Dwelling Companies Supplier Firm Raises $25.5 Million

March 29, 2024

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PipeDreams, a technology-enabled home services provider, announced $25.5 million in Series A funding led by Canvas Ventures and Plural. Angel investors include Tony Xu (the founder of DoorDash), Thomas Layton (the founder of CitySearch, former CEO of OpenTable and chairman of UpWork), and Allison Pickens (former COO at Gainsight). With this round of financing, the company has raised a total of $39 million.

PipeDreams is committed to becoming the most respected home service provider in every market nationwide. It is a vertically integrated home services provider whose technology layer improves the experience for technicians and customers, delivering five stars in approximately 91% of customer reviews.

And it acquires leading companies in local markets, employs all of its artisans and integrates a unique technology stack to improve their revenue, productivity and quality of life while providing excellent customer service.

PipeDreams' AI platform connects employee skills to projects, optimizes job routes and schedules, and automates inventory management. With PipeDreams, technicians earn an average of 30% more. PipeDreams' technology layer leverages automation, digitalization and improved customer/technician experience to achieve 100% growth of an existing business in two years.

As technology has transformed countless industries, home services still rely on the hands-on performance of qualified on-site technicians and coordination of schedules. And over the past two decades, intermediaries have emerged to make it easier for consumers to find and schedule appointments. However, these aggregated solutions are a patchwork of providers and promises, resulting in inconsistent and frustrating consumer experiences that prevent companies from building deeper loyalty.

PipeDreams companies operate in the San Francisco Bay Area, California Central Coast, Southern California, Tucson, Arizona, Denver, Colorado and McAllen, Texas. And they will be expanding to additional locations in the coming year.

MOST IMPORTANT QUOTES:

“The rise of vertical SaaS has been a boon for many service industries, but in conversations with owners and consumers, we found that a software layer alone doesn't go deep enough to streamline operations or provide reliable service to customers. I have seen firsthand the power of technology to connect local communities. We built PipeDreams to meet and elevate expectations with an end-to-end approach that puts the right person in the right job, secures advancement opportunities for that person, and provides business owners with opportunities to scale their visions and brands.”

Dan Laufer, CEO and founder of PipeDreams, who previously led growth and product marketing at Nextdoor

“PipeDreams’ use of technology – bringing it into every aspect of the business rather than on the surface – is proving transformative not only for their teams, but also for their customers. They provide liquidity to a generation of owners while expanding their legacy and teams, doubling organic growth in just a few years, and creating loyal, satisfied customers. We are proud to support them on this journey.”

Mike Ghaffary, general partner at Canvas Ventures

“I have spent much of my career supporting small business owners and tradespeople, and while digitalization has brought many benefits, I have long been convinced that verticalized solutions that integrate software and service are the way of the future. “I am very excited to be turning this vision into reality at PipeDreams.”