Seattle-based home improvement marketplace Porch raised nearly $21 million to continue its busy two-year period of activity as the company aims to reach profitability. The company raised $20.6 million as part of a Series C round, the first equity round for Porch since the company landed a $65 million investment in 2015. The company said the latest round will help the company move towards profitability and fund operations.
Porch matches customers and home service professionals for improvement projects. The company has entered partnerships with Facebook, eBay, Overstock, and Streem in recent years. Porch launched in 2013, but was forced to downsize and repair the business months after launching.
The company re-emerged in 2018 and acquired Serviz, a home services company that focuses on appliance repair, plumbing, electric, handyman, and carpet cleaning. In 2019, the company completed acquisitions of Kandela, a company that aims to simplify the moving experience by setting up the installation of home services, and HireAHelper, a moving marketplace.
The marketplace for services, similar to Porch, that aim to match customers and home service professionals, is growing increasingly crowded. In addition to Porch, HomeAdvisor, Angie's List, Houzz, Modernize, Remodelmate, and Hover offer services attempting to link homeowners with professionals.
