Moderne Ventures, a strategic venture fund focused on technologies innovating the real estate, finance, insurance, ESG, and home services industries, announced on May 31 its 2023 Spring Passport Class. 

The Chicago-based venture capital concern’s Passport Program is a six-month scheme providing participants with education, exposure, insight, and relationships to drive customer growth.

"Unlike a traditional accelerator, Moderne Passport is a comprehensive industry immersion program that helps companies of all stages — seed through pre-IPO — hone their go-to-market strategies in the real estate sector, build relationships with industry leaders and execute pilot programs and customer relationships with some of the largest companies in the world," said Carolyn Kwon, Moderne Passport director.

In a news release, Moderne Ventures said it accepts Passport applications on a rolling basis, with the next class launching in mid-June.

This newest cohort of Passport Companies is helping Moderne's multi-trillion dollar industries innovate and grow across diverse sectors and themes, including sustainability and artificial intelligence. This class has raised over $50 million in funding with collective valuations north of $300 million. The companies are:

• AuditMate (Auditmate.com) – New York, NY: We speak elevator, but we work for you. AuditMate is the first-ever elevator auditing and management software that helps facilities owners and managers get their money's worth from maintenance contracts.
• BHR (Bhr.fyi ) – New York, NY:  BHR aggregates all real estate data - permits, zoning, short and long-term rental potential, climate risk, demographics, and much more - into a concise report powered by an AI copilot, to answer every question real estate professionals have about any property in seconds.
• HomeX (Homex.com ) – Chicago, Ill.: A remote diagnostic software and live services company for residential real estate owners, operators and property managers that efficiently assess and resolve maintenance issues while reducing operational expenses and enhancing the resident experience.
• Ivy Energy (Ivy-energy.com) – San Diego, Calif.: A clean energy data platform that optimizes billing operations, unlocks new NOI and distributes on-site clean energy for multifamily real estate owners, managers, and residents.
• Modwell (Modwell.io) – New York, NY: A design suite of 3D interactive technology, social, and collaborative tools to help visualize the full potential of a property to buyers — and sell more outdated homes, vacant lots, and new developments.
• RenoFi (Renofi.com) – Philadelphia, Pa.: RenoFi has reinvented the home renovation loan. Homeowners, on average, see an 11-time increase in borrowing power with a RenoFi Loan versus traditional home equity loans.
• SmartRoof (Smartroof.ai) – San Francisco, Calif.: The first digitally-native roofing company, SmartRoof uses drones and AI to gather roofing data that avoids the risk of property or personal damage and preserves and increases asset values.
• SolarKal (Solarkal.com) – Somerville, Mass.:  A US solar energy procurement platform with more than 200 solar providers, SolarKal enables property owners to evaluate their portfolio's solar potential and identify the best solar options for each site, saving customers 30% on average.

"At Moderne, we take a generalist approach to vertical investing, looking outside of our industries to find technologies that can be applicable within them," said Constance Freedman, founder and managing partner at Moderne Ventures. 

"This latest Passport cohort was curated to include companies leveraging innovative technologies like drones, AI, machine learning, and more that power highly applicable solutions to our industry's most pressing challenges," Freedman added.

For more information, visit moderneventures.com.

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