Streem nudges open Frontdoor

Streem, a US-based on-demand domestic services portal that counts Oregon State University-backed venture fund Rogue Venture Partners as an investor, was acquired by home services plan provider Frontdoor yesterday.
The price was not disclosed but will comprise both cash and equity, including milestone-based equity payments.
Founded in 2017, Streem runs a mobile software-based platform that lets home services professionals begin their analysis of the customer’s property without visiting in person.
The platform applies augmented reality and computer vision to home footage from the customer’s smartphone camera, enabling the professional to capture contextual data, diagnose faults and make recommendations.
Frontdoor will integrate Streem’s technology with its home services offering, which includes a marketplace and monthly subscriptions used by more than 2 million customers.
The company hopes to support additional revenue streams, including the launch of an on-demand home services portal, and will maintain Streem’s payroll to develop artificial intelligence (AI)-based technologies.
AI-focused venture firm Flying Fish Ventures led a round of undisclosed size backed by Loup Ventures in May 2019 that took place alongside Streem’s acquisition of University of Cambridge-founded contextual AR tech developer Selerio, according to Forbes.
Streem had already received $6.8m of a targeted $8.7m round from unnamed investors in November 2018, after Rogue Venture Partners had backed a two-tranche $3.7m seed round closed eight months earlier.
GVR Fund also supplied seed capital, as did Flying Fish Partners, Archivist Capital, Columbia Ventures, Oregon Venture Fund, Portland Seed Fund, Curious Capital, Betaworks Ventures, GCV Capital and General Catalyst AR Fund.
Loup Ventures disclosed an investment in Streem in September 2018, and the startup was also reportedly also backed by Greycroft.