Venture Capital News: Homee Lands $11M Series A Financing
TAMPA, FL, Homee announced today that it has closed an $11 million financing.
Homee, an on-demand property maintenance platform that provides homeowners and property managers with instant access to skilled service providers, announced today that it has closed an $11 million financing, bringing the total invested in the Company to $15 million. The Company experienced dramatic growth over the past year, and the influx of capital will permit Homee to launch new markets and expand its growing vendor network throughout the United States.
Activate Capital Partners, LP led the financing round with the participation of The Home Depot (NYSE: HD), as well as the Company's existing investors, including Florida Funders, FAN Fund, and Bialla Venture Partners. Engage, a venture fund backed by The Home Depot and 10 other leading corporations, also participated in the round.
"Homee is a category-leading, on-demand property maintenance platform that is changing the way homeowners and property managers find, contract, and pay for qualified heating and air conditioning, plumbing, electrical, and general handyman services," said Homee co-founder and CEO, Doug Schaedler. "The new investment from Activate Capital Partners and The Home Depot is integral to Homee's growth, and we are pleased to have them involved with Homee."
Using GPS-enabled smartphone technology, Homee service providers accept new requests under a minute on average and are at the job location for repairs, improvements, or maintenance in an average of 30 minutes or less. Every service provider is background-checked and screened by Homee's operations team and is continually monitored by the app's provider rating system to ensure ongoing quality service.
"We are excited to partner with Homee and believe the Company is addressing fundamental pain points in the industry," said Michael DeRosa, Managing Director at Activate. "Homee's unique approach to market expansion has allowed it to grow quickly and cost-efficiently, and we believe the Company is now positioned to pursue rapid growth in additional markets."
Homee's service is available for any type of property, from homes and condos to offices and restaurants, and the Company counts some of the largest national single-family portfolio companies as its clients. Customers benefit from standardized, lower pricing, and quick, convenient service; service providers benefit from a centralized source of work with no marketing costs.
Based in Tampa, FL, Homee is an on-demand property maintenance service that provides customers with instant access to electricians, plumbers, HVAC technicians, and handymen from the convenience of their smart phones. The Homee app allows users to find GPS-located service providers and request immediate service. For more information or to install the Homee app, search for Homee On Demand in the app stores or visit http://www.homeeondemand.com.
About Activate Capital Partners, LP:
Activate Capital Partners was founded to be the leading growth equity partner to companies providing innovative solutions across the energy, transportation, and industrial technology markets. With offices in San Francisco and Philadelphia, the firm partners with entrepreneurial management teams in high growth companies using technology to transform large industrial markets making the world more efficient, intelligent, and sustainable. The partners have collectively invested over $1 billion across their target sectors, resulting in 30 successful exits through IPO and M&A.
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