Super, a company offering home repairs and maintenance services through a subscription model, recently raised $50 million in Series C funding from several backers in including Wells Fargo Strategic Capital.
In total Super has now raised a total of $80 million, however, it will not publically disclose its valuation. Its subscription model home maintenance services cover things like basic repairs for both mechanical and electrical appliances, as well as plumbing. Super stated that it will use the funding to expand into new markets and increase capacity by hiring more people. Additionally, portions of the funding will be used to increase partnerships.
Super is based in San Francisco and is currently operating in several other cities in the United States including Austin, Chicago, Dallas, Houston, Phoenix, Washington, and others.
Subscription-Based Maintenance Services Startups
Super Raised $50 Million in Funding to Expand
Trend Themes
1. Subscription-based Maintenance Services - The trend of offering home repairs and maintenance services through a subscription model creates an opportunity for disruptive innovation in the home services industry.
2. Expanding Partnership Networks - Growing partnerships creates opportunities for companies to access new markets and expand customer bases for subscription-based maintenance services.
3. Increased Capacity Through Hiring - Hiring more people and increasing the workforce introduces an opportunity for companies to increase their resource capabilities for subscription-based maintenance services.
Industry Implications
1. Home Services - Subscription-based maintenance services can disrupt traditional home services models by providing more convenient and cost-effective options for homeowners.
2. Financial Services - Financial institutions can leverage subscription-based maintenance services as a way to attract new customers and increase brand awareness through partnerships with startups like Super.
3. Human Resources - Subscription-based maintenance services companies can disrupt traditional HR models by offering new job opportunities for workers seeking employment with startups expanding into new markets.