Israeli device repair company Puls (formerly Cellsavers) today announced the completion of a $50 million Series C fundraising round led by Temasek and with participation from previous investors Sequoia Capital, Red Dot Capital Partners, Samsung NEXT and Viola Ventures. The round also includes investments from Hanaco Ventures and Hamilton Lane.
Headquartered in San Francisco with offices in San Diego and Tel Aviv, Puls was founded in 2015 by Itai Hirsch and CEO Eyal Ronen. In August 2017, Puls announced a $25 million Series B financing round.
Puls proprietary software platform matches each consumer with the right skilled technician with the right parts, in as little as 60 minutes, 7 days a week. Puls’ US nationwide network now includes more than 2,500 vetted professionals in more than 50 US metro areas, providing same-day installation and repair for more than 200 high-growth products, including smartphones, big screen TVs, HD antennas, garage door openers, and smart home devices such as voice-activated speakers, video doorbells, keyless locks, AI cameras, smart thermostats, and security systems.
The new investment will promote Puls’ vision to transform the service industry by bringing swift support to the full life cycle of every device or appliance. Puls is capitalizing on two global trends: widespread adoption of affordable connected devices and ever-increasing consumer expectations for on-demand services.
Ronen said, “As consumers depend on electronic devices for every aspect of daily life, the world needs a new service model. No one should have to drive across town and stand in line to speak to an expert, or wait hours at home for a local repair van to show up. Puls is fixing the entire service industry to be seamless, rapid, and reliable. We will be the single point-of-contact, 24/7, and the only brand you need for anything with an ‘on’ switch.”
Puls is poised for massive growth, operating at the intersection of the on-demand home services market, estimated at over $400 billion, and the $50 billion home automation markets. By the end of 2018, there will be 11 billion connected devices globally - more than the number of people on earth. That’s forecast to double by 2020, when the average household will have 50 connected devices, creating an explosive need for integration, support, and repair services.
Published by Globes [online], Israel business news - www.globes-online.com - on August 28, 2018
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