Moderne Ventures launches its newest Passport Class addressing the biggest challenges facing real estate, finance, insurance, ESG, and home services

CHICAGO, May 31, 2023 /PRNewswire/ -- Moderne Ventures, a strategic venture fund focused on technologies innovating around the real estate, finance, insurance, ESG, and home services industries, announced its 2023 Spring Passport Class. The Passport Program is an intensive six-month program providing its participants education, exposure, insight, and relationships to drive customer growth.

"Unlike a traditional accelerator, Moderne Passport is a comprehensive industry immersion program that helps companies of all stages – seed through pre-IPO – hone their go-to-market strategies in the real estate sector, build relationships with industry leaders and execute pilot programs and customer relationships with some of the largest companies in the world," said Carolyn Kwon, Moderne Passport Director.

This newest cohort of Passport Companies is helping Moderne's multi-trillion dollar industries innovate and grow across a diverse set of sectors and themes, including sustainability and artificial intelligence. This class has raised over $50M in funding with collective valuations north of $300M. The companies are:

• AuditMate (Auditmate.com) – New York, NY: We speak elevator, but we work for you. AuditMate is the first-ever elevator auditing and management software that helps building owners and managers get their money's worth from maintenance contracts.
  
• BHR (Bhr.fyi ) – New York, NY: BHR aggregates all real estate data - permits, zoning, short and long-term rental potential, climate risk, demographics, and much more - into one simple report powered by an AI copilot, to answer every question real estate professionals have about any property in seconds.
  
• HomeX (Homex.com ) – Chicago, IL: Remote diagnostic software and live services for residential real estate owners, operators and property managers to efficiently assess and resolve maintenance issues while reducing operational expenses and enhancing the resident experience.
  
• Ivy Energy (Ivy-energy.com) – San Diego, CA: A clean energy data platform that optimizes billing operations, unlocks new NOI and distributes on-site clean energy for multifamily real estate owners, managers, and residents.
  
• Modwell (Modwell.io) – New York, NY: A design suite of 3D interactive technology, social, and collaborative tools to help visualize the full potential of a property to buyers—and sell more outdated homes, vacant lots, and new developments.
  
• RenoFi (Renofi.com) – Philadelphia, PA: RenoFi has reinvented the home renovation loan. Homeowners on average see an 11x increase in borrowing power with a RenoFi Loan vs. traditional home equity loans.
  
• SmartRoof (Smartroof.ai) – San Francisco, CA: The first digitally-native roofing company, SmartRoof uses drones and AI to gather roofing data that avoids risk of property or personal damage and preserves and increases asset values.
  
• SolarKal (Solarkal.com) – Somerville, MA:  The largest US solar energy procurement platform with over 200 solar providers, SolarKal enables property owners to evaluate their portfolio's solar potential and identify the best solar options for each site - saving customers 30% on average.

"At Moderne, we take a generalist approach to vertical investing, looking outside of our industries to find technologies that can be applicable within them," said Constance Freedman, Founder and Managing Partner at Moderne Ventures. "This latest Passport cohort was curated to include companies that are leveraging innovative technologies like drones, AI, machine learning, and more that power highly applicable solutions to our industry's most pressing challenges."

About Moderne Ventures
Moderne Ventures is a strategic venture capital firm approaching $450 AUM.  Moderne invests in technology companies in and around the multi-trillion-dollar industries of real estate, finance, insurance, ESG, and home services. It has both a Fund and an Industry Immersion Program, the Moderne Passport, designed to foster innovation, partnership and growth between industry partners and new emerging technology companies.

Moderne has built an extraordinary network of more than 700 executives and corporations within its core industries and evaluates over 4,500 emerging tech companies each year. Moderne most often looks outside its industries to find technologies that can be applicable within them, and it has invested in over 135 companies across its funds. Moderne has built a stellar track record investing in companies like DocuSign, Porch, Hippo, Homesnap , Caribou, Xeal and ICON.