Veev Expands Into Single-Family Home Market, Announces New Digital Fab
Single-family product is first to offer a comprehensive homebuilding solution to efficiency, labor, and sustainability challenges affecting the industry
May 02, 2023
HAYWARD, Calif., May 02, 2023 (GLOBE NEWSWIRE) — Veev, the technology-enabled homebuilding company, today announced the launch of its Single-Family Home product, which combines efficient and sustainable building practices with high-quality and adaptable design to create a holistic homebuilding solution with no premium in cost to consumers. The expansion into the new market coincides with surging demand and a national shortage of 6.5M single-family homes.
The Single-Family Home will be unveiled at the first Veev Assembly, which will be hosted at the company’s new headquarters in Hayward on May 17th. The new facility will serve as the company’s Digital Fab, engineering center, and production facility, and it is projected to build up to 500 homes per year. This grand opening will feature a first look at Veev’s inaugural Single-Family Home, as well as exclusive sessions led by Veev CEO Amit Haller.
“Our home is the single most important investment we’ll make in our lifetime. It sounds simple, but this mindset is hardly reflected in today’s construction,” said Amit Haller, Veev’s CEO and co-founder. “Affecting this status quo requires radical innovation and a customer-first focus – we’ve engineered our building method to do just that. Following our success in the broader market, we look forward to bringing our unique approach to single-family homes at a time of unprecedented demand for better housing.”
Veev’s new facility will uplevel and adapt this process for single-family homes, adding to existing capabilities. The company offers major benefits to homebuilders and consumers alike with no compromises. Veev’s system solves for five key issues endemic to the homebuilding industry:
- Efficiency: Each single-family home can be built in 30 days, complete with full panelized build, installation, and a digital home backbone. Veev’s approach is up to 8x more efficient, when compared to traditional construction.
- Quality: The homes offer cutting-edge materials and features like high-performance surface and European windows and LED lighting throughout
- Sustainability: Veev’s system is designed for the well-being and the environment; the building process produces 50% less CO2e compared to traditional methods
- Adaptability: No cookie cutters; Veev can accommodate any home design and aesthetic
- Cost Competitive: All these features are included with no premium in cost, as the homes are priced at parity with the market
Together, these benefits comprise a holistic approach to homebuilding that prioritizes the consumer while addressing key issues that traditional builders have been unable to solve.
“At Veev, we have the advantage of taking a comprehensive approach to homebuilding, from thinking through the smallest design details to incorporating innovative technologies that make up a home that’s made for the 21st century,” said Dafna Akiva, Veev’s CRO and co-founder. “It all ties back to our view of the home as the ultimate consumer product. As we open our new Digital Fab, this focus will continue to guide our work to build high-quality homes while meeting the needs of our customers in new and existing markets.”
Veev is a building technology company founded on the belief that homes are the ultimate consumer product. Veev’s mission is to reimagine the home experience from the ground up. Leveraging a vertically-integrated approach, Veev is pioneering the next wave of home design, development, and service – utilizing cutting-edge technology, process, and materials to build better homes faster and more sustainably. The company is backed by BOND, LenX, Zeev Ventures, Fifth Wall, Brookfield Growth and JLL Spark.
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