Tella Firma Foundations Secures $1.6 Million in Series-B Financing
Recent round of funding includes first institutional investor, Enhanced Capital
(DALLAS, TEXAS—Jan. 11, 2017) Tella Firma Foundations, a company that is revolutionizing the construction industry, today announced it has completed a $1.6 million Series-B funding round. The financing oversubscribed the goal for the round set at $1.5 million.
The majority of the round was funded by current investors, including North Texas Angel Network Investors, together with several new investors, including the company’s first institutional investor, Enhanced Capital.
“Our business model, proven success and plans for growth are driving investment interest in the company,” said Jim Fontaine, CEO of Tella Firma. “We have a very large market opportunity, beginning in Texas and expanding to other regions, and we have continued to achieve success in marketing our solution to single- and multi-family builders and commercial builders. The market for Tella Firma’s products is over $2.5 billion in the U.S. and over $1 billion in Texas alone.”
Tella Firma initiated its Series-B funding to help fund its geographic expansion into Central Texas, entry into commercial and school construction markets and next-generation product development. According to Fontaine, the company plans to grow to 10,000 foundation installations per year within five years.
The Tella Firma foundation system is backed by seven issued patents and has been used by dozens of builders with almost 1,000 foundations installed. Tella Firma foundations protect the foundation from damaging active soil movement with an environmentally friendly, green installation process to avoid the need for any type of chemical or water injection into the soil under the foundation.
“Tella Firma has large market opportunities, differentiated products and a strong management team. Enhanced Capital is excited to continue working with a company that fits so well with our investment philosophy,” said Mark Slusar, Managing Director of Enhanced Capital’s Washington, D.C., office. “Enhanced Capital is committed to making impactful investments that help growth-oriented businesses like Tella Firma access the resources they need to be successful.”
About Tella Firma Foundations
Dallas-based Tella Firma is revolutionizing the way home foundations are built. Tella Firma gets its name from the Latin words meaning “strong home.” Foundations with the company’s product have been installed in residential and light commercial projects in Colorado and several Texas cities, and the company continues to expand into new markets throughout the region. For additional information, visit tellafirma.com.
About Enhanced Capital
Enhanced Capital, with primary offices in New York City and New Orleans, is a diversified, national asset manager that invests capital into small businesses, renewable energy projects, historic real estate rehabilitation and affordable housing projects through federal and state incentive programs and other public policy investment strategies. It creates customized solutions for tax credit and mission-focused investors based on their investment needs, including CRA requirements, geographic footprint of investments and investment product type. Learn more by visiting enhancedcapital.com.