Home services SaaS company Workiz announced this week it has raised an oversubscribed $13 million Series B round. Including this round, the company has raised more than $20 million since its founding in 2015.
Workiz offers an all-in-one business management suite for home services pros. It calls itself a field services management and communications platform. It’s performance over the past couple of years probably explains the oversubscribed round. Workiz says it doubled both its revenue and customer base in 2019 and 2020. The latter was a bad one for most of us but a pretty good one for many home services professionals. They benefitted from suddenly home-bound consumers looking at their cracked molding, cluttered basements, and dingy carpeting.
This year also pushed pros to drop their clipboards in favor of technology that allows them to schedule appointments, process estimates, and accept payments remotely. Much of this pressure came from consumers who insisted on contactless everything.
Home Services Roots
The company has real roots in home services. It was founded by three friends, Saar Kohanovitch, Dan Kadosh, and Erez Marom. Two of the founders are former home services business owners who tired of overpaying for leads and lacking the software tools to run their businesses efficiently. Or so goes the lore on the company’s “About Us” page.
Today the company has more than 100,000 service professionals using its tools, across the United States and Canada. To date, more than 12 million jobs have been scheduled on the platfor. And users have sent more than 100 million text messages. And most critically, they’ve earned more than $5 billion in job revenue through Workis since its inception.
The company’s current CEO suggests the new money will go to more R&D. Since, he says, that’s what got the company to where it is.
“What started as a venture between friends now spans multiple industries and locations across North America. This new round of funding highlights the momentum that has kept growing since our launch in 2015, thanks to our ongoing commitment to R&D focused on empowering home service professionals through technological capabilities,” said Workiz CEO Adi (Didi) Azaria.
“While the home services industry has traditionally lagged in digital adoption, we aim to use these new funds to harness opportunities to provide clients with the transformative technologies they need to elevate the customer experience they deliver and reimagine their businesses through innovation.”
The B round is led by New Era Capital Partners. Its Managing Partner Gideon Argov will join the Workiz board. Other investors include Aleph, Magenta Venture Partners, Maor Investments, and TMT Investments PLC.
“Field service management is a market ripe for disruption, with a technological approach that is both agile and competitive,” Argov said. “In Workiz, we found all the elements for success, coupled with passionate leadership that started from the field..”
A Full Stack for Locksmiths and Carpet Cleaners
Workiz offers a pretty comprehensive all-in-one tool for home services pros. The stack breaks down into five buckets. Scheduling, payments (including a Quickbooks integration), communications (includes texting, click to call, and call tracking), people (includes team messaging and GPS tracking), and customer support. The company prices the product based on users. A one or two-person operation pays $65 per month and a company with 15 pros pays $299 a month. The company’s hook is a 14-day free trial with no credit card required.
The company has relied on integrations to build out its platform. In addition to Quickbook, Workis connects with Zoom, Mailchimp, Google Calendar, and ComapnyCam. The company also recently partnered with Gusto to add a payroll/HR layer to its solution.