UrbanClap raises funds of $10 million


UrbanClap - Funding - Main Feature 1UrbanClap raises funds from SAIF Partners and Accel Partners for Series ‘A’ Funding. The company based out of Delhi. The company helps to find and hire services. There mobile platform for customers to find professional for this personal activities and needs. Right now UrbanClap is available in Android environment.

The company is a hyperlocal startups offers two models, one is standardized called blue collared services. Under these services electricians, home cleaning, plumbers are classified. Another offering of the company where services like photography, French or German language teachings, interior designer services or yoga instructors are classified under white collared services.

UrbanClap has developed the platform where the services are automatically matched with the help of advanced algorithms and analytics. Apart from these UrbanClap does a background check and police verification of all its professionals whom they onboard on their platform.

UrbanClap - Funding - Main Feature 2Thereby UrbanClap ensures the customers find and hire trusted services professionals for their services at their office or residences. The company vision to use technology and smart processes to structure the highly unorganized services market in India and emerging markets. UrbanClap’s vision is to make hiring a service professional as easy as buying products online.

UrbanClap secured funding first time in April, 2015 when they received their seed funding of $1.6 million from promoters of Flipkart Rohit Bansal and Kunal Bahl along with Accel Partners and SAIF Partners. On 29 Jun 2015, they secured $10 million funding as Series ‘A’ from Accel Partners and SAIF Partners.

UrbanClap plans to utilize the funds for strengthening its technological offering and increasing their employee base from 100 employees to 500 employees. They plan to expand their services in several cities are planned in phased manner shortly.

UrbanClap - Funding - Main Feature 3Hyperlocal services space is witnessing lot of actions in terms of funding nowadays. Bengaluru based Housejoy secured funding of $4 million from Matrix Partners. Another Bengaluru based startup Urbanpro raised funds from Nirvana Venture Advisors for $2 million. LocalOye.com, a Mumbai based two year old startup has secured funding of $5 million from Lightspeed Venture Partners and Tiger Global Managements.

UrbanClap has to compete with other startups like Localoye, UrbanPro, Housejoy, Taskbob, Findyahan and Oyk. These startups have received funding at various stages of their businesses from leading PE investors.