# Spruce Services

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/spruce-services

- Industry: Consumer Services
- Headquarters: Austin, US
- Website: www.getspruce.com
- Total disclosed funding: $30M
- Latest round: Series B (May 24, 2022)
- Investors on record: 7

## About

Spruce Services, Inc. is a technology-driven company that simplifies chore management and cleaning for residential and rental property clients through its innovative Spruce App.Founded in 2015 and headquartered in Austin, US, Spruce Services, Inc. provides a digital platform for chore management. The company has successfully closed 7 deals, with its most recent funding round occurring on May 24, 2022. The company raised USD 22.02 mn in SERIES B funding, led by Sweat Equity Partners and joined by investors including SoftBank Corp. and New Age Ventures. The company's CEO is Bruno Cardoso, and the founder is Hazel Liau.Spruce offers a comprehensive suite of services designed to facilitate chore management and cleaning for both residential and rental property clients. The core product is the Spruce App, which allows users to effortlessly book a range of cleaning services, including whole-house cleans, tidy-ups, and specialized requests for individual rooms. This service is targeted towards property managers of short-term and medium-term rentals, as well as individual residents seeking assistance with housekeeping tasks such as dish cleaning, laundry folding, and organization. Spruce's client base includes top property managers in high-end apartment communities, leveraging their expertise to ensure resident satisfaction and operational efficiency. The company's services are primarily offered in urban markets across the United States, catering to a diverse demographic that values convenience and reliability in home maintenance.Spruce generates revenue through a service-based model where clients, including property managers and individual residents, engage with the platform to book cleaning and chore-related services. The transactions typically occur on a per-service basis, where clients select and schedule specific cleaning tasks via the Spruce App. This structure enables flexible pricing based on the requested services, which may include options such as whole-house cleaning or targeted tasks like oven cleaning and carpet deodorizing. Spruce partners with vetted and insured service providers who perform the tasks, ensuring quality and trustworthiness in service delivery. This model is designed to enhance customer satisfaction and loyalty, translating into recurring business opportunities for both Spruce and its service providers.In May 2022, Spruce Services, Inc. raised USD 22.02 mn in SERIES B funding, which will be utilized to expand its market presence and increase its workforce. The company plans to enhance its product offerings and build new features within the Spruce App. Additionally, Spruce is looking to expand into new urban markets across the United States to capture a broader client base. The funding supports these initiatives, aiming for a more extensive reach in the chore management sector.

## Funding rounds

- Series B, May 24, 2022, $22M — Mercury, SoftBank Corp., Fitz Gate Ventures, Raven Capital, New Age Ventures, Sweat Equity Partners, Seamless Capital
- Series A, Nov 11, 2020, $8M — Mercury, Sweat Equity Partners

## Investors

- Mercury (https://capitalatlas.ai/funds/mercury) — Series A, Series B
- Sweat Equity Partners (https://capitalatlas.ai/funds/sweat-equity-partners) — Series A, Series B
- SoftBank Corp. — Series B
- Fitz Gate Ventures (https://capitalatlas.ai/funds/fitz-gate-ventures) — Series B
- Raven Capital (https://capitalatlas.ai/funds/raven-capital) — Series B
- New Age Ventures (https://capitalatlas.ai/funds/new-age-ventures) — Series B
- Seamless Capital — Series B