Company Name : UrbanClap
Funding Amount : Rs 165 crore
Investor(s) Bessemer Venture Partners, Accel Partners, SAIF.
Funding Round : Series B.
UrbanClap has raised $25mn (Rs 165 crore( from Bessemer Venture Partners. Existing investors Accel Partners and SAIF also participated in the funding round.
Abhiraj Bhal, Co-founder of UrbanClap, said, “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.”
He further added, “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.”
After the newly raised funds, the company is now valuated at more than $100 million. So far, the company has raised close to $37 million.