![]() | This article contains content that is written like an advertisement .(March 2021) |
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Type of business | Private |
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Type of site | Online marketplace |
Founded | November 2014 |
Headquarters | Gurgaon, Haryana India |
Area served | Within India: Ahmedabad, Bengaluru, Bhubaneswar, Chandigarh, Chennai, Delhi NCR, Hyderabad, Indore, Jaipur, Kanpur, Kolkata, Lucknow, Ludhiana, Mumbai, Nagpur, Pune, Surat, Vadodara, Patna and Visakhapatnam Outside India: Dubai, Abu Dhabi, Sydney and Singapore |
Founder(s) |
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Industry | Consumer service |
Revenue | ![]() |
Employees | 1,000 (May 2020) |
URL | www |
Urban Company (formerly known as Urban Clap) is an Indian gig marketplace that offers home installation, maintenance and repair services, and home beauty and wellness services. [2] In 2014, the company was founded by Abhiraj Singh Bhal, Varun Khaitan and Raghav Chandra. [2] [3] In May 2020, Urban Company reported an operating revenue of INR 216 crore and its valuation was at INR 918 crore; the company followed the I-GAAP accounting method. [4] In FY20, the home maintenance and repair services contributed 45% of total revenue and the beauty and wellness services contributed 55% of total revenue. In March 2020, the company was servicing 22 locations within and outside India, had a network of 25,000 professionals, and were performing 800,000 service tasks every month. [5]
In 2013, Abhiraj Bhal and Varun Khaitan left their jobs at the Boston Consulting Group in the United States and returned to India to launch their own venture. Raghav Chandra, who earlier worked at Twitter, Inc., also returned to India around the same time to pursue entrepreneurship. The three got together and invested INR 10 lakh each to launch UrbanClap, a hyperlocal home service platform. [6]
In April 2015, Urban Company secured its seed fund of US$1.6 million from SAIF Partners and Accel Partners. [6] In June 2015, Urban Company raised US$10 million in Series A funding from its existing investors, SAIF Partners and Accel Partners. [7] In November 2015, Urban Company raised US$25 million in a Series B round of funding led by Bessemer Venture Partners, SAIF Partners and Accel Partners. [8] In July 2018, Urban Company raised US$50 million in a Series C funding round led by Steadview Capital and Vy Capital. [9] In May 2019, Urban Company raised US$50 million in the Series D funding round led by Steadview Capital. [10] In August 2019, it raised US$75 million in the Series E funding round led by Tiger Global Management. [5]
In addition to institutional funding, Urban Company attracted individual investments from Rohit Bansal and Kunal Bahl, the founders of Snapdeal. [11] In November 2015, Ratan Tata, a former chairman of Tata Sons, invested an undisclosed amount in Urban Company and joined its board as an adviser. [12] In 2019, as a part of the Series D funding round, Kalyan Krishnamurthy, the CEO of Flipkart, invested INR 1.6 crore in the company. [13] In April 2021, regulatory filings revealed that Urban Company had turned into a Unicorn (startup companies with over $1Bn valuation), with a fresh $190Mn fundraise. [14]
In 2016, Urban Company acquired HandyHome, a services marketplace that facilitated online bookings of repairs and services for electronic appliances. [15] In the same year, Urban Company acquired GoodService, a hyperlocal startup offering services over a messaging platform. [16] [5] In March 2020, Urban Company acquired the assets of Glamazon, an Australian on-demand beauty services provider. [5] In July 2019, Urban Company partnered with National Skill Development Corporation to train 30,000 services professional under short-term skilling and upskilling programs, and to create micro-entrepreneurship opportunities for services professional who were already certified under Pradhan Mantri Kaushal Vikas Yojana. [17] Urban Company was recognised as a key partner of the National Skill India Mission. [17] [18]
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