Raleigh startup Canopy, which uses technology to make it easy for consumers to purchase and schedule lawn maintenance services, has raised $2 million in new funding to expand to new markets.
“The money is all about growth,” said CEO Hunt Davis.
Canopy, which was founded in 2014 as Pack Purchase, launched its service in the Triangle in August 2015 and to date has lined up “a few thousand” recurring customers for its services, Davis said.
Now that the company has honed its business model, it’s ready to move into new markets, starting with Charlotte. Davis said that Canopy will be operating in the Queen City “by March 1 at the latest.”
Canopy currently has about 35 employees and expects to add at least 40 workers in 2017, Davis said. Roughly one-third of those new hires are expected to be local.
Canopy’s latest funding, which pushes its total funding so far to $3.9 million, was led by home improvement retailer Lowe’s, which is based in Mooresville, N.C. Also participating in the funding was Durham venture capital firm IDEA Fund Partners.
Canopy started out as a middleman of sorts, partnering with local service providers to provide a variety of routine home maintenance services that consumers ordered online. But at the outset of 2016 it changed course.
Today the company focuses on lawn maintenance services – such as mowing, pruning and fertilization – and pest control services that are provided by its own employees rather than third parties.
“It’s a much more transparent, controlled, consistent process,” Hunt said.
Canopy combines real estate data plus proprietary software to provide quotes online without ever visiting the prospective customer’s home. It also uses technology to create scheduling efficiencies. Customers can opt to be notified via email or text messages when a crew is headed to their home.
Davis said that quotes are provided in less than 15 minutes.