On-demand smart devices repair service startup, Puls (formerly known as CellSavers) has raised $50 million in Series C financing led by Temasek along with existing investors Sequoia Capital, Red Dot Capital Partners, Samsung NEXT and Viola Ventures. Two new investors Hanaco Ventures and Hamilton Lane also joined the round.
San Francisco-based Puls has raised a total of $93 million to date. In August last year, the startup raised about $25 million series B round led by Red Dot Capital Partners — a Temasek Holdings backed growth fund along with Samsung Next, Maverick Ventures and Kreos Capital, as well as existing investors Sequoia Capital and Carmel Ventures, who previously invested $15 million Series A round in August 2016. Prior to that, it had raised $3 million in a seed round from Sequoia Capital in December 2015.
Founded in 2015 by Eyal Ronen and Itai Hirsch, Puls connects consumers with highly skilled technicians to install, support or repair their smart technology devices anytime, anywhere. It operates an end-to-end business model that ensures strong economics and customer satisfaction. The platform has more than 2,500 vetted professionals in more than 50 US metro areas, providing same-day installation and repair for more than 200 high-growth products, including smartphones, big screen TVs, HD antennas, etc.
“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 cusp of the on-demand home services market, estimated at over $400 billion, and the $50 billion home automation markets. The company says, there will be 11 billion connected devices globally that is more than the number of people on earth by the end of 2018. That forecast is set to double by 2020, when the average household will have 50 connected devices, creating massive demand for integration, support, and repair services.
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.