In a round of funding led by Amazon that included new investors Vertex Ventures, Qualcomm and Ru-Net Technology Partners and existing investors Matrix Partners India, online home services provider Housejoy raised Rs.150 crores in series B funding round.
Variety of online services from plumbing, electrical services, home cleaning, laundry, dry cleaning to specialized beauty services like in-house bridal make up are provided by Housejoy. Housejoy was founded in January 2015 by Sunil Goel and Arjun Kumar, both veterans in the services industry.
Ex VP– Products at Flipkart Saran Chatterjee is now the CEO of this company, Saran said, “This is a significant milestone for Housejoy in its journey. This round is a great validation of our growth, team strength and ability to execute in these short nine months. We will build out our team aggressively and are open to partner with companies in the ecosystem to deliver customer delight.”
Amit Agarwal, VP and Country Manager at Amazon India, said,
“Housejoy seeks to provide customers with a differentiated experience in shopping for home services. This aligns with our mission in India—to transform the way India buys and sells.”
Sunil, Co-founder of Housejoy, said, “Our new investment partners open up many new possibilities for market expansion, introduction to new partnerships and best practices in running a sustainable business. We look forward to the next stage of growth.”
In a growing competitive online market, Housejoy has emerged as a prominent competitor.UrbanClap which recently raised $25 million Series B funding from Bessemer, SAIF, and Accel Partners and also got the backing of Ratan Tata, is Housejoy’s most prominent competitor.
The company is working to provide a station for 100,000 jobs per day and for that it will use the funds to upgrade its technology to build an efficient team.
Although Housejoy was unable to maintain their workforce and generate profits earlier,at present it is in a great position to compete.