Home services startups are gaining attention
Investors have been pouring money into upstart companies aiming to help home owners with maintaining and upgrading their properties.
In the past year, at least US$1.4 billion went to such home services startups according to Crunchbase analysis. Some are directly serving retail customers, some provide products to support contractors.
In one of the largest deals, ServiceTitan, which creates software for contractors in plumbing, electrical and other special areas to generate leads and close sales, closed a US$500 million round last month. The firm has raised over US$1 billion so far.
Other transactions include US275 million raised by Thumbtack, an app for finding and hiring local professionals, US$50 million raised by subscription plans provider Super and US$90 million raised by HomeX, which offers virtual support for home repair troubleshooting.
Home services market is estimated to be worth US$500 billion as homes are regularly in need of care and repair and few have the tools and skills to do it on their own.
Though not in the business of cutting-edge technology involving some of the hottest areas like big data, AI, IoT and 5G, many of these home services startups do have a technology spin in their solution offerings to provide something better, cheaper or something different from traditional players.
-- Contact us at [email protected]
-
On education reform Brian YS Wong
If there is one thing that would be unironically uncontroversial to individuals across the political spectrum – it’d almost certainly be the “fact” that Hong Kong’s education system is in need of
-
Tightening media rules on exposés would hurt HK’s global image Michael Chugani
About two years before the 1997 reunification the then Chief Secretary Anson Chan Fang On-sang had an off-the-record briefing with selected media. I was the chief editor of a now defunct English
-
The complexity of emigration Mark O'Neill
Do you want a detached house in West Sussex, a new apartment overlooking the sea in Liverpool or a condominium in Reading? And how about an investment vehicle to minimise payment of British income
-
Our athletes-Hong Kong’s glory A Hongkonger
A historic Olympic Games it indeed has been – the first Summer Olympics to have been postponed by a whole year; the first to have been held during a worldwide pandemic, with masks adorned and social
-
Is lifelong learning just an empty slogan? Victor Kwok,Christabel Chan
As technology advances at an unprecedented pace, Industry 4.0 is revolutionising the way industries operate and changing talent needs. Governments around the world are taking the initiative to
The complexity of emigration
What’s left after the brutal birds shooting in stock market?
Tightening media rules on exposés would hurt HK’s global image
Three observations from China’s RRR cut
Our athletes-Hong Kong’s glory
Game on for green growth
On education reform
US Q2 earnings season preview: Support from the base
