Investment coincides with the online lawn care company’s expansion into a total of 120 markets
AUSTIN, TEXAS (Nov. 12, 2019) — LawnStarter, an on-demand platform for outdoor services, today announced it has secured a $10.5 million growth investment led by Edison Partners, a leading growth equity investor. The new funding will enable LawnStarter to continue its growth in lawn care and add new outdoor service lines including landscaping, fertilization, pest control, and tree care.
Austin-based LawnStarter began by creating an easy way for consumers to order, manage, and pay for lawn mowing online with services provided by a network of high-quality and insured service providers. This concept has since been welcomed in 120 U.S. markets. The company achieved 100% growth year over year and reached profitability.
Following these achievements, LawnStarter will continue to grow its presence across the US and soon introduce new outdoor home services.
“In the highly decentralized lawn care industry, ordering service takes days, communication is poor, and caring for your home requires hiring several different companies,” said LawnStarter CEO and co-founder Steve Corcoran. “We’ve brought vetted and fully insured professionals together to give consumers the best possible experience. Subscribers can schedule lawn care and other services in just a few clicks using a mobile app, giving them an effortless way to manage the full spectrum of their outdoor home needs.”
LawnStarter also helps lawn care professionals grow by 30% to 80% in a few months with no upfront cost. LawnStarter handles marketing, billing, scheduling and other back-office operations so that pros can focus on delivering great service. Additionally, LawnStarter’s algorithms use geolocation data to help pros build route density, increasing their profitability.
“The investment from Edison will help us grow and scale our platform and business so we can transform the outdoor home services industry to meet the modern needs of homeowners, and work toward making every outdoor home service as easy as clicking a button,” Corcoran said.
Edison Partners’ enterprise solutions portfolio includes technology and SaaS companies that are disrupting home services and other fragmented industries. Daniel Herscovici, Partner at Edison Partners, led the investment. Herscovici will join LawnStarter’s board of directors.
“LawnStarter is bringing innovation to the $99 billion lawn care service market, where services are widely distributed and the consumer experience is poorly constructed,” Herscovici said. “We look forward to partnering with Steve and the management team as they capitalize on demand for new residential offerings among busy and time-pressed homeowners and accelerate the growth of their platform.”
Existing investor Lerer Hippeau is also participating in this new investment round, which builds on previous investments from Bull Creek Capital, Techstars, Cotter Cunningham and Gary Vaynerchuk.
About LawnStarter
LawnStarter is the leading online marketplace for consumers and lawn care professionals. Through its online presence and its app, the company provides instant quotes for consumers, who can schedule lawn mowing and related lawn-care services from insured professionals. LawnStarter is headquartered in Austin. For more information, visit LawnStarter.com.
About Edison Partners
For more than 30 years, Edison Partners has been helping CEOs and their executive teams grow and scale successful companies. The firm’s investment team brings extensive investing and operating experience to each investment. Through a unique combination of growth capital and the Edison Edge platform, consisting of operating centers of excellence, the Edison Director Network, and executive education programs, Edison employs a truly integrated approach to accelerating growth and creating value for businesses. A team of experts in financial technology, healthcare IT and enterprise solution sectors, Edison targets high-growth companies with $5 to $25 million in revenue; investments also include buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregated market value exceeding $10 billion. Edison Partners is based in Princeton, N.J., and manages more than $1.4 billion in assets throughout the eastern United States.
To arrange an interview with LawnStarter co-founder Ryan Farley, email media@lawnstarter.com.
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