UrbanClap has raised a Series B round of funding of USD 25 M. The round is led by Bessemer Venture Partners, with participation from existing investors Saif and Accel Partners. Earlier this year, UrbanClap had raised US$ 12 M across two rounds from Saif and Accel Partners.
UrbanClap is a one-stop-destination for trusted services. Whether you are looking for a plumber, a beautician, a yoga trainer or a wedding photographer, UrbanClap helps you hire these services with the click of a button. All you have to do is give your requirements within seconds on the UrbanClap app or website, and the platform will bring these professionals to you.
Talking about the latest round, Abhiraj Bhal, Co-founder of UrbanClap said, “UrbanClap is redefining how services are hired and consumed in India. Today, we serve 5000 customer requests per day, and have built a base of 20,000+ service professionals – who together represent the gold standard for trusted services in India. Every month, UrbanClap sends them business worth US$200M annually (current run rate)., from small carpentry jobs worth INR 200, to a large interior designing assignments worth several lakhs. This is a winner take all market – there is no place for second best. With this round of funding, we are well positioned to build a very large company that Indians love, and make their everyday lives easier.
“We will use these funds to further strengthen our leadership position in the space and spread expand across all major cities in India. By the same time next year, we are aiming to have over 100,000 professionals on the platform and serve over 100,000 customers every day. UrbanClap will become synonymous with the word services for urban customers and professionals across the country,” he added.
Headquartered in Gurgaon, UrbanClap offers services in 75+ categories across Delhi NCR, Bengaluru, Mumbai, Chennai and Pune. The company plans to extend its offering to 25 cities and 100+ categories over the next one year. Further, the round will be used to increase its team size from 300 currently to about 600. The funds will also be used by the company to make some strategic acquisitions.
Vishal Gupta, MD, Bessemer Venture Partners, said, “The UrbanClap founders have built a great team, which is executing very aggressively. They are building a service India needs. Further, they are amongst the most frugal and capital efficient companies we have met, with strong long term focus. We look forward to partnering with them and creating a large business.”
