Urban Company Raised Funding Worth $193 Million In April 2021

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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