Seeking investors for tech-enabled acquisition strategy in home services
December 04, 2023
by an investor from University of Pennsylvania - The Wharton School in New York, NY, USA
Hi everyone!
My co-founder (technical) and I are pursuing an acquisition thesis in the home services space. Our hypothesis (backed by some validation) is that there is a huge opportunity to tech enable businesses in this industry / optimize their marketing stacks and accelerate growth. We are looking at verticals such as pest control, pool maintenance, remediation, and others, with a pipeline of potential targets that we are screening.
We are in the process of having introductory investor conversations to get feedback and refine the thesis. Our aim is to do a $10-20m initial fundraise to pursue acquisitions in the space. We are also open to a deal by deal raise initially. Is this something that would be of interest to anyone in this community? Please PM me to discuss!
By way of background, both of us have built and scaled multiple tech companies (all VC or PE backed). Karan was the co-founder of Knock most recently (tech-enabled real estate platform that raised ~$600m from VCs). My last company (AppHub) raised $200m+ from PE funds and lenders to pursue a roll-up in the ecommerce enablement space. We did ~10 acquisitions in under 2 years, and there is a lot from that playbook I can lean on with the current strategy we are pursuing.
Thank you for your time and consideration!
from University of Toronto in Miami, FL, USA