We’re thrilled to announce that Pender Ventures has invested in Keepe’s Series A round of funding. We invest in businesses that create win-win solutions with game-changing technology. We are proud to say Keepe is now one of those companies.
When I got my start in venture investing almost nine years ago, I quickly learned that even seemingly low-key industries can generate a lot of excitement when disruption is on the horizon. The home warranty business is a prime example of this.
Home warranty providers make up a $2.6 billion market in the United States, and the recent explosion in homeownership indicates this industry is set for growth. These companies play a critical role in ensuring a high quality of life for homeowners and tenants. Yet, warranty companies face a host of challenges when it comes to the logistics of home repairs. The industry still relies on manual, paper-based practices and outdated technology, often resulting in customer dissatisfaction, low margins, and high churn.
Keepe is looking to tackle these challenges head-on with its on-demand home repairs marketplace. The company has a bold mission to reimagine the user experience for home warranty providers, homeowners, and contractors while making transactions efficient, modern, and economical. Keepe connects home warranty, home insurance, and property management companies to a vetted contractor network. The platform then streamlines some of the most difficult tasks associated with servicing warranty claims by automating work order approvals, ordering parts, and scheduling service times.
Keepe is already active in multiple markets in the United States and its technicians span multiple trades, including appliances, HVAC, plumbing, electrical, and more. The company’s software, which leverages machine learning and artificial intelligence, cuts service times down from weeks to days, making for more predictable costs and happier customers.
The value of Keepe’s platform is not limited to home warranty providers and homeowners. Keepe also provides contractors and technicians with algorithmically matched jobs, allowing them to maximize earnings, increase job capacity, and boost productivity. This strongly complements Pender Ventures’ drive to find solutions that empower the workforce.
Warranty companies are not technology companies, but in today’s age, they need technology to compete. Though it did not start as a marketplace for home warranties, the passionate team behind Keepe has evolved the company’s business model to find a giant niche that now needs innovative solutions to survive.
Keepe’s success follows years of late nights, constantly testing new ideas, and perseverance. The founders’ grit is what really impressed me. Markets evolve and technologies change, but the ability to adapt and persist is eternal.
Through our investment in Keepe, we are proud to join Ascend.vc, Techstars, Paul Stahura and numerous angels investors with a track record of helping grow companies with potential. As Keepe continues to scale its innovative home repairs platform and disrupt the home warranty industry, we are excited to be a part of the next chapter of its growth.
Kristina Bergman, Partner, Pender Ventures.