tracxn report : local services
TRACXN REPORT : LOCAL SERVICES April 2016
Tracxn World’s Largest Start-up Research Platform
2 Local Services – April 2016
Contents Topics
Page
Sectors We Track
04
Overview
05
Tracxn BlueBox
10
Company List
23
Team
401
3 Local Services – April 2016
Illustrative Sectors We Track ENTERPRISE INFRASTRUCTURE
CONSUMER
MOBILE
ENTERPRISE APPLICATIONS
SECURITY
MARKETPLACES
MOBILE COMMERCE
SAAS
STORAGE
SUBSCRIPTION COMM.
MOBILE PAYMENTS
MOBILE-FIRST ENT. APPS
NETWORKING
FASHION TECH
MOBILE MARKETING
INTELLIGENT ENT. APPS
MOBILITY
INTERNET FIRST BRANDS
MOBILE DEV TOOLS
OPEN SOURCE
IT OPS
LOCAL SERVICES
MOBILE HEALTH
RETAIL TECH
CLOUD INFRASTRUCTURE
FOOD TECH
MOBILE GAMING
MARKETING TECH
API MANAGEMENT
TRAVEL
MOBILE LEARNING
STEALTH MODE
BIGDATA INFRASTRUCTURE
GAMING
MOBILE COMMUNICATION
VERTICAL SAAS
TECH
FINTECH
EDUCATION
HEALTHCARE
INTERNET OF THINGS
BITCOIN
EDUCATION IT
LIFE SCIENCES
3D PRINTING
PAYMENTS
SELF LEARNING
DIGITAL HEALTH
4 Local Services – April 2016
Sector Overview Scope of report This report covers companies operating in Local Services market that provide web/mobile platforms for consumers to discover and book services/service providers for home services (i.e. cleaning, repair, painting, landscaping, remodeling etc.), personal services (laundry, beauty, massage, fitness), auto services, caregivers and technical support. It excludes offline first companies, classifieds, local shopping, transport services and hyper local delivery players operating in Food industry. The sector saw over $4.75B invested through 844 rounds1, with close to $2.69B invested in 2015/162. Companies operating in horizontal space accounted for most of funding closely followed by Home Services and Personal Services segment.
• Horizontal - 157 investments worth ~ $1.3B • Home Services - 230 investments worth ~ $1.2B • Personal Services - 230 investments worth ~$856M Most active funds • • • • • •
500 Startups – (StyleSeat, TaskRabbit, MyTime, KFit) Y Combinator – (YourMechanic, BuildZoom, Eden) Sequoia Capital – (Thumbtack, To8to, Houzz) Matrix Partners – (To8to, Edaixi, Care.com) Great Oaks Venture Capital – (Houzz, YourMechanic, Vive) SV Angel – (ClassPass, Alfred Club, iCracked) 1. All data and analysis in the report is based on Tracxn’s current coverage 2. Only YTD data is considered for 2016 throughout the report
5 Local Services – April 2016
Sector Overview – Funding Activity Notable investments in last six months • • • • • • • • • • • • • • • • • • • •
Zeel (PS - M&B - Massage - At Home - Marketplace) - $10M in Series A funding led by Emil Capital Partners – Mar 24, 2016 ServisHero (Horizontal - Reverse Auction) - $2.7M funding led by Golden Gate Ventures – Mar 20, 2016 Meilijia (PS - M&B - Beauty - Parlour Appointment) - $9.2M in Series A funding led by Fuhai Yintao Asset Management – Mar 14, 2016 Soothe (PS - M&B - Massage - At Home - Marketplace) - $35M in Series B funding led by The Riverside Company – Mar 9, 2016 YourMechanic (Auto Services) - $24M funding from SoftBank, Lerer Hippeau and others – Mar 1, 2016 MakeSpace (Storage - B2C) - $17.5M in Series B funding led by Harmony Venture Partners and Upfront Ventures – Feb 24, 2016 Taskbob (HS) - $4.5M in Series A funding led by IvyCap Ventures – Feb 21, 2016 KFit (PS – F&T - Fitness Center - Marketplace - Subscription) - $12M in Series A funding led by Venturra Capital – Jan 31, 2016 Booster Fuels (Fuel Stations - Delivery) - $9M in Series A funding round led by Maveron – Jan 28, 2016 Uyess (HS - Electronics) - $8M in funding from Thunderstorm Capital – Jan 13, 2016 CellSavers (Tech Support - Marketplace) - $3M in seed funding from Sequoia Israel – Dec 21, 2015 Housejoy (HS - Horizontal - Marketplace) - $22.4M in Series B funding led by Amazon – Dec 17, 2015 17House (HS - Improvement - Reverse Auction) - $31M funding from Pai Hui Xinquan investment capital – Dec 16, 2015 IKongJian (HS - Improvement - Marketplace) - $21M in Series B funding led by Shanghai Greenwoods Investment Management – Dec 14, 2015 Quancheng Relian (PS – F&T - Fitness Center - Marketplace - Subscription) - $15.6 in Series B funding from Matrix and Legend Capital – Dec 4, 2015 UrbanClap (Horizontal - Marketplace) - $25M in Series B funding led by Bessemer Venture Partners – Nov 19, 2015 ClassPass (PS - F&T - Fitness Center - Marketplace - Subscription) - $30M in Series C funding led by Google Ventures – Nov 11, 2015 Handy (HS - Horizontal - Marketplace - Closed Marketplace) - $50M in Series C funding led by Fidelity Management – Nov 2, 2015 BuildZoom (HS - Improvement - Reverse Auction) - $10.6M in Series A funding from Formation 8, Y - Combinator and Peter Thiel – Oct 14, 2015 58Daojia (Horizontal - Marketplace) - $300M in Series A funding from Alibaba Group, global investment firm KKR and Ping An Group – Oct 13, 2015 Abbreviations: HS – Home Services, PS – Personal Services, M&B – Massage & Beauty, F&T – Fitness & Training
6 Local Services – April 2016
2015 saw the highest amount of funding with total investment of $2.3B YoY Funding* 3000
336
• 2015 saw an increase of 176% in the amount of funding received compared to 2014
350
$2689M
263
191 1500
175
106
$868M
750
88 61
48
0
21
24
$124M 15
$39M
$110M
2008
2009
2010
$303M
$217M
$262M 0
2011
Cumulative Funding ($M)
2012
2013 No of Rounds
*Funding Value based on disclosed deals 2016: $296M invested in 51 rounds
7 Local Services – April 2016
2014
2015/16
No. of Funding Rounds
Total Funding Amount (in Millions)
2250
• Horizontal and Home Services segments accounted for 30% and 27% of total funding. • Investments in Horizontal and Personal Services sub-segments witnessed an increase of 267% and 238% in 2015 compared to 2014. • Local Services funding surge began in 2014 with over three fold increase in funding amounts in Home Services and Personal Services segments
To request the full 401 page report, write to us at [email protected]
8 Local Services – April 2016
Team
Santosh Kumar P Lead Analyst – Consumer
9 Local Services – April 2016
Tracxn World’s Largest Start-up Research Platform
2 Local Services – April 2016
Contents Topics
Page
Sectors We Track
04
Overview
05
Tracxn BlueBox
10
Company List
23
Team
401
3 Local Services – April 2016
Illustrative Sectors We Track ENTERPRISE INFRASTRUCTURE
CONSUMER
MOBILE
ENTERPRISE APPLICATIONS
SECURITY
MARKETPLACES
MOBILE COMMERCE
SAAS
STORAGE
SUBSCRIPTION COMM.
MOBILE PAYMENTS
MOBILE-FIRST ENT. APPS
NETWORKING
FASHION TECH
MOBILE MARKETING
INTELLIGENT ENT. APPS
MOBILITY
INTERNET FIRST BRANDS
MOBILE DEV TOOLS
OPEN SOURCE
IT OPS
LOCAL SERVICES
MOBILE HEALTH
RETAIL TECH
CLOUD INFRASTRUCTURE
FOOD TECH
MOBILE GAMING
MARKETING TECH
API MANAGEMENT
TRAVEL
MOBILE LEARNING
STEALTH MODE
BIGDATA INFRASTRUCTURE
GAMING
MOBILE COMMUNICATION
VERTICAL SAAS
TECH
FINTECH
EDUCATION
HEALTHCARE
INTERNET OF THINGS
BITCOIN
EDUCATION IT
LIFE SCIENCES
3D PRINTING
PAYMENTS
SELF LEARNING
DIGITAL HEALTH
4 Local Services – April 2016
Sector Overview Scope of report This report covers companies operating in Local Services market that provide web/mobile platforms for consumers to discover and book services/service providers for home services (i.e. cleaning, repair, painting, landscaping, remodeling etc.), personal services (laundry, beauty, massage, fitness), auto services, caregivers and technical support. It excludes offline first companies, classifieds, local shopping, transport services and hyper local delivery players operating in Food industry. The sector saw over $4.75B invested through 844 rounds1, with close to $2.69B invested in 2015/162. Companies operating in horizontal space accounted for most of funding closely followed by Home Services and Personal Services segment.
• Horizontal - 157 investments worth ~ $1.3B • Home Services - 230 investments worth ~ $1.2B • Personal Services - 230 investments worth ~$856M Most active funds • • • • • •
500 Startups – (StyleSeat, TaskRabbit, MyTime, KFit) Y Combinator – (YourMechanic, BuildZoom, Eden) Sequoia Capital – (Thumbtack, To8to, Houzz) Matrix Partners – (To8to, Edaixi, Care.com) Great Oaks Venture Capital – (Houzz, YourMechanic, Vive) SV Angel – (ClassPass, Alfred Club, iCracked) 1. All data and analysis in the report is based on Tracxn’s current coverage 2. Only YTD data is considered for 2016 throughout the report
5 Local Services – April 2016
Sector Overview – Funding Activity Notable investments in last six months • • • • • • • • • • • • • • • • • • • •
Zeel (PS - M&B - Massage - At Home - Marketplace) - $10M in Series A funding led by Emil Capital Partners – Mar 24, 2016 ServisHero (Horizontal - Reverse Auction) - $2.7M funding led by Golden Gate Ventures – Mar 20, 2016 Meilijia (PS - M&B - Beauty - Parlour Appointment) - $9.2M in Series A funding led by Fuhai Yintao Asset Management – Mar 14, 2016 Soothe (PS - M&B - Massage - At Home - Marketplace) - $35M in Series B funding led by The Riverside Company – Mar 9, 2016 YourMechanic (Auto Services) - $24M funding from SoftBank, Lerer Hippeau and others – Mar 1, 2016 MakeSpace (Storage - B2C) - $17.5M in Series B funding led by Harmony Venture Partners and Upfront Ventures – Feb 24, 2016 Taskbob (HS) - $4.5M in Series A funding led by IvyCap Ventures – Feb 21, 2016 KFit (PS – F&T - Fitness Center - Marketplace - Subscription) - $12M in Series A funding led by Venturra Capital – Jan 31, 2016 Booster Fuels (Fuel Stations - Delivery) - $9M in Series A funding round led by Maveron – Jan 28, 2016 Uyess (HS - Electronics) - $8M in funding from Thunderstorm Capital – Jan 13, 2016 CellSavers (Tech Support - Marketplace) - $3M in seed funding from Sequoia Israel – Dec 21, 2015 Housejoy (HS - Horizontal - Marketplace) - $22.4M in Series B funding led by Amazon – Dec 17, 2015 17House (HS - Improvement - Reverse Auction) - $31M funding from Pai Hui Xinquan investment capital – Dec 16, 2015 IKongJian (HS - Improvement - Marketplace) - $21M in Series B funding led by Shanghai Greenwoods Investment Management – Dec 14, 2015 Quancheng Relian (PS – F&T - Fitness Center - Marketplace - Subscription) - $15.6 in Series B funding from Matrix and Legend Capital – Dec 4, 2015 UrbanClap (Horizontal - Marketplace) - $25M in Series B funding led by Bessemer Venture Partners – Nov 19, 2015 ClassPass (PS - F&T - Fitness Center - Marketplace - Subscription) - $30M in Series C funding led by Google Ventures – Nov 11, 2015 Handy (HS - Horizontal - Marketplace - Closed Marketplace) - $50M in Series C funding led by Fidelity Management – Nov 2, 2015 BuildZoom (HS - Improvement - Reverse Auction) - $10.6M in Series A funding from Formation 8, Y - Combinator and Peter Thiel – Oct 14, 2015 58Daojia (Horizontal - Marketplace) - $300M in Series A funding from Alibaba Group, global investment firm KKR and Ping An Group – Oct 13, 2015 Abbreviations: HS – Home Services, PS – Personal Services, M&B – Massage & Beauty, F&T – Fitness & Training
6 Local Services – April 2016
2015 saw the highest amount of funding with total investment of $2.3B YoY Funding* 3000
336
• 2015 saw an increase of 176% in the amount of funding received compared to 2014
350
$2689M
263
191 1500
175
106
$868M
750
88 61
48
0
21
24
$124M 15
$39M
$110M
2008
2009
2010
$303M
$217M
$262M 0
2011
Cumulative Funding ($M)
2012
2013 No of Rounds
*Funding Value based on disclosed deals 2016: $296M invested in 51 rounds
7 Local Services – April 2016
2014
2015/16
No. of Funding Rounds
Total Funding Amount (in Millions)
2250
• Horizontal and Home Services segments accounted for 30% and 27% of total funding. • Investments in Horizontal and Personal Services sub-segments witnessed an increase of 267% and 238% in 2015 compared to 2014. • Local Services funding surge began in 2014 with over three fold increase in funding amounts in Home Services and Personal Services segments
To request the full 401 page report, write to us at [email protected]
8 Local Services – April 2016
Team
Santosh Kumar P Lead Analyst – Consumer
9 Local Services – April 2016
