Handy, a platform that helps individuals find industry leading, pre screened independent service professionals that specialize in things ranging from cleaning to handyman services, recently announced they had raised $50 million in new funding to aid in expanding their business.
Handy, formerly known as Handybook, connects its customers with professionals that can deliver the services clients are searching for. They provide a simple sixty second booking process and offer a 100% money back guarantee. The company was developed by Oisin Hanrahan and Umang Dua who found the process of finding handymen and home service providers both tedious and difficult and saw a market for a product that could eliminate the hassle for both customers and professionals alike.
Fidelity Management led the new round of funding by partnering with existing investors including TPG Growth, General Catalyst, Highland Capital and Revolution Growth to bring the total amount invested in Handy to a nearly $111 million. Since the company’s start in 2012 they have completed 1 million bookings which is around 100,000 jobs per month to their hundreds of thousands of customers. The future plans for the company include more investment in the 28 markets that are already active in major cities across the United States and a few international locations including London, then move forward with the expansion of the company into new markets and more countries by the end of 2016.
While it was clear that Handy was on the rise in their market, it was a pleasant surprise to see just how lucrative the company was considering some of their main competitors were unsuccessful at remaining on the market. While the company has had a few growing pains as they have expanded, they are rolling out a few new features and initiatives that will ensure a smoother operation for customers and professionals alike.