Feb 7, 2023
Home Services Startup Raises $100 Million as Plumbing, Lawn Care Enter Digital Age
(Bloomberg) -- Software startup Jobber, which caters to plumbers, electricians and other home services businesses, raised $100 million in a funding round led by General Atlantic, the Edmonton, Canada-based company plans to announce Tuesday. Jobber declined to give its valuation.
Jobber operates in the US, Canada and other countries, working with small businesses such as HVAC installers and lawn care providers. Its software helps with services like sending quotes, dispatching workers to job sites and invoicing customers.
“The vast majority of these small businesses are going from zero to one with technology,” said Chief Executive Officer Sam Pillar. The company’s goal is to help mom-and-pops and other local companies with few resources increase efficiency and work more effectively online. “You have someone come fix your HVAC or mow your lawn, and they give you an invoice on a scrap of paper — it doesn’t fit your expectations,” Pillar said.
The company said its revenue has grown threefold since it last raised funding two years ago, and it expects revenue to exceed $175 million this year.
Jobber is raising money during a perilous time for both tech startups and the housing market. Technology companies have been slashing staff and watching valuations sink. Meanwhile, sales of previously owned homes in the US fell in December to the slowest pace in over a decade, and new home construction is slipping. Pillar believes that the housing services business will prove resilient, though. “If you’re furnace breaks in the winter, you’re going to fix that regardless of the economic climate,” he said.
Jobber plans to use its funding to develop new tools and to boost marketing and new customer acquisition. Aaron Goldman, managing director at General Atlantic, will join the startup’s board.
“We realized there was a huge amount of inefficiency in the small business market,” Goldman said. “Jobber is at a size and scale that’s interesting, and we think they can build a really big business.”
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