Cofounders Colin Jube and Dallin Jolley recognized that despite new zoning changes which allow accessory dwelling units (ADUs), ADUs were inaccessible to homeowners due to difficulties navigating permitting and managing construction. Modal provides a turn-key service to take the complexity out of construction to make ADUs accessible to everyday homeowners.
Modal is helping to address the housing crisis by adding sustainable and affordable housing units to existing neighborhoods. Modal enables individual homeowners to increase their wealth by generating passive income and maximizing the value of their property. In addition to backyard homes, Modal offers home offices to address the growing needs of our customers who are increasingly working from home.
Modal units are built modular, meaning they’re constructed off-site in a controlled environment, so customers don’t have to deal with the headaches of months-long, on-site construction. Modular construction enables high-quality construction within a scalable business model. Coupled with our turnkey service, Modal makes ADUs accessible to ordinary homeowners.
- Over $1mm Q1 2021 revenue and profitability projected in Q4 2021 (See data room for detail regarding the assumptions underlying these assumptions)
- With over 50 units sold and an established, repeatable process, we believe Modal is at inflection point and is ready to scale
- Growing market supported by consumer demand and positive regulatory tailwinds
Network of manufacturing partners, contractors and consultants to enable expansion to new markets with limited fixed costs