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LocalOye, India’s leading mobile marketplace for hiring local service professionals has raised $5 million in Series-A funding from Tiger Global Management and Lightspeed Venture Partners. LocalOye will use the funds to aggressively scale nationwide and expand to more service categories.
LocalOye currently operates in Mumbai, offering services in 250+ categories like education (example: tutors), home services (appliance repairs), wellness (yoga, fitness) and events (photographers), the company said in a statement.
The platform uses an advanced recommendation engine to connect customers with high-quality service professionals within a few minutes. Customers can give their requirement to the LocalOye app via easy steps; and on the other side the service professionals also use an app to review, accept, engage and schedule bookings with those customers.
The current solutions are dependent on a classifieds approach, with hundreds of listings and manual phone calls, which is a really frustrating experience for customers. LocalOye’s match-making approach eliminates this, making it hassle free for the customers while providing 50x better conversion rates for service professionals. The LocalOye team does screening and personal verification of each service professional to ensure quality, assurance and fair pricing.
LocalOye was founded by Aditya Rao, a graduate from BITS Pilani, in 2013. Commenting on the fund-raise he said, “People spend money on two things – buying products or services. We want to completely own the services space. Over the past 1.5 years, we have solved some of the toughest local services problems, and now it is time to exponentially build on this momentum by continuing our focus on great execution, merchant quality and customer delight.”
