Handybook Raises $10 Million
Handybook is a startup that helps users book preapproved cleaners and handy workers. Handybook has raised $10 million in funding mostly from existing investors led by General Catalyst Partners and Highland Capital Partners.
Handybook co-founder Oisin Hanrahan said that the company started looking for funding in the middle of the summer. The term sheets were signed around six weeks ago and the deal closed around three weeks ago, according to The New York Times.
Handybook raised additional funding because of their growth. The company hit a period where their user base doubled every month for about three to four months. Handybook currently operates in eight cities and will be adding five more by the end of the month. Handybook differentiates themselves from YP.com and Angie’s List by handling most of the aspects of the handyman jobs including scheduling and billing.
“We were at a point where we were doing thousands of bookings a week,” stated Hanrahan in an interview with The New York Times. “Even now, we’re still seeing very strong double-digit growth.”
The average bill is around $85 and Handybook takes a cut before paying the service provider. Around 25% of customers are on subscription plans and another 15% are not on subscriptions, but plan to use the service again in 30 days. Most of the jobs are for housecleaning.