Home Service Provider Housejoy Secures $4 M from Matrix Partners

On -demand home services marketplace Housejoy has raised $4 million in Series A funding from Matrix Partners. The raised investment would be channelized towards scaling the company’s technology and expand its services to new cities.

The company was launched in January 2015, and as per a report by ET, it has been growing 30-40% week on week. It has partnered with 2000 service providers across 8 cities and processes about 1500 orders everyday.

Arjun Kumar, Co-founder, Housejoy, said, “Our basic premise was that listing sites were not working for customers nor service providers, so the problem was ripe for disruption.”

Commenting on the deal, Vikram Vaidyanathan of Matrix Partners stated, “India has a large home services economy. The next large horizontal marketplace is going to be a services marketplace. Housejoy has become an early leader by ensuring high quality trained service providers, tech-enabled matching and scheduling to ensure availability and reliability, and building transparency in pricing.”

The market for on-demand home services is witnessing a surge with the emergence of a number of new players with their respective models. Housejoy’s competition includes, LocalOye, UrbanPro, UrbanClap, Taskbob, and Qyk. However, according to Vikram, the major difference between Housejoy and its competitors is that “it’s a full-stack marketplace. They are taking ownership of the user’s problem and guarantee that the service provider shows up.”