NEW YORK — Zephyr has raised more than $60 million in new capital, led by Elda River Capital and The Pritzker Organization.
Zephyr, a technology-enabled platform for home services businesses, will use the funding to support additional acquisitions of home services businesses and continued technical innovation, a press release from the company said.
This latest round brings Zephyr’s total funding to nearly $100 million since it started operating in November 2022, the press release said.
Zephyr acquires local service providers in targeted markets, integrates them into a unified technology and productivity platform, and drives growth at those brands with centralized support in recruiting, training, marketing, operations effectiveness, finance, and more, the press release said.
“Zephyr is accelerating the digital transformation of home services,” said Michael Dean, a partner at Elda River. “The Zephyr platform prioritizes the technician experience to deliver improved customer comfort through superior service, enhanced technician knowledge, and the installation of more energy-efficient mechanical systems.”
The HVAC, electrical, and plumbing markets capture more than $125 billion each year, but the industry is facing a labor shortage that is set to undermine an already fragmented market. The employee experience in the skilled trades has fallen far behind other industries, and Zephyr is working to solve that problem by using technology and people management to attract and retain technicians, the press release said.
Zephyr has closed on 12 acquisitions to date in a handful of target geographies, including the metro areas of Washington, D.C., Houston, Texas, Palm Beach, Florida, and Denver, Colorado.