Standard Industries Announces Strategic Investment and Partnership with Data Analytics Leader Loveland Innovations
Standard Continues to Drive Technology Advances in the Roofing Industry
NEW YORK, NEW YORK, May 2, 2018 – Standard Industries, Inc. and Loveland Innovations®, maker of advanced data analytics solutions and drone-based data gathering tools, today announced that Standard has led Loveland’s first round of outside institutional funding. Standard, the parent company of GAF, the largest roofing manufacturer in North America, and Loveland will work together to deploy innovative drone-based solutions for roofing applications.
As the largest roofing and waterproofing company in the world, Standard Industries is focused on bringing new technologies to the roofing industry. Loveland Innovations is a data analytics company and developer of IMGING®, a platform that combines automated drones, A.I., and deep learning systems to give contractors and insurance adjusters safer, faster and more consistent ways to gather imagery, derive measurements, and improve bidding, claims and underwriting workflows.
Working together, Standard and Loveland will focus on deploying drone-based solutions and data capture to create efficiencies for the roofing, property insurance and solar industries. This investment brings together companies committed to bringing a safer and a more efficient way to address business challenges in these industries.
“This is an exciting partnership and further builds on our existing technology investments,” said David J. Millstone, co-CEO, Standard Industries. “Combining our global industry expertise in roofing and waterproofing with Loveland’s data analytics and imaging software, we can bring transformative solutions to the roofing industry.”
“We will continue to search for cutting-edge partners like Loveland so that we can apply technology and software to benefit our leading contractor alliances, serving the residential and commercial space, the property insurance industry and ultimately homeowners,” said David S. Winter, co-CEO, Standard Industries.
“This is a big day for the construction, insurance and solar industries. An investment from Standard Industries is validation from an industry titan and it’s another step toward seeing our vision come to life,” says Jim Loveland, CEO and Founder of Loveland Innovations. “Through close collaboration with Standard's operating subsidiary GAF, we will be able to accelerate the advancement of inspection analytics, which will in turn allow us to revolutionize the industry.”
About Standard Industries
Standard Industries is a privately-held, global, diversified holding company with interests in building materials, aggregates, and related investment businesses in public equities and real estate. With over 15,000 employees and operations in more than 80 countries, Standard’s businesses include: GAF, the leading roofing and waterproofing manufacturer in North America; BMI Group, the leading manufacturer and supplier of flat and pitched roofing systems for the residential and non-residential markets in Europe, parts of Asia, and South Africa; Siplast, a leader in the development and manufacture of the world’s most advanced roofing and waterproofing systems; SGI, a leading North American aggregates and mining company; 40 North, a fundamentally-based investment fund focused on both public equities and third-party managed alternative investments; and Winter Properties, a vertically integrated real estate investment management and development enterprise. To learn more, visit www.standardindustries.com
Loveland Innovations is a team of makers, mavericks, and a few maniacs building leaner, meaner ways to gather and analyze exterior property information. No corporate nonsense, just a get-it-done attitude. Their solutions combine data analytics, A.I., and drones to arm roofing contractors with high quality data, more speed, and better decision-making power. www.lovelandinnovations.com
Justin Strong, Chief Revenue Officer
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