Rebuild, a software company selling an AI operating system to property restoration contractors, raised more than $13 million in a round led by Asymmetric Capital Partners. The financing, which Asymmetric calls a Series A, targets the paperwork bottleneck that determines how fast restoration firms get paid by insurers - a constraint that makes estimating speed and accuracy directly convertible into revenue.
The round was announced on 15 September, with Gutter Capital, 25madison, Lightbank, and Green Egg Ventures also participating. A notice from law firm Orrick, which advised Rebuild on the transaction, dates to 16 September and puts the figure at $13 million. A separate SEC Form D filed on 29 January 2025 shows an earlier raise of roughly $2.1 million from six investors, with a first sale date of 14 January 2025. No cumulative funding total or valuation has been published.
Why restoration is a paperwork business
Property restoration occupies a strange corner of construction. A pipe bursts, a roof fails, or a fire damages a floor, and a contractor arrives to dry the site, tear out ruined material, and rebuild. The trades involved - demolition, framing, drywall, mechanical, finishes - are standard. What is not standard is the payment chain. The customer is not writing the cheque. An insurer is, and the insurer pays against a line-item estimate that must survive an adjuster's review.
Asymmetric's investment note sizes the sector at $100 billion in the U.S. The bottleneck, both firms argue, is not how fast crews work. It is how fast an estimator can produce a defensible document and how much of the completed work survives the adjuster's scrutiny. A faster, better-evidenced estimate shortens the cash-conversion cycle. That is a working-capital argument, not a productivity argument, and small contractors tend to buy those more readily.
What the product claims to do
Rebuild's pitch is that the estimate should be finished before the estimator leaves the building. The company's site says the software "enables your team to write accurate, high-dollar value estimates in a fraction of the time" and "cut your cycle time in half and increase your revenue per job." Asymmetric describes the workflow as paperless: "what used to be a multi-day process of documenting storm and water damage now takes a few clicks before a compliant report goes out to a carrier like Chubb."
Rebuild reports that its customers are "cutting claim cycle times by more than 50% while increasing reimbursements by over 10%," and that the business has "grown revenue nearly 5x over the past year." The company's site separately says customers "see a 12% revenue increase on average." No independent audit, methodology, or sample is provided for these figures. The revenue growth multiple is stated without a base.
On adoption, the company says Rebuild "is now used by operators across some of the largest restoration networks in the country, including Servpro, ServiceMaster, and Belfor." That wording describes individual franchise operators, not corporate-wide deals. Asymmetric's note goes further, describing "named accounts at ServiceMaster, Belfor, ServPro, PuroClean, and Core." Rebuild's own site names three smaller customers directly: Titan Restoration, Revive Restoration, and TWM Water Restoration.
A founder who built it for the family business
Founder and CEO Alex Toporek "grew up around his father's restoration business in the Northeast and saw firsthand how much time experienced operators lost to paperwork, estimating, and insurance administration - time that ultimately delayed recovery for homeowners," the announcement says. "Toporek initially built Rebuild to solve those problems inside the family business. Since adopting the technology, the company has reduced its own claim cycle times by more than 70%."
That is both a strong signal about product fit and a small sample. Asymmetric's note adds that Toporek "built his commercial instincts at 25madison and DoorDash," and that co-founder John Reim and head of engineering Jack Walters spent their careers at Block, Zillow, and Meta. 25madison, listed among the investors, is also where Toporek previously worked.
What the investors are betting on
Rob Biederman of Asymmetric makes a unit-economics argument: "This product creates unparalleled value for its customers, on the order of 50 to 100x ROI." That is an investor's estimate, not an audited figure, and no methodology is provided.
Dan Teran of Gutter Capital stacks three macro bets: "Rebuild stands at the intersection of three macro trends; the restoration industry is undergoing generational transformation, extreme weather events are on the rise, and AI unlocks the potential for software to actually do work for SMBs. These three factors made Rebuild a standout opportunity for Gutter."
Why this matters for finance, insurance, and real estate professionals
Rebuild is not selling construction management software. It is selling a tool that shortens the distance between a walkthrough and an approved insurance scope. For restoration contractors, documentation is revenue. A better-evidenced estimate means a larger cheque, and a faster one means a shorter cash-conversion cycle. That makes the product a working-capital play, which is why the investor ROI language is framed in those terms.
For insurance carriers and adjusters, the implication is that the quality and speed of incoming estimates may rise as these tools spread through contractor networks. For real estate owners and property managers, faster claim cycles mean shorter business interruption after water or fire damage. The distribution challenge - a market served largely by small franchise operators - has historically kept restoration tech under-capitalized relative to the sector's size. A product that can be sold to a single operator on the strength of one job changes that sales motion.
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