Jobox.ai Raises $42M Series B to Become the Nationwide Marketplace Infrastructure for the Home Services Industry
Jobox.ai launches out of stealth and will use the funding to expand its reach to new geographical markets and professions, and to develop new features to put business back in the hand of trusted local pros
PALO ALTO, Calif., April 12, 2022 /PRNewswire/ — Jobox.ai, a software company that provides home service marketplaces with an AI-based infrastructure to directly connect their customers with skilled trades professionals (“pros”), announced today it has secured a $42M Series B funding round led by General Catalyst. Additional investments came from new and existing investors including Resolute VC, NNS, Expanding Capital and Joey Low. The company is officially coming out of stealth mode and will use the funds to expand its platform to serve new markets and professions, and develop new features to help pros operate and grow their business all in one mobile application.
The home services industry is a $595B industry, which has continuously grappled with increased demand and a severe skilled labor shortage. U.S. consumers spent over $376B in home improvement, $157B in home maintenance and $60B in emergency repairs last year, yet supply is scarce, with less than six million pros across the U.S. Archaic, paper-first practices in the industry are only exacerbating the problem, making it more difficult for consumers in need of home services to be matched with the right pros.
“Consumers are looking for pros online, but the majority of them are still working with pen and paper. They don’t have the proper tools in place to grow their business on the internet and have to rely on lead generation companies and middlemen that take most of their profit,” said Jobox CEO Shay Bloch. “Jobox has spent the last few years in stealth mode building a marketplace infrastructure that solves the problems of the home service industry. Companies get to provide their customers with more holistic digital journeys while pros get direct access to jobs without having to pay any lead gen fee. With this new round of funding, we look forward to expanding the infrastructure that will define the home services industry for years to come.”
The Jobox platform not only serves as an all-in-one workplace for skilled pros that eliminates paper-heavy processes, it allows Jobox to get a real-time view on the pro’s location, skills and availability to take a job. Jobox is leveraging the data to assign new jobs from nationwide demand partners to a single dedicated pro in a local market. It eliminates the need for the customer to choose and validate the pros themselves. By optimizing the pro’s work day, Jobox is able to dispatch jobs efficiently and create the ultimate experience on every side of the marketplace.
The platform also serves as a primary resource for home service marketplaces looking to launch or expand home services by providing a fast, reliable network of pros. Through Jobox’s infrastructure, companies like the Hillman Group can better serve end customers and as a result, diversify their revenue.
“The Hillman Group receives thousands of calls every month from customers looking for locksmith services through our network of 7,000 Minute Key kiosks,” says Randy Fagundo, President of Robotic Digital Solutions at The Hillman Group. “Thanks to Jobox, we can redirect these calls to the right local pros and provide a seamless end-to-end experience. Instead of trying to replace locksmiths, Jobox enables us to partner with them in a way that helps them thrive in their local communities.”
“Jobox is helping transform the relationship between pros and home service marketplaces,” said Niko Bonatsos, Managing Director at General Catalyst. “We’re thrilled to work with Jobox on their journey to help create a more efficient and competitive home services industry.”
“It’s clear that Jobox holds the keys to a bright future where the relationship between pros and home service marketplaces is symbiotic,” said Raanan Bar-Cohen, Co-Founder at Resolute Ventures. “We’re excited to support Jobox in helping millions of pros and hundreds of demand partners become more competitive in the global economy.”
“Jobox is doing the important job of putting business back into the hands of pros across the U.S., while enabling brands to launch home service marketplaces and build deeper and broader relationships with their customers,” said Leo de Luna, Partner at NNS. “Pros get a fairer share of the profit, while brands provide end-to-end experiences their customers love. It’s a win on all sides of the marketplace.”
“I’m very proud to be an investor in Jobox,” says Joey Low. “Jobox is leading the transformation of work and fulfilling the important mission of modernizing the life of home service pros so they can earn more money and thrive.”
Jobox powers business for more than 5,000 pros in 39 states across the U.S., and has processed more than $1B of transactions on its platform. Jobox matches a pro to a customer job every three minutes, making it easy for pros and home service marketplaces alike to grow their business.
For more information visit jobox.ai.
Jobox connects companies with thousands of vetted home service professionals. We use proprietary algorithms and millions of data points to match end customers with the local pro they need in less than 60 seconds. Jobox also helps companies form a deeper and broader connection with their customers. We enable companies to follow a service transaction all the way to execution. We made reporting, reconciliation, and payments fully automated and transparent, and built the infrastructure, APIs and onboarding flows to help design a smooth customer journey. Jobox takes the overhead of the home service marketplace to let companies focus on customer relationships. Companies get valuable insights into their customers’ preferences and the pros they work with, which they can leverage to lead more holistic purchasing journeys.
Source of data (Angi): https://www.angi.com/research/reports/market/