ITV invests in Resi
March 1, 2023
ITV is adding architectural tech company Resi to its Media for Equity portfolio in its first investment of 2023.
As part of ITV Adventures Invest, its Media for Equity investment fund, ITV has agreed to invest up to £3 million of advertising inventory across ITV’s channels and ITVX in return for a minority equity stake in the Company.
Resi is a UK architectural platform, on a mission to change, democratise and have a sustainable impact on the UK home improvement market, and joins ITV’s portfolio of successful Media for Equity investments including location app what3words, online menswear brand Spoke, wellness brand Feel and European car buying marketplace Carwow.
Sheena Amin, Director of ITV AdVentures Invest, said: “It’s an exciting time for ITV AdVentures as we announce our first media for equity investment of the year. I am also proud to be backing our first all female founder team. Alex and Jules are serial entrepreneurs, with a proven track record of building, scaling and exiting online marketplaces. I have been thoroughly impressed by their passion and dedication to innovating and digitising the residential architectural market. Resi solves so many pain points for home renovators and architects alike, and I look forward to helping the Company become a household name through the power of ITV. ”
Alex Depledge, Founder and CEO of Resi, added: “ITV offers an unparalleled opportunity to reach millions of households right across the UK. Through a combination of both the scale of linear TV channels and a growing digital audience with ITVX, ITV enables Resi to speak directly to the everyday homeowner. Homeowners who are looking to improve their property and reduce their energy costs but are not sure where to start or who to trust.”
Resi assists with the architectural design and planning of a project, but also the financial aspects and the build via its connect service. It is an established residential architect in the UK – undertaking more projects than any other residential architecture practice (nearly 6,000 to date) and has a 96 per cent planning approval rate.