On-demand home service provider Handy has raised $50 million for its series C round of funding, led by Fidelity Management and Research Company.
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has raised $50 million for its series C round of funding, led by Fidelity Management and Research Company. The company said that this new investment will help solidify its position as a market leader in the home services space across the United States and the United Kingdom.
Other investors in this round include existing ones like TPG Growth, General Catalyst, Highland Capital, and Revolution Growth.
Founded in 2012 by Oisin Hanrahan, Umang Dua Ignacio Leonhardt, and Weina Scott, Handy connects you with top-quality, prescreened independent professionals who can help clean and repair your home. Although the company has competed against the likes of Execand Homejoy, it’s one of the few that remains standing.
“Our vision has been simple — to connect customers to professionals of virtually every home service with the tap of a button,” said Handy chief executive Hanrahan. “With well over one million bookings completed through the platform, we have shown the need for a seamless, reliable, and convenient on-demand alternative. With this recent funding round, we will continue to increase our presence in each of our cities, offer more home services, and improve the platform to continue to deliver the experience that the hundreds of thousands of people using the platform have come to expect of us.”
Indeed, the timing of Handy’s investment is interesting: following the shutdown of one of its main competitors, Homejoy. That company was plagued by worker classification lawsuits and also by being unable to raise enough funding. With a model similar to Homejoy’s, Handy isn’t immune to lawsuits and is in fact dealing with at least one such case.
Handy said that its company is growing, with over 1 million cumulative bookings in June alone, 80 percent of which were from repeat customers. Additionally, its 10,000 “independent professionals” complete 100,000 bookings every month.
To date, the company has now raised over $110 million. The funding also comes on the heels of hiring Ben Kelly, Birchbox’s former director of data science. Kelly is filling a similar role, where he’ll be using analytics and data to try to improve the efficiency of Handy’s matchmaking service.
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