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Fishers tech startup lands $1 million in seed capital

October 21, 2014

A Fishers-based tech startup in the home-services industry said Tuesday that it has raised $1.03 million in venture capital, including seed funding from a pair of well-known Indiana investment groups.

The company, called Haven, is developing a free mobile application and website that targets homeowners’ routine maintenance and repairs.

The "predictive" app makes maintenance suggestions based on the time of year, upcoming weather events and the age of the housing stock in a particular neighborhood.

“There are hundreds of sites out there that you can go and get a maintenance schedule from, but none of them were relevant to my house,” said Haven President and co-founder Jim Brown. “With this, we’re trying to get you the right information at the right time.”

Private equity group Elevate Ventures and Indiana University’s Innovate Indiana Fund led the funding round, and 16 other angel investors participated.

Brown and co-founders Craig Sturgis and Joe Wanninger launched the firm in February and raised the capital this summer.

Haven has eight employees and just under 1,000 users for the app, which is in its beta phase. A full rollout is expected in January.

Brown, 33, said the company expects to have about 13,500 Indianapolis-area users by the end of 2015.

For those with a do-it-yourself bent, the app gives tools and tips. For those looking for experts, Brown said, the app provides an exclusive vetted list of service providers and their prices.

Among other things, the app provides a custom reminder and tracking system; lists of licensed, insured service professionals; and scheduling and payment capabilities. There are about 15 service providers, and Haven expects to have between 45 and 60 next year. The firm makes commissions based on a percentage of its service providers’ closed sales.

“The Haven team has developed an impressive product vision based on a deep understanding of customer pain points in a sizable and growing market,” Ting Gootee, chief investment officer of Elevate Ventures, said in a written statement. “We are excited about the potential in their passion and well-rounded capabilities to capitalize on the opportunity.”
 

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