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FT Partners Advises Porch on its Acquisition of Serviz

Overview of Transaction

  • On August 22, 2018, Porch announced its acquisition of Serviz
  • Founded in 2012, Serviz is a Los Angeles-based home services company that allows users to discover and book appliance repair, plumbing, electric, handyman and carpet cleaning services through its online and mobile platform
  • Serviz’s pros operate in 25 markets and have performed more than 40,000 jobs to date
  • The Company received backing from investors such as Groupon and PointGuard Ventures
  • Headquartered in Seattle, Porch is an online platform that connects homeowners with local home repair services; the Company offers consumers access to over 300,000 home service professionals
  • Porch has raised over $100 million since its inception in 2012 and is partnered with leading brands and retailers including Lowe’s, Walmart, Overstock.com, Wayfair and Google

Significance of Transaction

  • Through the acquisition of Serviz, Porch will reach more customers and accelerate its growth in service types such as plumbing, electric, appliance repair and more
  • Porch will integrate Serviz’s mobile application technology within its existing online platform, providing consumers and service providers with a seamless, high-touch experience

FT Partners' Role

  • FT Partners served as sole strategic and financial advisor to Porch
  • This transaction highlights FT Partners’ success advising leading high-growth companies across the Home Services / Real Estate technology space