Handy Receives a 50 Million Dollar Cash Injection

The New York-base company Handy is a platform that offers on-demand housekeeping and other services like furniture delivery and assembly. The company has been extremely popular and recently raised 50 million dollars at a valuation of 500 million for its series C round of funding. They have raised around 111 million in total. Handy has a website, iOS app and android app where people can book household services in the comfort of their homes.

Handy launched in 2012 and on 2015 June has received a total of 1 million bookings on its platform. On any given month, Handy books 100,000 jobs and has around 10,000 professionals registered. This online booking platform has had extremely remarkable statistics and has been on the watch list of many investors.

Handy was in talks to acquire its rival company, Homejoy, but they closed in July 2015. Without any competitors, Handy’s future is extremely bright. Handy makes its money from taking 20% from bookings. Each booking costs on average of $70. Around 80 percent of Handy’s customers are repeat customers.

Handy has been trying to expand to new cities and countries. They are including all of the major cities across the U.S. and also international markets like London. This expanding is planned to happen before the end of 2016.

Handy is a successful company with a very scalable business model. With its new found wealth, they will have all the capital they need to make their company international. Maybe one day Handy will expand into a billion dollar company, and everyone all over the globe will be using it.

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