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Time to 'UrbanClap' if you are looking for local services

Time to 'UrbanClap' if you are looking for local services
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Isn’t it a hectic job to find a plumber, beautician or yoga trainer nearby your locality. For this you make numerous calls to you relatives or you consult with your neighbors about it. Now, with the help of UrbanClap, you don’t need to waste your time on making calls or consulting the neighbors as it helps you hire these services with just a click of a button.

Brainchild of IIT Kanpur alumni Varun Khaitan and Abhiraj Bhal, UrbanClap claims itself as the India’s largest marketplace for local services. Whether you are looking for a plumber, beautician, a yoga trainer or a wedding photographer, UrbanClap is a one stop destination for all local services.

All you need to do is place your requirements on the UrbanClap app or website and within short span of time platform will bring these professionals to you.

Headquartered in Gurgaon, this startup offers services in more than 75 categories across Delhi NCR, Bengaluru, Mumbai, Chennai and Pune. Today, they serve 5000 customer requests per day, and have built a base of over 20,000 service professionals – who together represent the gold standard for trusted services in India.

Every month, UrbanClap sends them business worth $200 million annually (current run rate) which include Rs 200 from small carpentry jobs, to a large interior designing assignments worth several lakhs.

“UrbanClap is redefining how services are hired and consumed in India. UrbanClap will become synonymous with the word services for urban customers and professionals across the country,” said Abhiraj Bhal, co-founder, UrbanClap.

Funding
Recently, startup has announced that Ratan N. Tata has invested in the company in his personal capacity.Tata’s personal investment in UrbanClap is a testament to both the size of the market opportunity and the calibre of the UrbanClap team, which is undeterred in its efforts to build a valuable marketplace that millions of Indians love.

Prior to this in the month of November, startup has secured $25 million in Series B round of funding led by Bessemer Venture Partners, along with participation from existing investors Saif and Accel Partners.

The venture plans to utilize these funds to further strengthen their position in the segment and expand across all major cities in India. Moreover, the funds will be used to increase its team size from 300 currently to about 600 and to make some strategic acquisitions.

Growth and expansion plans
The company plans to extend its offering to 25 cities by adding more than 100 categories over the next one year. With the mission to deliver trusted and affordable services to the folks around the world, startup aim to have more than 100,000 professionals on its platform and serve over 100,000 customers every day by next one year.

Sector Overview
Dealing in local services market, UrbanClap is trying to tap over $50 billion market which is growing exponentially. Local services market has become the latest buzzing trend among the entrepreneurs as more and more startups are mushrooming in this space.

Startup like Doormint, TimeSaverz, Mr. Right, Taskbob and Zepper are few names which are catering into this segment and also giving direct competition to urbanclap. Moreover, investors are also showing their interest in these startups as they are receiving funding from them in quick succession. 

In the month of July, Zimmber, an on-demand home services platform had raised Rs 2.5 crore in a fresh round of funding led by top officials of InMobi. Similarly, Taskbob secured $1.2 million funding from Orios, Mayfield and others. Timesaverz had also raised Series A funding of Rs. 15 crore from Ronnie Screwvala’s Unilazer Ventures.

Now we have to see that how far this segment will receive the attraction of the investors.

Edition: December 2016

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