indieDwell Raises $5.5 Million for National Expansion
INDIEDWELL RAISES $5.5 MILLION IN FINANCING AND ANNOUNCES KEY PARTNERSHIPS AS IT PREPARES TO BRING HEALTHY, DURABLE, SUSTAINABLE, AND AFFORDABLE HOUSING NATIONWIDE.
Boise, Idaho -- indieDwell proudly announces several partnerships including the Chan Zuckerberg Initiative, Northern Trust, the Colorado Health Foundation, and Gary Community Investments as it prepares to launch into new markets nationwide. The company closed its initial round of financing in August, raising $5.5 million for expansion efforts.
indieDwell, a Certified B Corporation, manufacturers healthy, durable, energy efficient and sustainable modular houses, with a mission to help solve the affordable housing crisis, while improving the health of the environment and empowering communities. “Housing costs have skyrocketed, negatively impacting the most vulnerable communities,” says co-founder and CEO, Scott Flynn, “and we believe everyone deserves to live in a beautiful, high quality and healthy home, that’s also affordable. We’ve built a company and a product that is a force for good and will withstand housing market trends.”
The company will be making an announcement shortly regarding its second factory and is in advanced discussions to launch into additional markets in 2020. indieDwell uses a human centered production process which brings hundreds of high quality jobs to each new expansion market. “Our ability to impact communities through economic and workforce development combined with affordable housing makes indieDwell truly unique,” says Pete Gombert, co-founder and executive chairman. “We are proud to be a certified B-corp and to be a GoodWell certified company as a fair, equitable and humane workplace.”
"Everyone deserves a safe, stable, affordable place to call home, which is why CZI supports innovative efforts to improve housing affordability and champion equitable access for all," said Ruby Bolaria Shifrin, Housing Affordability Manager at the Chan Zuckerberg Initiative. "We see this Strategic Program Investment as a way to jumpstart new thinking and new models that can help close the widening gap between urgent housing needs and insufficient supply." The Chan Zuckerberg Initiative's Donor Advised Fund at the Silicon Valley Community Foundation was one of the first to support indieDwell.
As federal and state governments seek policies and solutions to stabilize and expand housing options nationwide, indieDwell is well positioned for successful growth. The company was showcased this Summer on the National Mall in Washington, D.C., as part of the Innovative Housing showcase, drawing praise and support from Congressional Leaders and the Department of Housing and Urban Development (HUD). Additionally, indieDwell was honored as one of the top three housing affordability innovations by the Ivory Prize.
indieDwell partners with like-minded organizations who share a vision for a better future and helping to support those most vulnerable. “The private market does not produce enough affordable housing options, especially for those most in need. Families burdened by too high rent costs, or the money to buy a house, forgo other necessities like food, clothing, and healthcare. indieDwell homes are a sustainable solution that considers all stakeholders involved,” says Flynn. The company is looking for new partners and developers in markets across the country to meet the growing demand for a sustainable affordable housing solution that is healthy, durable, and energy efficient, while also bringing jobs to communities in need and doing good for the environment. www.indiedwell.com.
indieDwell, a certified B Corporation, manufacturers healthy, durable, energy efficient and sustainable modular houses, with a mission to help solve the affordable housing crisis, while improving the health of the environment and empowering communities.
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