Why home services startup Housejoy plans to diversify its product line and expand into new areas

Founded in 2015, seHouse of joyse is a Bengaluru-based home construction, renovation, interior and maintenance company. The company raised approximately $ 30.2 million from Amazon, GrowthStory, Matrix Partners and other investors so far.

Sanchit Gaurav, Founder and CEO of Housejoy, says the company aims to use the funds for expansion, growth and brand awareness.

He says it’s been a great journey for the company from the start, but 2019 has been a good year in terms of growth – the Interiors, Renovation and Construction (IRC) vertical grew 3x-4x. Similar growth was expected in 2020, but the pandemic has slowed things down.

The company waits at least 4x growth during FY21 in terms of the number of orders and turnover. The IRC vertical started in 2019, with Housejoy building homes for individuals, not developers or builders. “This is obviously a very moving undertaking,” says Sanchit.

He adds that the company’s labor sector has been hit hard due to the pandemic, as many workers have returned to their hometowns. There was customer support, and the company “supported them as well”.

On the B2C side, service providers such as plumbers and carpenters have been affected. This led Housejoy to venture into government building remediation and grocery delivery so that service providers could make a living.

Housejoy was doing 35-40 projects month after month in 2019, which came down to 10-15 projects after the pandemic hit. At the end of 2020, the company started to experience growth – and the projects went up to 20-25 month after month.

Sanchit says the start of home construction and maintenance saw a good number of projects in June 2021, especially last week when the team worked on more than 20 projects. On top of that, the B2C side started showing a good number of bookings.

“Customers were more worried about their health in April / May, but in June they realized that it was part of their life and that they needed to move on,” said Sanchit.

Focus on construction

The founder says Housejoy plans to focus on construction right now. “There will be competition on the B2C side, but on the vertical side of IRC, we’re the only company with the technology. “

The startup has already started working on the diversification aspect. Recently it has partnered as a solution partner with Nest-In by Tata Steel, which offers prefabricated solutions for housing, sanitation, drinking water, portable cabins and premium living.

On top of that, Housejoy is also working to diversify the tech side to provide customers with a hassle-free trip.

It operates in six cities on the B2C side and three cities on the vertical IRC side. Over the next three months, six more cities will be added to the vertical side of IRC. “We aim to be in 15 cities across the country and within a year, ”says Sanchit.

“We call ourselves a one-stop solution for home services. We design, build and maintain.