UrbanClap raises $50 million

UrbanClap, a managed marketplace for home services, on Friday said it has raised $50 million in funding led by Steadview Capital and existing investor Vy Capital.

Founded in 2014, UrbanClap helps users hire professionals for home services such as repair and maintenance, home cleaning, home care and design, packers and movers, beauty, yoga and fitness among others across eight cities.

The Gurgaon-based company will utilise the capital to boost customer and service partner on-boarding, further building the product and technology team, and enhancing the supply chain of consumables, the company said in a statement.

The new funding round comes after the UrbanClap raised $21 million led by Vy Capital in June last year. The company's other investors include Accel Partners, SAIF Partners, Bessemer Venture Partners and Ratan Tata.

UrbanClap has raised roughly $60.7 million till date.

The company has about 15,000 professionals on the platform and the aim is to take this to over a million in the next 4-5 years.