Home Latest News Urban Company raises USD255 mn in Series F round

Urban Company raises USD255 mn in Series F round

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Home services marketplace Urban Company has announced that it has raised USD255 million in a Series F funding round led by Prosus Ventures, Dragoneer and Wellington Management. Vy Capital, Tiger Global and Steadview also participated in the round, post which Urban Company’s valuation has risen to USD2.1 billion.

The latest round includes a primary capital infusion of USD 188 million and a secondary sale of approximately USD 67 million by select angels and early investors.

Urban Company CEO and co-founder Abhiraj Singh Bhal was quoted as saying that the company had raised about USD 330 million in primary capital till date.

The company also aims to increase its geographic footprint by entering the top 100 cities in India by 2022 and further expanding into international markets.

“With this funding, we plan to rapidly scale our business while continuing to invest further in the safety of our consumers and service partners, training of partners and product development…We will continue to penetrate existing markets while venturing into new overseas geographies,” Bhal said.