Puls Raises $50 Million Series C to Deliver In-Home Technical Support for Anything With an 'On' Switch
Led by Temasek, the round will establish same-day tech services company as the single brand for consumers, retailers and corporate partners
SAN FRANCISCO, August 28, 2018 (Newswire.com) - Puls Technologies Inc., the nationwide company delivering intelligent end-to-end support for the devices at the heart of everyday life, today announces a $50 million Series C fundraising round. Temasek led the round, with participation from current investors Sequoia Capital, Red Dot Capital Partners, Samsung NEXT and Viola Ventures. The round also includes investments from Hanaco Ventures and Hamilton Lane.
Founded in 2015, Puls operates an end-to-end business model that ensures strong economics and customer satisfaction. Puls’ proprietary software platform matches each consumer with the right skilled technician with the right parts in as little as 60 minutes, seven days a week. Puls’ nationwide network now includes more than 2,500 vetted professionals in more than 50 U.S. metro areas, providing same-day installation and repair for more than 200 high-growth products, including smartphones, big screen TVs, HD antennas, garage door openers and smart home devices such as voice-activated speakers, video doorbells, keyless locks, AI cameras, smart thermostats and security systems.
The new investment will fuel Puls’ bold vision to transform the service industry by bringing frictionless support to the full life cycle of every device or appliance. Puls is capitalizing on two global trends: widespread adoption of affordable connected devices and ever-increasing consumer expectations for on-demand services.
“As consumers depend on electronic devices for every aspect of daily life, the world needs a new service model,” says Eyal Ronen, Puls co-founder and CEO. “No one should have to drive across town and stand in line to speak to an expert or wait hours at home for a local repair van to show up. Puls is fixing the entire service industry to be seamless, rapid and reliable. We will be the single point-of-contact, 24/7 and the only brand you need for anything with an ‘on’ switch.”
Puls is poised for massive growth, operating at the intersection of the on-demand home services market, estimated at over $400 billion, and the $50 billion home automation markets. By the end of 2018, there will be 11 billion connected devices globally - more than the number of people on earth. That’s forecast to double by 2020, when the average household will have 50 connected devices, creating an explosive need for integration, support and repair services.
“We’re delighted to have Temasek leading this round,” said Ronen. “As investors in global online leaders, Temasek brings incredible expertise to our board. It’s a huge vote of confidence in our vision, team and execution as we accelerate our direct-to-consumer business and expand strategic partnerships with big-name retailers, insurance companies and hardware OEMs.”
This powerful combination positions Puls to deliver unmatched quality and convenience to every customer, wherever and whenever is right for them, whether they are buying new products, getting them fixed or when it’s time to upgrade.
This investment is the largest round to date for San Francisco-based Puls. In August 2017, Puls announced a $25 million Series B.
Founded in 2015 by Itai Hirsch and Eyal Ronen, Puls Technologies Inc. connects consumers with highly skilled technicians to service smart technology devices anytime, anywhere. Providing services in more than 50 local markets, Puls leverages a proprietary technology platform to match customers with the right technician with the right skills at the right time, addressing most service requests within 60 minutes. With thousands of five-star reviews on Facebook and Yelp, Puls goes the extra mile for each customer and corporate partner to ensure exceptional service and guaranteed results. Puls is headquartered in San Francisco with offices in San Diego and Tel Aviv and has raised more than $90 million in financing to date with backing from Temasek, Sequoia Capital, Red Dot Capital Partners, Samsung NEXT, Maverick Ventures, Kreos Capital, Hanaco Ventures, Hamilton Lane and Viola Ventures. Learn more at www.Puls.com.
Kirstin Hallett for Puls
Source: Puls Technologies Inc.