Requesting repair services for home appliances often takes a long time and is expensive. The US startup Super wants to change that through its subscription service: for plans starting from $20 per month, home owners receive breakdown coverage and further services. In a recent Series B funding round, the startup received $20M to grow their business. One of the investors is Solon Mack, a single family office of the Mack family, which is rooted in real estate and featured in our list of single family offices in the United States.
Turning the billion dollar home services and repairs industry in a subscription model
Venture capital firms love subscription services combined with a scalable business model. Super is creating such service in a industry, which is usually known for not being customer friendly. For example, Super’s subscribers can request a service through phone, online or mobile. Expenses and repairs are covered (besides a $75 service fee). The startup lists the advantages of their service as making expenses predictable, easier and better. So far, Super is available in Washington D.C., Virginia, Maryland, New Jersey, Pennsylvania, Illinois, Texas and New Jersey. Through the recent Series B round, Super wants to grow its business in further US states.
Prestigious investors like the Qatar Investment Authority are accompanying the Solon Mack family office
The $20M funding round, which is led by Aquiline Technology Growth, has many other well-known participants: the Qatar Investment Authority, 8VC, Moderne Ventures, Liberty Mutual, Munich Re Ventures and Solon Mack. 8VC is the venture capital fund of Joe Lonsdale, an early employee of PayPal and co-founder of Palantir, Munich Re Ventures is the venture capital arm of the world’s largest re-insurance company. Solon Mack Capital is the investment firm of the Mack family, which is mainly active in real estate. The Mack family realized many notable development projects in California, Washington and Oregon.
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Picture source: Sandro Schmocker
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