Jobber funding - Image by TheDigitalWay from PixabayJobber, the operations management software solution for home services businesses, has raised $100 million. Global growth equity investor General Atlantic led the Series D Funding round. The existing investors’ Summit Partners, Version One Ventures, and Tech Pioneers Fund also participated. Summit led the previous Series C funding round, raising $60 million in January 2021.

The money will go towards financing growth with investments in R&D, sales and marketing, and new customer acquisition. The Jobber platform is used by over 200,000 service professionals across 60 countries. The platform provides an end-to-end solution for the customer’s life cycle. It hands off the bookkeeping elements through integrations to solutions such as QuickBooks and through Zapier to Sage Accounting and Xero. Features include Job Management (Scheduling, Invoicing and client management), Customer Service (online booking, customer portal and customer communications)  and business operations such as credit card processing, quotations and follow-ups.

Sam Pillar, CEO and co-founder of Jobber
Sam Pillar, CEO and co-founder of Jobber

Sam Pillar, CEO and co-founder of Jobber, commented, “While this is an important milestone for Jobber, what we care about most is the success of the small businesses we serve. We’re committed to doing everything we can to help them transform the way they deliver their services and operate their companies. We’re thrilled to partner with General Atlantic as we continue to pursue our mission of helping the people in small businesses be successful, and further entrench our leadership position in this important and growing small business category.”

A huge opportunity

Jobber currently focuses primarily on the North American market. It is headquartered in Canada with nearly 600 staff in the country. It also has a few in the United States (around 25, according to LinkedIn) and a few in  Latin America. Most of the thirteen open positions are based in Canada, but for some remote working roles, it is looking for applicants in the US and Canada.

The home services market is huge. In 2020, Angi estimated that in the US alone, 5 million service professionals were generating over $500 billion in direct spending. Many of these are sole traders or small companies for which Jobber provides a solution.

In January 2021, Jobber had 100,000 customers. Since then, it has doubled its customer numbers and tripled its revenue. It now operates across 50 home service industries, including HVAC, lawn care, plumbing, residential cleaning, painting, electrical, roofing, and snow removal. Its customers have generated $13 billion in USD during 2022, a fraction of the complete market.

Shawn Cadeau, Chief Revenue Officer at Jobber, said, “Although we’re proud of our growth to date, the real opportunity lies ahead of us. There are more than 6.2 million home service businesses in North America alone delivering more than $600 billion in services each year that can benefit greatly from using Jobber.”

Acquisitions ahead?

It seems likely that Jobber will look to grow organically, and inorganically, the latter will enable it to open new markets.

Aaron Goldman, Managing Director and Head of Enterprise Technology Investing at General Atlantic, commented, “We believe Jobber is bringing much-needed innovation to the small business segment, a category that has been traditionally underserved by technology solutions and is still in the early stages of digital adoption.

 “With a platform that is purpose-built for the home service category, Jobber has an opportunity to continue deepening its value as the platform of choice with its customers. We are pleased to partner with Sam and the Jobber leadership team as they focus on strategic growth and continued product expansion.”

Goldman has joined the Jobber board of directors. What is interesting is that he talks about Jobber servicing the small business segment. This is a wider category than that traditionally targeted by Jobber. Currently, Jobber looks at Cleaning, Green and contracting services.

There are other sectors. WorkWave, a US-based competitor, also targets areas such as pest control. Could Jobber be looking for acquisitions to rival WorkWave across more sectors? Will it look to target the homecare market and others as well? It now has $100 million in funding to look at acquisitions.

Enterprise Times:  What does it mean

This is a significant funding round for Jobber and will enable it to grow faster, initially targeting more small businesses in the US. It is a fiercely competitive market, though, with several firms vying for dominance in the latest G2 Grid for Field Service Management. Jobber is in the leader quadrant for small businesses and will hope to increase its market presence against its rivals.

What will be interesting is how Pillar intends to spend the investment. With only 13 jobs listed as of writing this article, acquisitions may be the route of choice for much of the investment. Time will tell. However, it is clearly an area that is attracting interest, and with Jobber about to start targeting the WorkWave home market, it could be an interesting 2023.

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