StreetFair Company Profile

Background

Overview:
StreetFair, established in 2021 and headquartered in Charlotte, North Carolina, operates an online marketplace that connects homeowners with trusted local service providers. The platform leverages neighborhood-based referrals to facilitate the hiring of service professionals, aiming to enhance trust, offer competitive pricing, and reduce the carbon footprint associated with home services.

Mission and Vision:
StreetFair's mission is to simplify the process for homeowners to hire top service professionals their neighbors already use and trust, while simultaneously driving route density for local pros. By formalizing word-of-mouth recommendations, the company envisions creating a more efficient and community-oriented home services marketplace.

Industry Significance:
In the burgeoning home services industry, StreetFair distinguishes itself by emphasizing community-driven referrals and neighborhood engagement. This approach not only fosters trust among users but also promotes local businesses, contributing to the economic vitality of the communities it serves.

Key Strategic Focus

Core Objectives:

• Enhancing Community Trust: By facilitating connections based on neighbor recommendations, StreetFair aims to build a trustworthy network of service providers.

• Promoting Local Businesses: The platform focuses on driving business to local service providers, thereby supporting the local economy.

• Reducing Environmental Impact: By optimizing service routes within neighborhoods, StreetFair seeks to decrease travel distances for service providers, leading to lower carbon emissions.

Areas of Specialization:

StreetFair specializes in a wide array of home services, including but not limited to:

• Gutter Cleaning

• Tree Removal

• Pressure Washing

• Landscaping

• Painting

• Handyman Services

• Junk Removal

• Window Cleaning

• Lawn Maintenance

• Pest Control

This diverse service offering caters to the comprehensive needs of homeowners, ensuring a one-stop solution for various home maintenance tasks.

Key Technologies Utilized:

StreetFair employs a robust technological platform that includes:

• User-Friendly Interface: A seamless web and mobile application that allows homeowners to easily browse, book, and review services.

• Integration Capabilities: The platform integrates with various business applications such as Zapier, Jobber, and Housecall Pro, enabling service providers to automate workflows and manage operations efficiently.

• Data Analytics: Utilization of data analytics to monitor service provider performance, customer satisfaction, and market trends, facilitating continuous improvement and strategic decision-making.

Primary Markets Targeted:

Initially launched in Charlotte, North Carolina, StreetFair has expanded its services to:

• Dallas, Texas: Establishing a presence in the Dallas-Fort Worth area to cater to a broader customer base.

• Raleigh, North Carolina: Recently expanded to the Raleigh area, including North Raleigh, Morrisville, Cary, Apex, and Holly Springs, reflecting the company's growth strategy and market demand.

These expansions demonstrate StreetFair's commitment to scaling its operations and meeting the needs of diverse communities.

Financials and Funding

Funding History:

StreetFair has successfully secured funding to support its growth and development:

• February 2022: Raised $1.7 million in a seed funding round.

• May 2023: Secured an additional $6.8 million in seed funding.

Total Funds Raised: As of May 2023, the company has raised a total of $8.5 million.

Notable Investors:

The funding rounds have attracted investments from prominent venture capital firms, including:

• Craft Ventures: A venture capital firm known for investing in early-stage technology companies.

• 1984 Ventures: A venture capital firm focusing on seed-stage investments.

• 1Sharpe Ventures: An investment firm supporting innovative startups.

• Charlotte Fund: A venture capital firm investing in local startups.

• Sri Batchu: An angel investor with a focus on technology startups.

Utilization of Capital:

The capital raised is intended to:

• Expand Market Reach: Facilitate entry into new geographic markets and increase user acquisition.

• Enhance Technology: Invest in platform development to improve user experience and integrate advanced features.

• Scale Operations: Grow the team and infrastructure to support increased demand and service offerings.

Technological Platform and Innovation

Proprietary Technologies:

StreetFair's platform is built on proprietary technology that enables:

• Neighborhood-Based Referrals: A system that aggregates and displays service provider recommendations from neighbors, enhancing trust and reliability.

• Service Provider Integration: Tools that allow service providers to manage bookings, showcase past work, and receive real-time referrals.