Super: Subscription Service that Provides Care and Repair for Home

Subscription-based home repair and maintenance services – Attracted $20 million in investment

Super is a subscription service that provides care and repair for homes. 

By subscribing to the monthly or annual subscription service, you can call in a repairman and manage maintenance whenever your home, appliance or furniture needs repair.

It is easy to apply by phone, online, or mobile, and the advantage is that subscribers can accurately predict the maintenance cost of their house.

Super

Super is a San Francisco-based insurtech company. Powered by a proprietary data platform and backed by leading investors, Super offers subscription-based care for your home. Partnering with the best local servicers to deliver quick and effective home repair and maintenance at a predictable cost, Super’s vision is to make caring for a home carefree.

From desktop, tablet, or mobile phone, subscribers are only one tap away from getting the service needed for homes. The company pays for repairs and breakdowns on covered appliances and home systems. Its maintenance schedule helps people understand the needs of a home.

General Information

• Headquarters : San Francisco, California
• Founders : Bill Davis, Jorey Ramer, Ryan Donnelly
• Categories : Home Services, InsurTech, Property Development, Property Management, Real Estate
• Founded : 2015
• Contact : customerservice@hellosuper.com

Funding

• Investors : 8VC, Aquiline Technology Growth, Constance Freedman, Liberty Mutual Insurance, Moderne Ventures, Munich Re Ventures, Qatar Investment Authority, Solon Mack Capital, AAA, Asahi Kasei, Gaingels, Second Century Ventures, Wells Fargo Strategic Capital
• Funding Rounds (4) - $79.6M
• May 19, 2021 Series C / $50M
• Apr 17, 2019 Series B / $20M
• Dec 1, 2016 Series A / $6M
• Nov 5, 2015 Seed Round / $4M

1. Reason for attention and features

•  'Rent', which is used only when necessary rather than 'own', 'share' where other people use it when not in use and receive money, and 'subscription' model in which regular payment is made is in the spotlight

• Millennials, who value diverse experiences, actively participate in socially-based interest-based communities, and are relatively weak economically, are less reluctant to subscribe according to their lifestyle

• Beyond Netflix or Dropbox's content and software, it is also expanding to products and services in the offline area - sharing cars (Lift), razors (Dollar Shave Club), luxury clothing (Streaming), groceries (London Tea Club), automobiles (Porsche), furniture (Feather), etc. -

•  According to Forbes, US subscription website visitors have grown more than 800% annually since 2014.33333

2. Current service status and outlook

• Beyond simple home repair services, data-based forecasting of maintenance costs for customers' homes, providing repair history,  and maintaining the house in its best condition through continuous management can suggest directions for increasing the value of the house.

• This is a case of showing that the subscription service is applicable to technology-based upgrades in terms of data accumulation and utilization beyond a simple B2C price system by linking the subscription model with Property+Tech.

• The question, however, is whether offline services can achieve economies of scale that reduce marginal costs

3. Advantages of business model

• Subscription models have many advantages for validating business models such as predictable cash flow, data-driven service improvement, repeat purchases or benefits to loyal customers and acquisition of new customers.

• However, subscriptions are not one absolute business model and there are many ways to scale quickly and drive conversions.

• From the user's point of view, subscriptions can lead to unnecessary over consumption

Source: Super

👉• Web: https://hellosuper.com