Quick Service App Snabbit Raises $19 Million in Round Led by Lightspeed
Snabbit, the quick service app that offers hyperlocal, on-demand home services, has recently secured an impressive $19 million in its latest funding round. The funding was led by Lightspeed, with existing investors Elevation Capital and Nexus Venture Partners also participating in this round. This substantial investment is set to propel Snabbit to new heights in the on-demand service industry.
The infusion of $19 million in fresh capital signifies a strong show of confidence in Snabbit’s business model and growth potential. The company has outlined its strategic vision for the utilization of these funds, with a clear focus on expanding into new micro-markets and fortifying its team. By leveraging this investment, Snabbit aims to accelerate its expansion and establish a significant presence in the market.
Currently operating in approximately 10 micro-markets, Snabbit has ambitious plans to scale rapidly in the coming months. The company has set a target to extend its services to over 200 micro-markets within the next nine to 12 months. This aggressive expansion strategy underscores Snabbit’s commitment to catering to a broader customer base and enhancing its market reach.
Snabbit’s success in securing such a substantial funding round can be attributed to its innovative approach to on-demand services and its ability to meet the evolving needs of consumers. By offering a convenient platform for users to access a wide range of home services quickly and efficiently, Snabbit has carved a niche for itself in the competitive on-demand service sector.
The investment from Lightspeed, a renowned venture capital firm with a strong track record of backing successful startups, further validates Snabbit’s business model and growth prospects. With the continued support of existing investors Elevation Capital and Nexus Venture Partners, Snabbit is well-positioned to capitalize on emerging opportunities and drive expansion in the on-demand service market.
As Snabbit embarks on this new phase of growth and expansion, the company remains committed to delivering exceptional service quality and enhancing the overall customer experience. By investing in new micro-markets and expanding its service offerings, Snabbit aims to solidify its position as a leader in the on-demand home services space.
In conclusion, the recent $19 million funding round led by Lightspeed marks a significant milestone for Snabbit and paves the way for its rapid expansion and growth. With a clear roadmap for scaling to over 200 micro-markets, Snabbit is poised to capitalize on its momentum and cement its position as a key player in the on-demand service industry.
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