UrbanClap Technologies, which owns and operates online home services marketplace Urban Company, has acquired the assets of Australian on-demand beauty company Glamazon, the Gurugram-based venture announced on Monday.
While the financial terms of the deal have not been disclosed, a company-issued statement said that Lauren Silvers, a cofounder of Glamazon, will now lead the launch of Urban Company’s beauty and wellness offerings in the Australian market.
Urban Company had launched its operations in Australia in November last year. Apart from India, its home market, the company is also present in the United Arab Emirates and Singapore, and currently has a presence in about 22 cities across geographies, the official statement said.
“Australia is an attractive market and holds great promise for Urban Company with its demographic advantages. We believe that there is a huge opportunity for us to deliver high quality service in home repairs and beauty services. We look forward to contributing to a healthy service ecosystem in Australia,” said Abhiraj Bhal, co-founder of Urban Company, said.
This is the latest acquisition by Urban Company, which had earlier snapped up after-sales service platform HandyHome in 2016. The same year, it was also reported to have acquired concierge services startup GoodService in an all-cash deal.
Urban Company, which rebranded itself from UrbanClap in January earlier this year, has targeted onboarding about 10 lakh professionals on to its platform by 2025. It claims to have a partner network of 25,000 professionals, undertaking 800,000 services a month, across a variety of segments, such as beauty and spa at home, cleaning, plumbing, carpentry, appliance repair and painting, among others.
“It is so important to be able to deliver stable freelancing opportunities to our 1,700 beauty professionals from around Australia, whilst continuing to deliver quality services to more customers nation-wide. Urban Company helps us achieve this long held vision and we are thrilled at the huge opportunity that this deal presents to our customers and active professionals.” Lisa Maree, co-founder of Glamazon, said in the official statement.
Founded in 2014 by IIT Kanpur and Boston Consulting Group alums Bhal and Varun Khaitan, and University of California, Berkeley graduate Raghav Chandra, Urban Company has cumulatively raised an estimated $215 million in funding so far, and is valued at over $900 million, according to Tracxn.
The company’s list of investors include, Tiger Global Management, Steadview Capital, Accel Partners, SAIF Partners, Vy Capital and Trifecta Capital, among others. It last announced a $75 million Series E funding round in August last year, which was led by Tiger Global.