Puls Technologies, a U.S.-Israeli provider of services to connect consumers with technicians to fix smart technology devices, said on Tuesday it raised $50 million in a private funding round led by Singapore-based investment firm Temasek.
Current investors Sequoia Capital, Red Dot Capital Partners, Samsung NEXT and Viola Ventures all participated in the new financing, alongside additional new investors Hanaco Ventures and Hamilton Lane.
Its proprietary software platform matches consumers with technicians in as little as 60 minutes, seven days a week. The company has built a network of 2,500 technicians in the top 50 cities in the United States, and will provide same-day installation and repair of over 200 products. They can be summoned to install or repair products such as smartphones, big screen TVs, HD antennas, garage door openers, and smart home devices, including voice-activated speakers, video door bells, keyless locks, AI cameras, smart thermostats, and security systems. The target is to fix 85 percent of problems within the allotted appointment time.
Puls noted it was capitalizing on two global trends: widespread adoption of affordable connected devices and increasing consumer expectations for on-demand services.
Puls operates the whole chain for customer support. Puls’ technicians are available for on-demand service seven days a week. Their vehicles are like “mobile warehouses,” stocked with the parts they need based on Puls’ sophisticated inventory system, said Puls CEO Eyal Ronen in an interview with VentureBeat. “We deliver a technician to your door, to fix anything,” said Ronen. “We started with mobile devices only, offering service as a standalone company. We guarantee the service and repairs and have thousands of freelancers on call.”
“We have an inventory system where we can see who has the right tools and inventory in an area to do a job,” Ronen said. “With machine learning, we can estimate what is most likely to be used or needed. We’re delighted to have Temasek leading this round,” said Ronen. “As investors in global online leaders, Temasek brings incredible expertise to our board. It’s a huge vote of confidence in our vision, team, and execution, as we accelerate our direct-to-consumer business and expand strategic partnerships with big name retailers, insurance companies, and hardware OEMs.”
"We would like to add more and more verticals, like home appliances next year,” Ronen said. “We want to cover 80 percent of the U.S. population and be a well-known household brand.”