Pronto Secures $20 Million in Series B Funding, Valuation Reaches $200 Million
Pronto raises $20 million in Series B round as valuation doubles from March
Business Standard
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Pronto, an Indian on-demand home services startup, has raised $20 million in Series B funding, doubling its valuation to $200 million. The capital will help scale operations and expand service offerings as demand surges, with bookings increasing from 3,000 to over 26,000 daily in just a few months.
- 01Pronto raised $20 million in Series B funding, doubling its valuation to $200 million.
- 02The startup's daily bookings surged from 3,000 to over 26,000 in a few months.
- 03CEO Anjali Sardana emphasized the need to scale the workforce to meet demand.
- 04Pronto plans to expand services to include car washing and gardening.
- 05The company has reduced its burn rate per booking by 55% in the last quarter.
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Pronto, a home services startup based in India, has successfully raised $20 million in its Series B funding round led by venture capitalist Lachy Groom, bringing its valuation to $200 million. This follows a previous funding round in March where the company raised $25 million at a valuation of $100 million. CEO Anjali Sardana noted that the company has experienced rapid growth, with daily bookings increasing from 3,000 to over 26,000 in just a few months. To address the high demand, Pronto plans to use the new funds to scale its workforce and expand its service offerings, which currently include laundry, kitchen preparation, and home cleaning, starting at โน125 (approximately $1.32). The company is also exploring new services like car washing and gardening. Sardana mentioned that while they are focused on building customer habits through discounts, they have managed to cut their burn rate per booking by 55% over the last quarter, ensuring they remain well-capitalized for the next couple of years.
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The funding will enable Pronto to meet the increasing demand for home services, potentially leading to more job opportunities in the sector.
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