Technology Spotlight: An Interview with ResVR

As part of Beaumont Bailey’s mission to connect founders, innovators and key players that make up the fabric of our industry, our latest Technology Spotlight series highlights the successes of our incredible members and wider network. In this instalment, we speak with Nathan Nasseri, CEO & Founder of ResVR.

Tell me a little bit about ResVR and your role there…

About 11 years ago, I switched careers and started working in the home building industry, selling new homes. During this time, I realised that new home buyers had a difficult time understanding the various products to be installed in their homes and visualising what their house would look like. This was especially challenging as they were making the biggest purchase of their lives based on construction blueprints or simple drawings, which are difficult to interpret even for industry experts. This experience led me to use gaming technology to help buyers understand their options better.

I started my first company while still selling houses, initially called Real Estate in Virtual Reality, later rebranded to Real Estate Innovation. We focused on VR and completed over 200 VR projects across Western Canada and the Western United States. However, we realised that VR was gimmicky and not widely adopted, so we pivoted to a web-based version of our services. Shortly after this pivot, we were acquired within about six months.

Today, I’m starting my old company over again with my team, leveraging significantly more powerful technology. The advancements in technology over the past five years have been substantial, and I’m excited to bring these innovations back to the home building industry. Additionally, I now have the experience to avoid repeating past mistakes, which will help in doing business more effectively.

Looking a little closer at the technology, what problem does ResVR solve?

We’re using video game technology, specifically Nvidia graphics cards and Unreal Engine, to solve significant problems in the home building industry. Unreal Engine, typically used for visual effects or gaming, has been repurposed by us for sales, marketing, and design software for home builders. Our team has extensive experience in gaming, with our art director Sasha, who won a BAFTA for his visual effects work on Game of Thrones: House of the Dragon, and also worked on the Star Wars Ahsoka show.

We have some of the best artists in the world working at our company to make these houses look exactly like they would in real life, eliminating any guesswork for the home buyer. Buyers can see precisely what their options will look like and design their house in real-time. This technology, which has never been used in home building to this level, is now making it possible for buyers to visualise and customise their homes accurately.

How does your technology differentiate from other products in the market?

Our technology differentiates itself from other products in the market by being purely software-based, allowing our clients to create their own renderings without involving us. This approach enables us to offer a subscription-based business model, providing flexibility and ongoing support for revisions. Over the past year and a half, we’ve built our technology from the ground up to accommodate the frequent changes that are common in the construction industry, such as plan modifications, product availability issues, and evolving trends and tastes.

Previously, when changes occurred during the production phase, we had to charge customers extra, which often strained our relationships. To avoid this, we designed our new technology to handle revisions seamlessly, ensuring that our customers can make necessary updates without additional costs or conflicts. This proactive approach fosters a positive partnership and enhances customer satisfaction.

How is the funding industry currently?

The funding industry is currently very challenging, and raising capital is more difficult than ever. To succeed, you need a compelling pitch deck that looks professional and stands out. It’s crucial to understand and clearly communicate your value proposition. If you can’t demonstrate compelling numbers, VCs won’t be interested.

Raising funds is almost like a game where you have to check every box on the VC’s checklist. You need to dedicate full-time effort to fundraising. For us, this meant putting in eight hours a day, five days a week for three months. I took hundreds of meetings to get our raise completed. Even when you don’t hear back or get passed over, many VCs may refer you to others, which keeps your schedule full and increases your chances.

Looking back at my calendar earlier this year, it’s incredible to see how many meetings I was managing, but that’s what it took to complete our funding raise.

If you would like to discuss any of the topics raised in this piece or if you need support with your leadership resourcing strategy, please get in touch with Emma Callahan on: emma.callahan@beaumontbailey.com.