#Asia India’s UrbanClap raises US$25M led by Bessemer Venture Partners

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The Gurgaon-based startup raised US$12 million earlier this year in two tranches

UrbanClap Founders (L-R) Varun Khaitan, Raghav Chnadra and Abhiraj Bhal

UrbanClap Founders (L-R) Varun Khaitan, Raghav Chandra and Abhiraj Bhal

India-based online marketplace for services UrbanClap has raised US$25 million in its Series B round of funding. The round was led by Bessemer Venture Partners, with participation from existing investors SAIF and Accel Partners.

Earlier this year, UrbanClap raised US$12 million across two rounds from Saif and Accel Partners, including US$1.6 million it raised in April.

“We will use these funds to further strengthen our leadership position in the space and 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,” said Abhiraj Bhal, Co-founder of UrbanClap.

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The fresh round of funding will also be used to double its team size to 600 as well as for some “strategic acquisitions”.

Started in October 2014 by Varun Khaitan, Abhiraj Bhal and Raghav Chandra, UrbanClap enables users to find and hire trusted service providers like plumbers, beauticians,  yoga trainers and wedding photographers.

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At present, the Gurgaon-based startup lists services in over 75 categories across Delhi, Bangalore, Mumbai, Chennai and Pune. It plans to expand its presence to over 25 cities and offer over 100 services in the next year.

The company claims to serve 5,000 customer requests a day, and has built a base of more than 20,000 service professionals.

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“UrbanClap is amongst the most frugal and capital-efficient companies we have met, with strong long-term focus. We look forward to partnering with them and creating a large business,” Vishal Gupta, the MD of Bessemer Venture Partners, said.

Investors have taken a keen interest in early-stage online marketplaces offering local and home services space, with companies like Taskbob, Tiger Global-backed LocalOye and Housejoy raising money.

The post India’s UrbanClap raises US$25M led by Bessemer Venture Partners appeared first on e27.

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