Urban Company revolutionizes home services through its innovative platform connecting customers with skilled professionals. Founded in 2014 by Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan, it offers a range of services from spa and salon to plumbing and photography. With revenue streams including commissions, lead generation, and ads, it rapidly expanded post-pandemic, catering to diverse market segments. With $380 Mn raised over 11 rounds, including a significant investment from Prosus Ventures, Urban Company’s exponential growth and valuation of $2Bn showcase its trajectory as a leader in the home services industry. Explore the latest on Urban Company funding.
Urban Company Overview
- Urban Company is a pioneering developer of a home service platform facilitating seamless connections between customers and skilled professionals.
- Founded in 2014 by Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan, it has transformed the landscape of home services.
- The platform offers a diverse range of services including spa and salon treatments, plumbing, professional photography, servicing, repairs, and more.
- Revenue streams primarily include commissions from service providers, lead generation, platform advertising, and reverse auction mechanisms.
- Urban Company experienced rapid growth, particularly in the Post-Pandemic Period, by offering various price points to cater to a wide market spectrum.
- Their strategic approach of accommodating different price segments contributed to tapping into a market valued at around $12 Bn. This showcases their adaptability and market penetration capabilities.
Funding History
- Urban Company’s Remarkable Growth: Over the course of more than 8 years and 11 rounds, Urban Company has secured a total funding of $380 Mn, showcasing its impressive journey in the home services industry.
- Major Investments: In April 2021, Urban Company attracted significant investment from Prosus Ventures, raising a staggering $193 Million. This influx of capital underscores the confidence investors have in Urban Company’s business model and growth prospects.
- Financial Milestones: Urban Company’s financial performance has been remarkable, with its revenue doubling from $17.7 Mn in FY 19 to $35.2 Mn in FY 20. Additionally, it has set its sights on achieving a valuation of $2Bn, indicating its trajectory towards becoming a market leader.
- Diverse Investor Base: Urban Company has attracted support from a diverse array of investors. Notable names include Bessemer Venture Partners, Tiger Global Management, Vy Capital, Trifecta Capital Advisors, and Steadview Capital, among others. These lead investors have played a crucial role in fueling Urban Company’s growth and expansion initiatives.
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