Even Sweeter. Honey Homes Draws $9.25M With Latest Funding Round
Era Ventures, led by Clelia Peters, was the lead investor in the round, its second since October, according to an announcement Thursday. Khosla Ventures and Pear VC also contributed to the round.
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Honey Homes, a homeowner subscription service for home maintenance and handiwork, has nailed down a $9.25 million Series A-1 funding round, according to an announcement Thursday.
Era Ventures, led by Clelia Peters, was the lead investor in the round. Existing investors Khosla Ventures and Pear VC also contributed to the latest fund.
“Almost three years in, we’ve proven the value of Honey Homes for those who want to focus on enjoying their homes with family and friends instead of worrying about a never-ending list of to-dos,” said Honey H0mes CEO Vishwas Prabhakara in a statement. “This additional funding will enable us to build a sustainable, long term business and expand access to the hassle-free home upkeep that homeowners deserve.”
The mobile-based Honey Homes experience debuted in Los Angeles, its third market, earlier this year, with hopes of expanding across the state and into Texas, according to the announcement. The company claims it has more than 1,000 accounts and has raised more than $21 million to date. Its first round of funding, also for $9 million, closed in October.
The company provides a subscription service for home care, a single source for tackling everything from cleaning to critical maintenance, and a
Its Home Health program allows Honey Homes’ team of workers to track clients’ equipment and appliances in an effort to create custom, long-term maintenance plans. The company calls it an “always-on feature that puts home maintenance on auto-pilot.” The process will be recorded and managed by the company’s proprietary software solution.
To date, Honey Homes states it has completed more than 60,000 member tasks through approximately 30,000 visits. The company has grown from 45 to 75 employees and doubled its team of handymen and handywomen from 25 to more than 50 as a result of its success at handing more requests and address clients needs.
That increased efficiency is a direct affect of software implementations aimed toward shrinking how requests are delivered, categorized and assigned, part of which involves the ability to surface the needs of each user’s system.
“As timely maintenance is required, Home Health automatically prioritizes it on members’ to-do lists,” the release stated. “Internally, Honey Homes has built new, artificial intelligence-driven tools that enable its handypeople to be more efficient, from ensuring on-time appointment arrivals to automatically adding support for tasks based on their estimated completion time.”
As is typical with AI tools, internal data is required for it to become more effective. The more activity its fed, the faster and more accurate its responses become, which can only happen over time, and with more tasks to tackle.
Peters said in the release that her firm became attracted to Honey Homes’ early customer responses.
“Honey Homes stands out for their thoughtful approach to pricing, team structure, and market expansion, enabling sustainable growth and profitability,” Peters said. “Honey Homes is uniquely positioned to build an iconic consumer brand in the home services category.”
