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Exclusive: EverFence raises $7M Series A to digitize fencing transactions

May 29, 2024
Illustration of a prison fence with the fence shaped into dollar signs.

Illustration: Lazaro Gamio/Axios

EverFence, which facilitates fencing transactions digitally, raised a $7 million Series A from HighPost Capital's early-stage arm HIPstr, HighPost CEO David Moross tells Axios exclusively.

Why it matters: Private equity investors are flocking to the residential services market, which has plenty of roll-up potential and myriad acquisition targets.

What they're saying: "For an early-stage investment that's already figured out how to capture a big chunk of the market share and is already profitable, we just thought this was very attractive," Moross says.

  • Newport Beach, Calif.-based EverFence is generating "nearly $30 million" in sales, Moross says.
  • Moross expects growing and recurring demand for EverFence's services, given fencing must be maintained and replaced every few years.

How it works: EverFence's online platform provides instant quotes, faster lead times, and a variety of fence types to choose from.

  • The company aims to bring transparency on timing, pricing, materials, and how much profits go to the contractor.
  • It provides back-office support for fencing businesses as well.

What's next: The company will use the funds to expand into new U.S. markets, enhance its services and provide financing to customers.

  • The company also plans to expand into adjacent verticals like deck and patio construction.
  • It's in Southern California, the Dallas-Forth Worth, Texas, area, and Orlando, Florida.
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