Bangalore Based Home Services Marketplace Housejoy Raises $4Mn In Series A From Matrix Partners

Bangalore-based Housejoy has raised $4Mn in Series A round of funding from Matrix Partners. The company provides home services to users on-demand. The said funds will used to scale the company’s technology and expand to new cities as well.

The company was launched January this year by Arjun Kumar and Sunil Goel and it claims that it has been growing 30-40% on a weekly basis and is fulfilling around 1500 orders a day. It has also partnered with 2000 service providers across eight cities on its platform and is increasing its reach to two cities this month. The company takes a 10-25% cut of the service depending on the service it provides.

Along with this development, the company is currently in talks to raise another Series B round and given the rise of home services economy this seems imminent. The industry has witnessed a rapid rise as 69 startups were founded in 2014 alone. Company’s competition include Localoye, UrbanPro, UrbanClap, Taskbob and Qyk which have raised seed funding from institutional and angel investors.

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