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Venture Capital News: Spruce Announces $26M Series B Round

AUSTIN, TX, Leading lifestyle service provider Spruce has secured $26 million in a Series B funding round.
Leading lifestyle service provider Spruce has secured $26 million in Series B funding as part of its next phase of growth and is tapping seasoned technology executive Steven Pho as its new CEO. Pho has been a director on the Spruce board for nearly two years and will now bring his experience from leading companies like Favor Delivery and RetailMeNot to Spruce. Founder and current CEO Ben Johnson will assume the role of President.

Spruce's Series B round is led by Sweat Equity Partners, with participation from SoftBank Corp., Mercury Fund, Fitz Gate Ventures, Seamless Capital, Raven One Ventures, and New Age Ventures.

Spruce is the comprehensive provider of lifestyle services to the multifamily industry. The proptech company currently offers Housekeeping, Chores, Pet Care, and Laundry to residents at more than 2,300 select apartment communities throughout the country. Through the Spruce app, customers are able to quickly book services from certified, insured, and background-checked professionals. Spruce is focused on delivering the highest-quality services on-demand.
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