A Dallas startup aimed at disrupting the home repair and warranty business recently raised $2 million in seed money so it can expand to Austin, San Antonio, and Houston in January.
The Fixd app gives homeowners a way to find qualified professionals for repairs and installations just by swiping on the screen. It’s a one-stop shop for professionals for air conditioning, appliances, locksmiths, plumbing issues, electrical problems, and swimming pools.
“Our culture is built on simple values, how much did we save our customers, how fast was the service delivered?”
Scheduling, pricing, arrivals, and payment are all done through the app. Like Uber, the homeowner can see as the repair professional approaches their house. And homeowners also can buy warranties through the app.
Founders Evan Myers and Brandon Bohannan launched Fixd in November to refute the negative perception people have for traditional home warranties.
“We love the home warranty space because there’s a lot of opportunity to improve it,” Bohannan said. “Our culture is built on simple values, how much did we save our customers, how fast was the service delivered?”
Fixd has its own licensed plumbing and electrical contractors who do about 75 percent of the jobs. The others are outsourced to third parties.
FIXD HAS RAISED A TOTAL OF $3M IN FUNDING
Fixd raised $1 million last year and recently raised another $2 million in a seed round from angel investors.
“When you have a round that large coming out of Dallas it means more than when you see a round that large coming out of the coasts.”
The most recent funding round featured investment from serial entrepreneurs Mike and Steve Markwardt, Bryan Chambers, Len Critcher, Chris Camillo, and Jordan Mclain.
Steve Markwardt invested in Fixd after getting to know the team and called it a game changer.
“This is an industry and space that desperately needs this,” Markwardt said. “This thing could go nationwide. We’re pretty excited about it.”
Fixd’s story is already a success story for North Texas.
“When you have a round that large coming out of Dallas it means more than when you see a round that large coming out of the coasts,” Camillo said.
BOOK REPAIR PROFESSIONAL IN MINUTES VIA APP
Fixd allows users to book a repair professional in less than a minute with a few easy steps.
The Fixd name isn’t just a callback to fixing things at the house, it also references the fact that the price of the job is fixed before you hire them. There’s a messaging feature so you can communicate with the professional before and after the service is done without giving out your phone numbers. And customers rate their experience, too.
They do face competition from Amazon Home, Home Advisor, Thumbtack, and other apps that are popping up. Fixd sets itself apart by mostly using its own contractors, Myers said. Property managers also can use Fixd to manage multiple single-family homes.
Fixd sets itself apart by mostly using its own contractors.
The business model works because it solves a real problem that homeowners have, which is finding trustworthy service professionals and a company that will honor home warranties, Camillo said. The traditional model is fragmented and the companies don’t have any incentive to form long-term relationships with the customers.
“Aggregating all those services under one brand, that’s a good incentive to keep that relationship over a long period of time,” he said. “It’s an incentive model where the company can be more transparent with the customer and provide a more efficient service, by that I mean charge less.”
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