Renoworks SDK™ facilitates new market
segment in the new home construction industry
CALGARY, Oct. 3, 2017 /CNW/ - Renoworks
Software Inc. (TSXV: RW)(PINK SHEETS: RWOKF)("Renoworks"
or the "Company"), a leading provider of digital home
imaging software and web solutions for new home construction and
home renovation markets, is pleased to announce the adoption of its
leading visualization platform with several top US
Homebuilders. Renoworks SDKTM is a
Software-Development-Kit (SDK) allowing technology companies,
digital marketing agencies and other partners servicing the home
remodeling and builder markets to create rich, interactive
applications using the Renoworks visualization platform.
"We are very pleased with the success of our leading
visualization technology platform with several of the nation's
largest homebuilders," stated Doug
Vickerson, CEO of Renoworks. "The introduction of our
technology beyond our traditional remodeling clients into the
homebuilder segment is one of our Company's key strategic growth
imperatives. Growing demand from homebuilders offers an
exceptional opportunity for us to rapidly penetrate this untapped
market and grow revenue through building a significant presence in
the new home construction industry."
"This is significant for Renoworks in that it also positively
boosts two of our other key business units; Design Services
and Enterprise," Vickerson further stated. "Our
SDKTM technology partners utilize our growing
team of Design Service professionals to prepare room scenes for
builders. For our Enterprise business, more manufacturers continue
to see the benefit in having digital product libraries on the
Renoworks platform because of the increased exposure. There
is definitely a need in the new home construction industry to make
design option decisions easier for the homeowner and the Renoworks
Platform allows for just that." "We are excited about the new
home construction industry as it is showing positive growth signs
that Renoworks is taking advantage of," Vickerson concluded.
In the new home construction industry, single-family
construction is on the increase. Housing markets continued to
strengthen in 2017, with new and existing home sales, prices and
construction levels on the rise. Single-family construction
continued to pick up pace over the past year, with total starts
ticking up from 1.11 million units in 2015 to 1.17 million units in
2016 and for the first time since 2005, single-family construction
drove last year's growth, increasing 9.4% to 781,600 units.
Despite these gains, single-family construction, traditionally the
largest source of residential investment remains well below
historical levels. Key housing market indicators remained
largely positive in 2016 through to 2017. For example, with
permitting increasing in 70 of the nation's 100 largest metro
markets last year, the overall trends are generally positive and
the outlook for housing construction activity is
encouraging.1
1Source:
The State of the Nation's Housing 2017, Joint Center for Housing
Studies of Harvard University, online:
http://www.jchs.harvard.edu/sites/jchs.harvard.edu/files/harvard_jchs_state_of_the_nations_housing_2017.pdf
About Renoworks
Renoworks Software Inc. develops and
sells unique digital visualization software for the remodeling and
new home construction industry. Delivered online, as a custom
developed app or desktop software, Renoworks provides its
technology to manufacturers, contractors, builders and retailers
offering the solution to one of the construction industry's
greatest challenges: enabling customers to see how their product
choices will look in a realistic, virtual environment – even in
their own home – before they make a purchase decision.
Renoworks markets its software as a cost-effective lead generation
tool and generates revenues from four main business lines:
Enterprise, Renoworks PRO, Renoworks Design Services and Renoworks
SDK (Software Development Kit). For more information, visit:
www.renoworks.com and www.renoworkspro.com.
The TSX Venture Exchange does not accept responsibility for
the adequacy or accuracy of this release.
Certain statements in this news release, other than
statements of historical fact, are forward looking information that
involves various risks and uncertainties. Such statements relating
to, among other things, the prospects for the company to enhance
operating results, are necessarily subject to risks and
uncertainties, some of which are significant in scope and nature.
These uncertainties may cause actual results to differ from
information contained herein. There can be no assurance that such
statements will prove to be accurate. Actual results and future
events could differ materially from those anticipated in such
statements. These and all subsequent written and oral forward
looking statements are based on the estimates and opinions of the
management on the dates they are made and expressly qualified in
their entirety by this notice. The Company assumes no obligation to
update forward-looking statements should circumstances or
management's estimates or opinions change.
SOURCE RenoWorks Software Inc.