ServiceWhale Receives $1M Follow-On Funding

First Online Marketplace for Home Improvement Projects Expands into New York City

Trevose, PA, December 15, 2015 – ServiceWhale, Inc., the only online marketplace for major home improvement projects, is ending 2015 poised for explosive growth in the New Year. One of ServiceWhale’s existing investors has exercised an option to provide the company with an additional $1M in funding, bringing the total investment for ServiceWhale to $2.5M in the past 14 months. In addition to the funding, ServiceWhale is expanding beyond its pilot city of Philadelphia and now offering services in New York City.

ServiceWhale allows homeowners to get instant, custom quotes on big ticket home services and order projects at a fixed price. ServiceWhale’s patent-pending quoting technology makes it as easy to shop for a home improvement project as it is to shop for nearly any other consumer product online.

“Our goal at ServiceWhale is to make it as easy to shop for and purchase a major home improvement project online as it is a pair of sneakers,” said Dmitri Saveliyev, founder and CEO of ServiceWhale. “Our success continues to be validated by both homeowners and contractors. In fact, about 80 percent of homeowners who have booked projects through ServiceWhale are already researching their next service through the platform. We have also seen a 90% acceptance rate among our contractors signed up for ServiceWhale. More than $40M of construction projects have been quoted through our platform to date and we are adding new service offerings on a weekly basis.”

ServiceWhale has been operating in and around the Philadelphia metro area since April 2015. It continues to add new contractors to its stable of vetted service providers daily. As it expands into New York City, the initial rollout includes the five boroughs, where ServiceWhale has already signed up a solid base of contractors.

“Following our steady success and proven experience in the Philadelphia region, we have started to realize the plans for our expansion into New York City,” commented Saveliyev. “New York and its unique circumstances for home improvement clients and service providers are a perfect fit for our model. In fact, plans are already made for ServiceWhale roll-outs in Washington, DC and Boston in 2016.”

Using the easy-to-use estimating tools, homeowners currently have the ability to shop for services such as heating and cooling (HVAC), hot water tank replacement, flooring, interior and exterior painting, roofing, siding, windows and doors and bathroom remodeling will be available very soon.

In addition to the self-service model, the company rolled out a white label solution designed specifically for contractors called MyServiceWhale in September. This subscription-based solution allows contractors to instantly generate quotes directly from their own websites by simply installing a widget. In fact, contractors who licensed MyServiceWhale have already seen a 40% increase in converting visitors into leads as they are providing homeowners what they want most – clear, instantaneous and upfront pricing for major projects. When searching for a quote, homeowners typically use keyword terms such as ‘price, cost and estimate’ and MyServiceWhale performs extremely well in this capacity.

About ServiceWhale, Inc.

ServiceWhale, Inc. is the only online marketplace for consumers to shop for and buy major home improvement projects. Through ServiceWhale’s patent-pending quoting technology, contractors simplify their estimating process by pre-loading pricing for the services they offer, and consumers receive instantaneous custom prices with no risk or requirement to proceed. ServiceWhale also offers MyServiceWhale, a subscription-based white label solution that allows contractors to instantly generate quotes directly from their own website by simply installing a widget. For more information or to book your project, please visit http://ServiceWhale.com.