Workiz Secures $13M to Boost Productivity for Home Services

The Expanding Market for Field Service Management Software

For a long time, business-to-business (B2B) applications and services primarily targeted knowledge workers – professionals typically working at desks or with computers. However, with the increasing adoption of smartphones and connected devices, the potential to develop solutions for the broader global workforce is significantly expanding.

Workiz Secures $13 Million in Funding

Workiz, a platform designed to assist small businesses in the home services sector – including locksmiths, moving companies, and appliance repair services – has recently announced a $13 million funding round. This investment highlights the growing trend of providing technological solutions to field-based businesses.

The funding round exceeded initial expectations, growing to $13 million within a week of initial discussions, according to CEO Adi (Didi) Azaria. This success follows a year of substantial double-digit growth for the company.

Factors Driving Growth in the Field Service Sector

A key factor contributing to Workiz’s growth has been the increase in people working from home. This shift has led to greater wear and tear on homes and appliances, as well as a rise in demand for home improvement services.

As Azaria explains, increased home usage leads to more frequent breakdowns and a need for professional assistance. Customers now expect service professionals to utilize the same modern tools they themselves employ, viewing software as a necessity.

From Locksmith to Tech Entrepreneur

Interestingly, Workiz’s CEO, Adi Azaria, has a background as a locksmith, similar to co-founders Idan Kadosh and Erez Marom, alongside Saar Kohanovitch. Azaria is also known for co-founding Sisense, a business analytics company currently valued at over $1 billion.

Global Presence and Investment Details

Workiz maintains offices in both San Diego and Israel, with its research and development team based in Israel. This Series B funding round was led by Tel Aviv’s New Era Capital Partners, with participation from existing investors including Aleph, Magenta Venture Partners, Maor Investments, and TMT Investments.

While the exact valuation remains undisclosed, indicators suggest a positive trend for the startup. Workiz’s platform is currently utilized by approximately 100,000 service professionals across the U.S. and Canada.

Platform Usage and Growth Metrics

Since its founding in 2015 (originally as Send a Job), the Workiz platform has facilitated over 12 million jobs, 100 million text messages, and $5 billion in job revenue.

For comparison, competitor Jobber recently secured $60 million in funding after also reaching 100,000 service professionals on its platform.

A Large and Competitive Market

Despite the competition – which includes companies like ServiceTitan, GE’s ServiceMax, BigChange, Super, and others – the field service market remains substantial. Globally, there are approximately 20 million businesses focused on home services, with 5 million located in the U.S. alone.

Workiz aims to differentiate itself by identifying and addressing unmet needs within the existing market, integrating innovative solutions into its platform.

Innovative Features: Voice Service and Scheduling

One example of this innovation is Workiz’s voice service. Recognizing that field service professionals traditionally relied on phone calls for updates, the platform integrates calls into the overall job log, ensuring that all team members have access to the latest information.

Another key feature is the scheduling tool, which functions similarly to a shared Google Calendar, efficiently matching professionals with the appropriate skills, locations, and jobs.

Data Analytics for Field Service Professionals

Workiz also incorporates business analytics features, including call tracking, lead tracking, and a live dashboard to monitor job durations and scheduling accuracy. These tools, reminiscent of Sisense, extend data-driven insights traditionally available to knowledge workers to those working in the field.

Future Potential: Lead Generation

While the company is not currently focused on lead generation, the platform’s capabilities could potentially be expanded to connect service professionals with customers seeking specific services.

Focus on Core Functionality

Azaria emphasizes the company’s commitment to providing a best-in-class software-as-a-service (SaaS) solution. “We focus on making a best-of-breed solution,” he stated. “We understand how challenging it is to be a field service engineer, with phone calls, stress and disorganization.”

The goal is to equip service professionals with the tools they need to organize their day, enhance their professionalism, and project a larger, more established image.

Investor Confidence

Gideon Argov, managing partner at New Era Capital Partners, stated, “Field service management is a market ripe for disruption, with a technological approach that is both agile and competitive.” He added, “In Workiz, we found all the elements for success, coupled with passionate leadership that started from the field.” Argov will be joining the board of directors as part of this funding round.