Meet LawnStarter, A Profitable Austin-based Startup That Just Raised $10.5M
Summary
LawnStarter, which operates an on-demand lawn care and maintenance, announced this morning it has raised $10.5 million in a growth round led by Edison Partners. Via its website and mobile app, the Austin-based company matches consumers with a lawn or outdoor service, and makes a percentage of every such service that is booked on its SaaS platform Unlike many of the startups we cover, LawnStarter claims that it reached profitability earlier this year (unlike many of the tech companies that have gone public, or planned to go public, this year). LawnStarter currently operates in 120 cities in the United States, including Austin, Nashville, Tenn., and San Diego, Calif. Its revenue and net income is growing at a rate of 100 percent year-over-year, according to CEO and co-founder Steve Corcoran. “We saw a huge opportunity to help lawn care professionals and change the way consumers order and manage services,” he told me. “Several companies have tried to tackle the space but LawnStarter, we think, is the largest and has proven some really innovative capital efficient ways to grow.” With its new capital, LawnStarter plans to add additional services such as pest control to its platform, and “continue penetrating the lawn mowing and maintenance markets.” Meanwhile, the funding marks Edison Partners’ second investment in Texas.