CellSavers Raises $15 Million in Series A Funding From Sequoia Capital and Carmel Ventures
technology platform specializing in anytime, anywhere mobile device repair will
use funding to continue explosive growth and top-rated service
SAN FRANCISCO / August 18, 2016 /
Business Wire –
CellSavers, the on-demand mobile repair platform, today announced it has raised
$15 million in Series A funding, led by Carmel Ventures, with participation of
seed investor Sequoia Capital.
The Series A capital will be used by CellSavers to further accelerate the
growth of its end-to-end technology platform, which uses proprietary algorithms
to intelligently match consumers in need of smartphone and other mobile device
repairs with qualified and skilled rapid-response technicians, referred to as Savers,
in their local area.
The funding will also enable the continued expansion of a service that has
scaled impressively since its launch in mid-2015, growing by 35%
month-over-month. This fundraising round reflects investor confidence in the
operational excellence of the company, which delivers profitable unit economics
on every repair. CellSavers’ 5-star service is already available nationwide in
major metropolitan areas including New York, Los Angeles, San Francisco,
Houston and Chicago.
CellSavers provides an outstanding customer experience by ensuring that repairs
are as quick and convenient as possible, minimizing the time consumers are
without a working device. Qualified and vetted local Savers aim to reach
customers within 60 minutes, regardless of their location, carrying out precise
“Eyal Ronen and Itai Hirsch are impressive, disciplined, creative founders who
have demonstrated that a strong company vision, coupled with strict operational
discipline can yield tangible results. They’ve built a solid business based on
a real-world need and created a strong foundation for a great national consumer
brand” said Carmel Ventures Partner Daniel Cohen, who is to join CellSavers'
board of directors.
Eyal Ronen, CEO & Co-Founder of CellSavers, said, “It was incredibly
important to us that we work with partners like Daniel Cohen who understand how
to build and scale on-demand businesses. This investment is a big step towards
a world where you can get any technical service for any smart device you own,
right at your door and within 60 minutes.”
Gili Raanan, General Partner at Sequoia Capital, said: “We are thrilled to be
business partners with Eyal, Itai and the whole Cellsavers team. We continue to
be extremely impressed with the rapid, healthy and sustained growth of
CellSavers and with the positive unit economics the company has already
achieved in few major markets."
At CellSavers, we know what a headache
getting a broken smartphone fixed can be. We take the pain out of repairs by
making them as quick and convenient as possible, so people can get on with
living their lives. Our end-to-end technology platform uses proprietary
algorithms to match customers with a local, qualified and vetted technician—a
Saver—who will aim to reach them within 60 minutes and repair their device to
the highest-possible standard, anytime, anywhere. All our Savers are
extensively vetted, certified and monitored, and every repair comes with a
warranty and guaranteed safety for phone data. CellSavers is headquartered in
San Francisco, California. Our service is available in cities across the nation
and expanding fast.
Follow CellSavers at: