Prosus has led the on-demand home services provider’s latest round, which was reportedly secured at a $2bn valuation, pushing its total funding past $370m.
India-headquartered home services marketplace Urban Company has raised $188m in a series F round led by internet group Prosus at a $2bn valuation, Entrackr reported today, citing a regulatory filing.
The round was filled out by DF International – possibly a vehicle for Dragoneer Investment Group – and Wellington Management, lifting the company’s overall funding to more than $370m. Prosus was formed by e-commerce and media company Naspers to manage its online assets.
Founded in 2014 as UrbanClap, Urban Company runs an online platform where users based in India, Australia, the United Arab Emirates and Singapore can offer on-demand services such as home repair, maintenance, installation and cleaning services in addition to beauty and wellness treatments.
Investment firm Vy Capital paid $5m in August 2020 to acquire Urban Company’s employee stock options in a secondary transaction.
Hedge fund manager Tiger Global Management had led a $75m round in August 2019, investing alongside Vy Capital and alternative asset manager Steadview Capital. It came the month after private investors Mekin Maheshwari and Anjali Bansal injected approximately $220,000 into the company.
Steadview Capital had led a $50m series D round for Urban Company in 2018 that also featured Vy Capital, the latter having led a $21m series C round the year before that included SAIF Partners (now called Elevation Capital), Accel and Bessemer Venture Partners (BVP).
The company secured an undisclosed sum from individual investor Ratan Tata in December 2015, which came in the wake of a $25m series B round the previous month led by BVP and backed by Accel and SAIF, after the last two provided $10m in series A funding in January the same year.
Urban Company disclosed in 2015 that it had already received $1.6m in seed funding at an undisclosed date from Accel, SAIF and angel investors Rohit Bansal and Kunal Bahl.