Total amount raised
$508.9 Millions
Latest funding date
Location
Title
Urban Company has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The platform offers a wide range of home services, including beauty treatments, appliance repairs, and deep cleaning.
Keep reading to explore the intricacies of Urban Company's fundraising journey and the investors backing this innovative platform.
What Is Urban Company?
Urban Company, formerly known as UrbanClap, was founded on November 10, 2014, in Gurgaon, Haryana, India. The company was established by Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan.
Urban Company offers a wide range of professional home services, including beauty treatments, home repairs, cleaning, and appliance repair. The platform connects customers with reliable service professionals, providing them with training, credit, product procurement, insurance, and technology.
With a workforce of 1001-5000 employees, Urban Company continues to expand its reach, delivering expert services conveniently to customers' doorsteps.
How Much Funding Has Urban Company Raised?
- Funding Round: Venture Round
- Amount Raised: Not publicly disclosed
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and establish a market presence.
- Funding Round: Series C
- Amount Raised: $21M
- Date: July 2017
- Lead Investors: Vy Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand service offerings and enhance technology infrastructure.
- Funding Round: Debt Financing
- Amount Raised: ₹200M
- Date: April 2017
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs and operational expenses.
- Funding Round: Series D
- Amount Raised: $50M
- Date: November 2018
- Lead Investors: Steadview Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Funding Round: Series D
- Amount Raised: ₹14.9M
- Date: July 2019
- Lead Investors: SAB Holdings, Udhyam Learning Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand service offerings and improve customer experience.
- Funding Round: Series E
- Amount Raised: $75M
- Date: August 2019
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand into new geographic regions.
- Funding Round: Secondary Market
- Amount Raised: $5M
- Date: August 2020
- Lead Investors: Vy Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Funding Round: Series F
- Amount Raised: $188M
- Date: April 2021
- Lead Investors: Dragoneer Investment Group, Prosus Ventures, Wellington Management
- Valuation at Round: $2.1 billion
- Motivation Behind the Round: To innovate, train, and develop products while expanding geographically.
- Funding Round: Secondary Market
- Amount Raised: $67M
- Date: June 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Funding Round: Secondary Market
- Amount Raised: $63M
- Date: July 2024
- Lead Investors: Dharana Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: $469M
Current Valuation: $2.1 billion
Key Investors
- Prosus Ventures
- Details: Prosus Ventures is a global consumer internet group and one of the largest technology investors in the world. It focuses on building leading companies in markets with long-term growth potential.
- Investment Focus Areas: Technology-enabled platforms, high-quality service partners, e-commerce.
- Notable Investments: Delivery Hero, Swiggy, OLX.
- Dragoneer Investment Group
- Details: Dragoneer Investment Group is a growth-oriented investment firm based in San Francisco. It specializes in partnering with management teams to build enduring companies.
- Investment Focus Areas: Digitally unifying fragmented markets, vertical-tailored technology platforms, consumer internet.
- Notable Investments: Airbnb, Spotify, Uber.
- Wellington Management
- Details: Wellington Management is one of the world’s largest independent investment management firms. It serves as an investment advisor to over 2,200 institutions in more than 60 countries.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- Vy Capital
- Details: Vy Capital is a global technology investment firm that focuses on long-term investments in category-defining technology companies. It has a concentrated portfolio of high-growth companies.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Reddit, Zomato, Meesho.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that deploys capital globally in both public and private markets. It focuses on the internet, software, consumer, and financial technology sectors.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Stripe.
What's Next for Urban Company?
Urban Company is poised for significant growth, with plans to expand into the top 100 cities in India and further international markets. This expansion is supported by a recent $255 million Series F funding round, which will be used for innovation, training, product development, and enhanced safety measures. The company aims to scale its operations and invest in technology to meet the growing demand for convenient, tech-enabled home services.
Future fundraising opportunities are likely as Urban Company continues to attract investors interested in its potential for significant growth. However, the company will face challenges in maintaining high-quality service standards across a rapidly expanding geographic footprint and navigating regulatory environments in new international markets. Ensuring the safety and training of a growing number of service partners will also be crucial as the company scales.
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