NEW YORK--(BUSINESS WIRE)--Distributed Ventures, a Seed to Series B venture fund, is leading Armadillo’s $3.5 million Seed round. Armadillo is a tech-driven home warranty company whose digital platform provides affordable, subscription-based protection for home appliances and systems when they break down. The investment aligns with Distributed Ventures’ focus on companies transforming the future of risk across Fintech, Insurtech and Digital Health and Benefits.
“Although Armadillo is singularly focused on home warranty initially, the ‘health of the home’ as a theme has expansive application across the entire life cycle of home ownership, including inspection, prevention, maintenance and replacement,” said Adam Blumencranz, Partner, Distributed Ventures. “Armadillo is well positioned to leverage its wedge into the home to capture the broader ‘operating system of the home’ market opportunity.”
Due to the convergence of the work from home trend, and that millennial and Generation Z populations – who, historically, have not been responsible for maintenance while renting – are now increasingly participating in the homeownership market, innovative services related to home maintenance, improvement and repair are in high demand. Home warranty coverage is a compelling entry point into the broader ‘health of the home’ opportunity given its relevance to everyday appliances and its ability to scale.
“Armadillo has re-imagined the entire home warranty product, simplifying the service agreement, broadening distribution and significantly improving the user experience from purchase to claims,” added Michael Peri, Partner, Distributed Ventures. “They are taking an omni-channel approach to distribution, unlocking opportunities incumbents have historically ignored, including partnerships with real estate agents and P&C brokers/carriers.”
"We believe our customers shouldn’t have to worry when stuff breaks in their homes,” said Matan Slagter, CEO, Armadillo. "Our tech-forward platform provides a home warranty subscription product for a new age of homeowners, making it easy, convenient and fast to repair or replace home appliances and systems in their homes.”
About Distributed Ventures
Distributed Ventures is a Seed to Series B focused fund that invests in entrepreneurs as they transform the future of risk across Fintech, Insurtech and Digital Health and Benefits. As former founders, investors and operators, the Distributed Ventures team provides deep subject matter and early-stage operational expertise to help companies find success from day one. Distributed Ventures’ goal is to help entrepreneurs demonstrate product-market fit and accelerate commercial traction via diverse distribution channels. For more information, visit distributedvc.com.
Armadillo is a technology company that offers home warranty plans designed for a new generation of homeowners. Founded in 2021 by Matan Slagter and Lansdon Robbins, Armadillo's mission is to provide an effortless homeownership experience. Armadillo plans are available in all 50 States. Learn more by visiting www.armadillo.one.