated, unreliable course of,” says Evan Moore, a companion at Khosla Ventures who beforehand helped launch Opendoor. “Atmos permits considerably extra folks to construct the properties they need.”

Atmos’ pitch is that it centralizes data for potential homebuilders, who historically have to look individually for realtors, accessible heaps, builders and designers. “Usually it’s only a tremendous scattered course of,” says Nicholas Donahue, the corporate’s CEO and one in every of its 4 cofounders. “What we’re making an attempt to do is pull all that collectively right into a managed market.”

Atmos held its gentle launch roughly 4 months in the past and is now engaged on its first dozen properties. The corporate is operational in two cities in North Carolina—the place Donahue grew up—Raleigh-Durham and Charlotte. Donahue hopes to broaden to a different metropolis inside 9 months and to have 100 properties on the platform quickly after. Atmos will use a lot of the brand new funding to enhance its know-how, together with new visualization instruments that may make it simpler to see what a customized dwelling will seem like.

Donahue was raised by two homebuilding veterans. His father constructed subdivisions for D.R. Horton, and his mom labored for one of many nation’s largest equipment companies. Initially, Donahue strayed from the household commerce. He studied mechanical engineering at North Carolina State however dropped out after his freshman 12 months and moved to Silicon Valley, the place he labored on a couple of different startups earlier than touchdown on the idea for Atmos in 2018. 

Already, homebuilders are tackling distinctive tasks on the corporate’s platform. The primary homes embody a bathe for canines, a non-public Buddhist Temple and an indoor basketball court docket. 

Says Josh Richards, an 18-year-old social media star and one of many enterprise’ new traders: “The way forward for customized housing is right here and its Atmos.” Properly, the TikToker hath spoken.