Field Service Management Startup Workiz Raises $13M In Series B Funding
Introduces first-of-its-kind automated Service Phone System to improve customer experience and increase revenue for service professionals
Workiz, the leading field service management and communication startup, announced today that it has closed a $13 million Series B fundraising round led by New Era Capital Partners, with Managing Partner Gideon Argov joining the Workiz board. Additional investors include Aleph, Magenta Venture Partners, Maor Investments, and TMT Investments PLC.
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“While the home services industry has traditionally lagged in digital adoption, we aim to use these new funds to harness opportunities to provide clients with the transformative technologies they need to elevate the customer experience they deliver and reimagine their businesses through innovation.”
Workiz more than doubled revenue and clients in both 2019 and 2020. The cloud-based field service management solution enables service professionals to quote and schedule jobs, send invoices, receive payments, and manage clients, teams, and inventory with numerous avenues for automation, customization, and optimization across the platform. Workiz caters to over 100,000 service professionals across the United States and Canada who have scheduled more than 12 million jobs, sent upwards of 100 million text messages to clients, and earned over $5 billion in job revenue.
“What started as a venture between friends now spans multiple industries and locations across North America. This new round of funding highlights the momentum that has kept growing since our launch in 2015, thanks to our ongoing commitment to R&D focused on empowering home service professionals through technological capabilities,” said Workiz CEO Adi (Didi) Azaria. “While the home services industry has traditionally lagged in digital adoption, we aim to use these new funds to harness opportunities to provide clients with the transformative technologies they need to elevate the customer experience they deliver and reimagine their businesses through innovation.”
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The pandemic has accelerated changing customer expectations of digital engagement. Now more than ever, locksmiths, carpet cleaners, appliance repair specialists, junk removal professionals, and other essential home service providers are positioned to embrace innovative tools to replace pen and paper, automate client communications, enhance customer experience, and increase revenue for their small businesses.
“Field service management is a market ripe for disruption, with a technological approach that is both agile and competitive,” said Gideon Argov, Managing Partner at New Era Capital Partners. “In Workiz, we found all the elements for success, coupled with passionate leadership that started from the field. We are delighted to join the Workiz team.”
Long before businesses were shut down and social distancing was the norm, three friends set out to start a locksmith business in San Diego. In an effort to optimize their advertising budget, Erez Marom, Idan Kadosh, and Saar Kohanovitch—who would later go on to sell their business for $1 million and found Workiz—bought separate mobile phones for every Yellow Pages ad they took out to evaluate which ads brought in more leads.
Inspired by that pile of cellphones, the company is debuting the Workiz Service Phone System, an experience-driven digital solution to replace time-intensive and mistake-prone manual processes associated with telephone-based service calls. From first-hand knowledge, Workiz’s founders understood that all service calls start with a phone call, and so they conceived of the Service Phone System to deliver control to business owners over their customer communications. The Service Phone System features easily accessible and automatically indexed call recording, profitability-conscious ad source tracking, and patented call masking technology that provides discretion both to the business and to the end consumer. Business owners gain peace of mind knowing that all calls between dispatchers, technicians, and customers are recorded and monitored, and customers enjoy responsiveness and professional service even in the most urgent circumstances.
“We rely on the Workiz Service Phone system to field around 1,000 customer calls a month. The call queuing and ad tracking features have enabled us to interact more effectively with customers and have improved our bottom line by boosting team production, expanding communication, and increasing our sales. We could not manage our call volume without this comprehensive phone system,” said Majid Khoddami, Co-founder and CEO of Xigman, a national home services provider.
