Streem is catching steam with its augmented reality technology for home service professionals.
The Portland startup has reeled in another $2 million from Archivist Capital, Oregon Venture Fund, and Portland Seed Fund. Existing investors Flying Fish, Rogue Venture Partners and Betaworks Ventures also participated, pushing the company’s seed round to $3.7 million. It raised $1.7 million in December.
Streem aims to give home service professionals a way to more quickly diagnose and quote a customer’s inquiry by using smartphone technology.
Customers can use Streem’s app to stream HD video of their given issue to the professional, who can then use a digital toolbox to take measurements and other notes. Computer vision technology can automatically detect the brand and model number of a part or appliance. Professionals can guide the conversation with a laser pointer and use arrows anchored to a 3D map of the space. The photos, videos, notes, and data stay saved on the app, which utilizes Apple’s ARKit.
The idea is to help professionals assess a problem during a “virtual visit” and gather the necessary tools — all before they physically enter a home.
Streem CEO Ryan Fink said that home service professionals spend 40-to-60 percent of their time in traffic and commuting in between quotes or jobs. He noted that professionals are able to give four times as many quotes because of Streem’s technology.
Fink added that much of the company’s momentum has come from large home service enterprises, retailers, and marketplaces. Streem partnered with HomeAdvisor in October to help find service professionals. It makes money by charging a monthly fee per professional that starts at $19. The service is free for consumers.
Streem’s app recently won the Innovation Award for “Apps, Platforms, and Software” at Mobile World Congress. The company has 12 employees and expects to hire another three people by the end of 2018. It also announced its board of advisors on Wednesday made up of top computer vision researchers and home services pioneers.
