Though still new, Pronto, a new model SaaS marketplace that helps domestic workers find consumers—and vice versa—has grown like wildfire in less than a year. Founded by Anjali Sardana, the company has rapidly gained traction among working professionals in Gurugram, a satellite city of New Delhi. Pronto, which just came out of stealth mode three months ago, has a very different take. Since then, the company has tripled that valuation and raised $13 million in two rounds.
The company was recently out officially launching its services, closing a $2 million seed round at a $12.5 million valuation. Pronto had quite a run as well, raising an incredible $11 million in their Series A funding round. General Catalyst and Glade Brook Capital co-led the investment, increasing Pronto’s post-money valuation to $45 million. This incredible growth trajectory is an encouraging indicator of the demand for its virtual concierge services from busy professionals looking for trusted help around the home.
Pronto runs six hubs in Gurugram and employs an active workforce of over 750 registered domestic workers on its platform. The company says its bookings are in the four digits every single day, underscoring the extraordinary demand for its products. Sardana credits a lot of this success to the remarkable speed at which they scaled and executed their business model.
“It largely comes down to two things: one being momentum and the insane speed at which we were scaling, as well as just investors recognizing the quality of the team and how fast we were executing,” said Anjali Sardana, founder and CEO of Pronto.
Things are going really well for Pronto right now. To begin with, it is looking to plexify aggressively in Gurugram itself and launch in large metro cities such as Mumbai and Bengaluru in next 12-18 months. The firm expects to reach an annual recurring revenue between $750k and $1.5m.
Pronto’s quick ascent has caught the attention of industry big-wigs. Rahul Garg, an early investor in the company, expressed confidence in Sardana’s leadership and vision for a sustainable future. He commented on the strength of her record considering her age and time lived outside the country.
“Given how young she is, given that she spent a lot of her time in the U.S. after she’s come to India, what she’s been able to achieve, the feedback from supply partners, the feedback from customers, her thought process, and how she wants to build and scale this business, we found it very inspiring,” Garg stated.
He stressed that the market for household workers is huge. This develops out a positive competitive ecosystem for Pronto and the region as it allows for several attractive entrants to coexist.
“Whichever way you look at the market, this is large enough for multiple players to build an endurable business,” Garg noted.
Pronto has a lot of exciting things underway as it scales up its operations and improves its offerings. Hela’s company is devoted to providing quality service that looks out for the interests of customers and domestic workers. Their innovative approach reflects a growing trend in how technology can facilitate everyday needs while bridging gaps in labor markets.
