The Home Depot Announces $150 Million Venture Capital Fund to Fuel Innovation in Retail and Home Improvement

ATLANTA, May perhaps 3, 2022 /PRNewswire/ — The Residence Depot^®currently announced House Depot Ventures, a enterprise money fund created to detect, fund and associate with early-phase companies to accelerate rising systems that intention to make improvements to the consumer working experience and condition the long term of house improvement.

The $150 million fund aims to commit in businesses that progress The Residence Depot’s capability to deliver a seamless interconnected purchasing working experience, create new and differentiated abilities, and prolong its very low-price provider placement to:

Superior Serve Clients:

Simplify how people today make investments in their properties through the meaningful milestones of residence ownership, which include preliminary buy and transfer-in, ongoing maintenance and repairs, and renovations or remodels
Evolve how qualified (Pro) shoppers effectively take care of and increase their enterprises, conserving them time and dollars

Much better Provide Associates:

Make improvements to the life of Dwelling Depot associates and empower them to collaborate a lot more safely and securely, easily and competently to satisfy the fast changing expectations of customers

Produce Operational Excellence:

Generate operational excellence to carry on to deliver benefit for buyers, which include platform innovation, shipping and delivery optimization, asset and community optimization, and the application of facts science

“With Property Depot Ventures, we’re lending our support and skills to permit immediate scale of innovation,” explained Richard McPhail, executive vice president and main money officer of The Property Depot. “This is an thrilling opportunity to come across and scale the future major thoughts in technological innovation and retail.”

The fund will look at investment opportunities in businesses at different levels of development, with an emphasis on early and advancement phase corporations that resolve troubles for The Household Depot’s customers and clearly show possible to scale. Dwelling Depot Ventures will serve as a useful partner by giving growing companies with immediate entry to the knowledge and expansive footprint of the broader company.

Home Depot Ventures builds on a thriving heritage of investments in startups, which have delivered continually powerful returns and small business partnerships. Investments contain Afero, a secure, close-to-end Online of Matters (IoT) platform to present good abilities for merchandise in just about any sector Loadsmart, a freight technologies corporation created to help shippers and carriers cost, e book and go freight additional effectively Produced Renovation, an conclude-to-finish digital platform for bathroom renovations and Roadie, a crowdsourced delivery system that allows exact same-day supply to much more than 20,000 zip codes nationwide, which was acquired by UPS in 2021.

About The Property Depot
The Dwelling Depot is the world’s major household advancement specialty retailer. At the conclusion of fiscal yr 2021, the organization operated a total of 2,317 retail shops in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The corporation employs close to 500,000 associates. The Property Depot’s stock is traded on the New York Inventory Exchange (NYSE: Hd) and is integrated in the Dow Jones industrial normal and Standard & Poor’s 500 index. The Home Depot is #18 on the 2021 Fortune 500.

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