So make we clap!
We do that a lot, consciously or unconsciously. While talking, gesticulating, dancing to beats, well, it’s a lifestyle.
But how about clapping your way to a service provider each time you need one?
A tough one I must say, but UrbanClap says it is possible.
UrbanClap!
What is UrbanClap?
UrbanClap is an on-demand service marketplace matchmaking clients’ to service provider that best fits their budget, date, location and timing. UrbanClap says they can make this service as easy as clapping your hands.
Startup: UrbanClap
Founded: September 2015
Founders
Varun Khaitan, Raghav Chandra, Abhiraj Bhal
Founders’ Inspiration
Founders of UrbanClap were desperate to solve a really big consumer challenge and they chose to zero in on local services as the industry has not seen real innovation in decades.
Headquarters: New Delhi,India
Vision: To use technology and smart processes to structure the highly unorganized services market in India and emerging markets. (imagined by them).
Website: http://www.urbanclap.com
The Pitch (The idea in 20 words)
UrbanClap is an application utilising technology and smart processes to help clients find the right service providers easily.
Industry
Mobile app, Data Analytics, Software
Strategy
UrbanClap is the largest proprietary mobile based services marketplace in India.
The app is designed to help prospective users find the exact service provider they are looking for.
It has a unique matchmaking algorithm which allows seamless and nearest form matching between professional services providers and clients by highlighting relatable pointers such as budget, event, location and date.
Clients receive details of five professionals that meet their stated requirements.
Over 80 service categories are offered on the platform.
UrbanClap sieves through professionals in every service category by asking for references, selecting only one out of ten applications to ensure they offer only the best services.
All listed professionals on the platform are required to pay a fee to convert client lead into real business to enable the right match.
Professionalism and customer service support is key to UrbanClap’s strategy and it has a software equipped with a chat option for users to access customer support.
The startup has a five level strategy to meeting the needs of its users;
- First level; being a marketing solution to get new customers for service providers
- Second level; being a client relationship management platform
- Third level; content sharing, online contracting and payments
- Fourth level; training the supplier
- Fifth level; providers of equipment and products used to deliver service to clients
The startup does not offer permanent services e.g. the hiring of a driver or house keeper.
The startup acquired competitor apps, Goodservice and HandyHome.
Revenue Model
UrbanClap charges a fee to service providers to convert the lead to work.
Service providers pay 20% of income from clients to UrbanClap.
Growth and Market prospects
UrbanClap receives over 5000 daily service requests with up to 50% conversion rates.
The company expanded to cities across India, including Mmbai, Bangalore and Hyderabad.
Funding
UrbanClap is funded by investors;
Seed: $1.6 million – April 2015
Series A: $10 million – June 2015
Series A: $25 million – November 2015
Venture: Undisclosed – December 2015
Debt Financing: $3.09 million – April 2017
Total Funding: $39.69 million
Investors
UrbanClap has successfully raised investment funding from some of the best venture capital institutions and individuals. Some of these investors include;
- Kunal Bahl
- Rattan Tata
- Rohit Bansal
- Saif Partners
- Accel Capital
- Trifecta Capital
- Bessemer Venture Capital
Future Strategy
The future strategy of UrbanClap is to have all services meet its strategic five level plan for customer service delivery and satisfaction.
Industry Insights
Services based industries are a dime a dozen with all kinds of service providers available to meet client needs across a large spectrum of services. Be it car repair, beauty services, wedding planning, electrical fixing or babysitting, customers want the best service possible at the best possible rates making this a market with a larger than life size possibility in search of new innovations.
Disrupts
UrbanClap is disrupting the uncoordinated services industry in India which is mostly driven by word of mouth advertising.
Opportunity for Idea Creators
This is an opportunity idea creators can take advantage of and really win.
On the look out to create more value within this industry sector way should be;
- Developers
- Data Analysts
- Database Professionals
- And any other crazy head who thinks and can, can make things happen
UrbanClap is empowering small business owners access to a genuine stream of serious clients at little costs and guaranteeing quality business services to users of its platform.
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Disclosure: This review, article or report was first posted on http://www.babeonideas.com blog in 2017. The http://www.babeonideas.com blog no longer exists. Some information may be outdated or a startup may no longer exist in the form or all of its form when it was first reviewed.
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