News and Announcements
Jarvis disrupting the $8 billion Australian cleaning market with $3.7m GMV
- Published July 17, 2019 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Highlights
- Jarvis is a marketplace connecting clients and cleaners
- The company provides scheduling software and client coordination services to cleaners to help them manage their clients in a more efficient way
- Cleaners stay in the job much longer than competitors and as a result clients rave about the service, returning 4.5x their acquisition cost, with a 3-month payback period
- After closing a $500K seed round 12 months ago, Jarvis has launched across 4 Australian cities, achieving $3.7M GMV with a 29% take rate
- Jarvis is raising $500,000 via preference shares, with a 1x liquidation preference, to launch into new markets and continue its high LTV:CAC growth.
Residential cleaning is an $8b market in Australia but remains highly fragmented, with 90% of transactions occurring offline. Incumbent platforms fail to provide value for cleaners beyond supply discovery, incentivising cleaners to take their clients back to the grey market after the initial visit.
Jarvis is built on the idea that the supply-side of this market is broken, and that to successfully consolidate the cleaning market, a platform must take a supply-first approach (much like OpenTable did for the restaurant industry). The company provides scheduling software and client coordination services to cleaners to help them manage their clients in a more efficient way. Cleaners stay in the job much longer on Jarvis than other platforms and as a result clients love the service (4.5 star Google rating), returning 4.5x their acquisition cost, with a 3-month payback period.
After closing a $500k seed round 12 months ago, the company has launched across 4 Australian cities, achieving $3.7m GMV with a 29% take rate.
Jarvis is currently raising $500,000 via preference shares, with a 1x liquidation preference. The funds will be used to scale their current markets in Melbourne, Sydney, Brisbane and Perth and for market expansion.
Register your interest now to be involved with this disruptive offer.
Company Updates
Forget Startups: Why Magnetic Alliance is Betting on “Boring” Mid-Market Turnarounds
While Australia’s venture capital scene spent years chasing unprofitable tech startups and speculative high-growth plays, Mark Lim was quietly taking a radically different path. The Managing Partner of Magnetic Alliance Capital sees the nation’s richest investment opportunities hiding in plain sight: inside thousands of unglamorous, profitable, but operationally sluggish mid-market businesses. Speaking on Wholesale Investor’s […]
The asset class where the market has no vote
Litigation funding returns are decided in a courtroom, not a cycle. Knightsbridge’s Head of Capital is careful to call that a different risk rather than a lower one, and his answer to it is spread, not concentration. Most alternative assets still answer to something. Property answers to rates. Private credit answers to defaults. Even the […]
The listing fee vendors pay whether the house sells or not
Australia’s property portals collect more than $2 billion a year while national listings sit flat. An Australian-built AI platform is targeting the economics, not just the interface. An Australian vendor listing a home pays a vendor-paid advertising fee on top of agency commission. Rama Dwarapudi, Founder and Chief Executive Officer of RealSearch, puts a typical […]
Backed By Leading Investment Groups and Family Offices
