 "Unilazer Ventures invests Rs 15 crore in Timesaverz")
The company, which helps users hire locally-verified and curated service providers, will allocate the raised capital to support expansion into new markets and services.
"Timesaverz sees itself as the Uber of home services, creating availability and credible aggregation for the consumer, and value for money for the vendors," the company said in a statement.
Founded by Debadutta Upadhyaya and Lovnish Bhatia, Timesaverz operates in five metros, growing at 100 per cent quarter-on-quarter.
Speaking about the investment, Screwvala said, "On-demand home services comprise the new frontier of e-commerce, where service is now a product. Large companies are going to be created in this space and we will work closely with the founders to make Timesaverz, a leader in an existing $5 billion industry with immense growth potential. Our decision to back the company was driven by the operational efficiency demonstrated by an experienced team and the social impact it has created among the unorganised but skilled service partners."
Debadutta Upadhyaya, co-founder and CEO said that Timesaverz started as a 2-hub operational company in Mumbai two years ago and has since grown to cater to one service request every three seconds, through a 1,000 plus Timesaverz partner network across five key metros. Since the launch of its new interface both on web and mobile, Timesaverz has been witnessing 3X growth in visitations and 80% of the traffic is through mobile.
"The recent round of funding is aimed at bolstering our technology solutions and strengthening our product portfolio," she said.
The company will expand its operations from the current seven cities to 15 cities and will increase its services categories from five, including cleaning, laundry, pest control, repairs, plumber and carpeting.
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The new cities the company is looking at Ahmedabad, Chennai, Jaipur, Kochi, Indore and others. Post the expansion the company is planning to double it users from the current 10,000 level, she added.
Timesaverz taps the extremely ripe market for on-demand home services, following consumers' off-take for food service delivery apps and tech-enabled cab services.