Total amount raised
$110.7 Millions
Latest funding date
11/01/2015
Location
Handy has successfully raised multiple rounds of funding, with its last being a Series C round. The platform connects users with vetted professionals for various home services, including cleaning, handyman tasks, and home renovations.
Keep reading to explore the intricacies of Handy's fundraising journey and the investors backing this innovative platform.
What Is Handy?
Handy, founded in 2012, is a platform that connects users with vetted professionals for various home services, including cleaning, handyman tasks, and home renovations. The company was established by Oisin Hanrahan, Umang Dua, Ignacio Leonhardt, and Weina Scott.
Headquartered in New York, New York, Handy operates in the United States, Canada, and the United Kingdom. The company employs between 251 and 500 people, providing a quick and reliable way to book pre-approved home service professionals.
How Much Funding Has Handy Raised?
- Series C
- Amount Raised: $50M
- Date: November 2015
- Lead Investors: Fidelity
- Valuation at Round: $500M
- Motivation Behind the Round: To grow Handy's business, improve customer experience, and expand services beyond cleaning.
- Series B
- Amount Raised: $15M
- Date: March 2015
- Lead Investors: TPG Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance service offerings.
- Series B
- Amount Raised: $30M
- Date: June 2014
- Lead Investors: Revolution
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve technology infrastructure.
- Venture Round
- Amount Raised: $3.7M
- Date: January 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and market entry.
- Series A
- Amount Raised: $10M
- Date: October 2013
- Lead Investors: David Tisch, General Catalyst, Highland Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand service offerings.
- Series A
- Amount Raised: $2M
- Date: October 2012
- Lead Investors: General Catalyst, Highland Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the platform and establish initial market presence.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: June 2012
- Lead Investors: Summer@Highland
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's early development and growth.
Total Amount Raised: $110.7M. Current Valuation: $500M.
Key Investors
- Fidelity
- Details: Fidelity is a multinational financial services corporation known for its investment management and financial planning services. It is one of the largest asset managers in the world.
- Investment Focus Areas: Technology, healthcare, financial services, consumer goods.
- Notable Investments: Uber, Airbnb, SpaceX.
- TPG Growth
- Details: TPG Growth is a global private equity firm that focuses on growth capital investments. It is part of TPG, a leading global alternative asset firm.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Airbnb, Uber, Spotify.
- Revolution
- Details: Revolution is an investment firm that partners with entrepreneurs to build significant companies. It was founded by Steve Case, co-founder of AOL.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Sweetgreen, DraftKings, BigCommerce.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in powerful, positive change that endures. It supports early-stage and growth-stage companies.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Stripe, Airbnb, Snap Inc.
- Highland Capital Partners
- Details: Highland Capital Partners is a global venture capital firm focused on early-stage investments. It has a strong track record in technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: 2U, Rent the Runway, Scopely.
What's Next for Handy?
Handy stands at the cusp of significant growth opportunities, driven by its plans to expand into new markets and diversify its service offerings beyond cleaning. With hundreds of thousands of customers and around 10,000 registered professionals, the platform is well-positioned to capitalize on the increasing demand for on-demand home services.
Future fundraising efforts could be bolstered by the company's strong growth trajectory and investor interest in the on-demand services market. However, Handy may face challenges such as legal issues related to worker classification and competition from larger players like Amazon and Google entering the home services space.
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