LawnStarter secures $10.5M investments by Edison Partners, to expand the firm over new markets and provide more service options
Fremont, CA: An on-demand platform for outdoor services, LawnStarter secured an investment of $10.5 million for the growth and development of its operations. The investment was carried out by Edison Partners, a leading equity investors firm. The new funding will encourage the LawnStarter to pursue its development in lawn care across the U.S. with the capacity to add more original outdoor servicing sections that include landscaping, fertilization, pest control, and tree care.
The Austin-based LawnStarter commenced its journey by creating a simplified route for the consumers to place an order, manage the package, and pay for lawn mowing using services provided by an interlinked connection of high-quality and insured service providers. The company has experienced a celebrated welcome in more than 120 U.S. markets, grown 100% year over year, and has attained profitability.
"In the highly decentralized lawn care industry, ordering service takes days, communication is poor, and caring for your home requires hiring several different companies," said LawnStarter CEO and co-founder Steve Corcoran. "We've brought together vetted and fully insured professionals to give consumers the best possible experience. Consumers can easily schedule lawn care and other services using a mobile app, giving them an effortless way to manage the full spectrum of their outdoor home needs."
LawnStarter also assists in lawn care businesses as it grows the revenue by 30 percent to 80 percent in a few months with no forthright payments. The startup manages to carry out the billing, marketing, scheduling, and other back-office chores. These back-office operations are handled so that the pros can focus on delivering exceptional service. In addition to this, LawnStarter's algorithms utilize geolocation data to support pros build the route density, increasing their profitability.
"The investment from Edison Partners will help us grow and scale our platform and business so we can transform the outdoor home services industry to meet the modern needs of homeowners, and work towards making every outdoor home service interaction as easy as clicking a button," Corcoran said.
LawnStarter is the newest investment made by the Edison Partners in large fragmented markets, which are ripe for disruption and divided customer experience, like real estate investments and funding for the platform Fund That Flips, micro-mobility company Zagster and the financial membership platform MoneyLion. In all, Edison Partners has backed and guided through thick for more than 230 private startups.
"LawnStarter is bringing innovation to the $99 billion lawn care service market, where services are widely distributed and the consumer experience is poorly constructed," said Daniel Herscovici, Partner at Edison Partners, who led the investment. "We look forward to partnering with Steve and the management team as they capitalize on the demand for seamlessly integrated and easy to use services amongst busy and time-pressed homeowners." Herscovici will join LawnStarter's board of directors.
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