UrbanClap raises funding from VC’s of $1.6 million from SAIF Partners and Accel Partners along with other venture capitalists.
The company operates in Delhi NCR region is a platform provides service professionals to the customers. UrbanClap enables users to find any service professional like plumber, electrician, a yoga teacher or a wedding photographer or an interior decorator.
UrbanClap aims to connect user to the best professional who can do exactly what user want at a price they are comfortable in paying. It is simplest way to find and hire trusted services. The company was founded in 2014 by Varun Khaitan, Abhiraj Bhal and Raghav Chandra.
Varun Khaitan is co founder of UrbanClap, has graduated in Bachelor of Technology in Electrical Engineering from Indian Institute of Technology, Kanpur in 2009. He started his career in 2007 as Junior Development Engineer as intern in many companies like Qualcomm and Mazdoor Kisan Shakti Sangathan.
In 2009 he started working in Qualcomm as Engineer, he developed number of algorithms for features like self configuration of femto networks. He worked with the company for 1.8 years and moved as Associate in The Boston Consulting Group. He worked on supply chain remodelling for one of the largest pharma company in the world. He formalised a deal strategy for the largest co brand credit card partnership in the world. In 2013 he became Consultant in the group and he was in the position for 7 months.
Abhiraj Bhal is co founder of UrbanClap. He has graduated in Bachelor of Technology in Electrical Engineering from Indian Institute of Technology, Kanpur in 2009. He got his Master of Business Administration from Indian Institute of Management, Ahmedabad in 2011. Like Varun, he has several stints of internship with companies like Cypress Semiconductor and Mazdoor Kisan Shakti Sangathan.
He joined Boston Consulting Group in 2010 as summer intern and moved on to become consultant of the company in 2011. He was expert in Merger and acquisitions domain. Abhiraj worked with the company for 3 years and found UrbanClap in 2014.
Raghav Chandra is co founder of UrbanClap. He has graduated in Bachelor of Science in Computer Science and Engineering from University of California, Berkeley in 2012. He joined Infosys SETLabs as Software Engineer in 2010. He designed and developed a fact extractor for C# language and Yelp Inc.
In 2012 he joined as Software Engineer in Twitter Inc. He worked with the company for 1.7 years and founded peer to peer auto rickshaw ride sharing platform called Buggi in 2013. The platform allows each driver with a choice to pick up and reject a request and simulates real transactional nature of the industry by allowing them to quote customer prices and also bargains. Later he joined Abhiraj and Varun to found UrbanClap.
The company received their seed funding on April 16, 2015 for $1.6 million from Accel Partners and SAIF Partners along with few individuals Rohit Bansal and Kunal Bahl of Snapdeal.
Raghav Chandra, co founder, UrbanClap said after funding “With the backing of our investors, we plan to scale the platform across hundreds of services and multiple cities.”
Abhiraj says”It was born out of our ambitions to create a large tech business solving a primary customer need in India. We realized local services as an industry is such a central part of our lives but extremely broken. The current solutions haven’t improved beyond phone call lists in the last decade while other adjacent industries are leapfrogging with tech enabled innovation.”
“Being early investors in product e-commerce in India, we believe in the power of a marketplace for services. Meeting the UrbanClap team, we realised how the problem of local services is elegantly solved with smartphone-based reverse auction/booking solution as opposed to a classifieds list,” said Subrata Mitra, Partner of Accel India.
The company employee strength now stands at 25 and has doubling every month; many of their staff is experienced and inexperienced too. Fresh grads from IIT and IIM have joined the company.
However local services in an economy like India have a market size of $50 billion, is one of the few sector growing at lightening pace. Startup companies Doormint, TimeSaverz, Mr.Right, Taskbob and Zepper along with listing portals such as JustDial, Sulekha, YellowPages, and Near.In. Many of these startups and companies have raised funding in recent past.