Block AI Welcomes Julie Kheyfets as CEO

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Block, a renovation management software company, has appointed Julie Kheyfets as its new CEO.

This announcement was made in a statement sent to Inman on Jan. 16, indicating that Block is committed to “building the most trusted place to plan and hire for major renovation projects.”

Kheyfets is expected to leverage her experience as Block’s COO, alongside her successful leadership of North American growth at Tractable, an AI platform focused on accident and disaster recovery. Her contributions helped Tractable become the world’s first computer vision unicorn in financial services, with a valuation of $1 billion or higher.

“Trustworthy information about renovating is hard to come by, but it doesn’t have to be,” Kheyfets stated. “Recent advancements in AI allow for accessible professional renovation support, empowering homeowners to make informed decisions and easily hire the right contractors.”

Block offers a mobile and browser-based AI experience that guides users through the complex process of home and apartment renovation projects. It ensures attention to detail and quality, considering project scale and vendor interactions at each stage.

The software, trained on data from various industry sources and past projects, streamlines workflows, enhances communication, and maintains budget controls. It can predict delays and cost overruns, reducing the reliance on costly project planning aspects like architects.

“With access to Block’s network of contractors, homeowners can quickly find the right professionals for their projects, receive easy-to-compare proposals, and confidently hire with Block’s project protections,” the statement added.

Replacing Koda Wang, who served as CEO and co-founder for over seven years, Kheyfets will take on the role of CEO while Wang transitions to Executive Chair but remains on the board. Wang praised Kheyfets as a “rare leader.”

“Julie is incredibly determined and continuously strives to be a better leader each day,” Wang said. “She has been instrumental in shaping the vision of our AI-powered renovation marketplace.”

Block sees the trend of Americans investing in home improvements as a key driver of future success. They referenced a Federal Reserve study indicating over $35 trillion in home equity in the U.S., an 80% increase since 2019, and a report from the Joint Center for Housing Studies (JCHS) at Harvard University showing that home renovation spending has surpassed $470 billion.

Additionally, a report by Axios in September revealed that Americans are moving less, hitting historic lows in relocation rates.

Email Craig Rowe

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