Workiz raises $40 million Series C to innovate home service management
Founded by veteran locksmiths, the Israeli startup's platform is used by home service companies to plan and keep track of jobs, schedules and payments
Workiz, which has developed a home services team management platform, announced on Wednesday that it has secured a $40 million Series C investment led by Lead Edge Capital joined by G squared and La Maison and followed by existing investors New Era, Magenta Venture Partners and Maor Investments. Lead Edge has invested in some of the world’s most successful technology companies, including Alibaba, Asana, Spotify, and Toast.
Many home service professionals still use antiquated business management methods - such as pen and paper or Excel spreadsheets - to handle everything from customer scheduling to invoicing and follow-ups. Frustrated by the difficulty of efficiently managing and growing the business side of their locksmith company, Idan Kadosh, and Erez Marom partnered with CTO Saar Kohanovitch in 2015 to launch an all-in-one service management platform that would allow them to focus solely on what they loved while outsourcing back-office operations.
The company has raised over $60 million in total to date and was named one of the fastest growing American companies in 2021. Workiz currently has over 80 employees.
The service is currently being used by more than 100,000 business professionals throughout the U.S. and Canada and has grown 200% annually over the past two years despite the pandemic. Every year, Workiz processes billions of dollars in transactions, handles millions of incoming and outgoing calls, and serves over 17 million end users.
“As their businesses scale, home service providers are going out on more calls than ever before, placing significantly more stress on managing the back-office work necessary to maintain a healthy business,” said Workiz CEO Adi (Didi) Azaria. “Workiz’ rapid growth over the past two years demonstrates a clear market need for our platform, and we are motivated by providing our customers with an industry-defining product that helps them make their respective businesses stronger.”