ServiceWhale Receives $1M Follow-On Funding; Expands into New York City

TREVOSE, Pa.--()--ServiceWhale, Inc., the only online marketplace for major home improvement projects, is ending 2015 poised for explosive growth in the New Year. One of ServiceWhale’s existing investors has exercised an option providing the company with an additional $1M in funding, bringing the total investment for ServiceWhale to $2.5M in the past 14 months. In addition to the funding, ServiceWhale is expanding beyond its pilot city of Philadelphia and now offering services in New York City.

“Our goal at ServiceWhale is to make it as easy to shop for and purchase a major home improvement project online as it is a pair of sneakers”

ServiceWhale allows homeowners to get instant, custom quotes on big ticket home services and order projects at a fixed price. ServiceWhale’s patent-pending quoting technology makes it as easy to shop for a home improvement project as it is to shop for nearly any other consumer product online.

“Our goal at ServiceWhale is to make it as easy to shop for and purchase a major home improvement project online as it is a pair of sneakers,” said Dmitri Saveliyev, founder and CEO of ServiceWhale. “Our success continues to be validated by both homeowners and contractors. In fact, about 80 percent of homeowners who have booked projects through ServiceWhale are already researching their next service through the platform. We have also seen a 90% acceptance rate among our contractors signed up for ServiceWhale. More than $40M of construction projects have been quoted through our platform to date and we are adding new service offerings on a weekly basis.”

Using the estimating tools, homeowners have the ability to shop for services such as heating and cooling (HVAC), hot water tank replacement, flooring, interior and exterior painting, roofing, siding, windows and doors and bathroom remodeling will be available very soon.

In addition to the self-service model, the company rolled out a white label solution designed specifically for contractors called MyServiceWhale in September. This subscription-based solution allows contractors to instantly generate quotes directly from their own websites by simply installing a widget. In fact, contractors who licensed MyServiceWhale have already seen a 40% increase in converting visitors into leads as they are providing homeowners what they want most – clear, instantaneous and upfront pricing for major projects. When searching for a quote, homeowners typically use keyword terms such as ‘price, cost and estimate’ and MyServiceWhale performs extremely well in this capacity.

Contacts

ServiceWhale, Inc.
Robert Kreis, 267-608-1200 x508
rkreis@broadpathpr.com

Release Summary

ServiceWhale, Inc., the only online marketplace for major home improvement projects, received $1M in funding, bringing the total investment for ServiceWhale to $2.5M in the past 14 months.

ServiceWhale, Inc.