The Porch is making another acquisition, its second after the home improvement startup emerged from a self-imposed quiet period almost a year ago following a challenging time that included significant layoffs.
Porch said it acquired Kandela, a Los Angeles-based company that aims to simplify the moving experience by setting up the installation of home services like TV, internet, and security systems. The Porch would not disclose how much it paid for the 100-person company. Porch CEO Matt Ehrlichman. (Photo via Porch)
“Kandela’s mission closely aligns with Porch’s — to make tasks related to the home easier, faster, and simpler,” Porch CEO Matt Ehrlichman said in a statement. “Kandela’s suite of services is a natural extension of the work Porch is already undertaking.”
Ehrlichman said the deal will help “make that initial transition period as seamless as possible while helping make people’s houses feel like home.”
Kandela is Porch’s fourth acquisition in the last three years. Last August, Porch bought Serviz, a smaller home services company focusing on appliance repair, plumbing, electric, handyman, and carpet cleaning. Other recent acquisitions include home services company Done.com and robotic lawn service startup Robin Lawncare.
Porch grew rapidly and raised $100 million less than two years after it emerged from stealth mode in 2013. But just months later, Porch reduced its headcount from 500 to 250 as the company was forced to repair the business.
The company emerged from a two-year quiet period last year and has resumed its growth trajectory. With the acquisition, Porch has returned to its peak headcount of 500.
Ehrlichman told GeekWire last year that he expects the home services market to grow to $600 billion within five years. He considers Porch the second-largest player behind HomeAdvisor.
Porch said it has 250,000 professionals in its marketplace. The company partners with large retailers, including eBay, Overstock, and Pottery Barn. Last year, Porch facilitated more than 2 million projects that generated more than $1 billion in revenue for the businesses on its platform.
