Atlanta’s SingleOps raises $6M for its outdoor-care focused software business

In the present day SingleOps, an Atlanta-based software program startup, introduced that it has raised $6 million in new capital. The startup’s service is constructed to assist corporations that cope with outside work like landscaping, tree care and garden upkeep. It’s an instance of the vertical SaaS pattern that has come to the fore lately, with startups constructing software program companies tailor-made to specific enterprise classes.

The market that SingleOps is concentrated on isn’t small, thoughts. The corporate claims it’s price $100 billion every year. And which means there's plenty of room for SingleOps to develop.
Earlier than this new $6 million spherical, SingleOps had raised simply $2.5 million, utilizing that to scale as much as 30 workers (its software program group is distant, making the corporate extra ready for COVID-19 than most) and round 400 prospects. How did it do this in an period when most startups raised $2.5 million to scrub their workplaces? In keeping with the corporate’s CEO Sean McCormick and president Taylor Gould in an interview with TechCrunch, being capital-efficient has been a part of the corporate’s modus operandi since its early days. (You possibly can construct SaaS with restricted capital if early prospects write you checks, it seems.)

The SingleOps group, by way of the corporate.

However towards the top of 2019, SingleOps reviewed its SaaS metrics and, deciding that issues appeared good, aimed to speed up by bringing on new capital. The $6 million was led by Kansas Metropolis-based Five Elms Capital, with the agency taking a board seat within the transaction. In keeping with McCormick and Gould, they appreciated 5 Elms’ concentrate on B2B SaaS corporations like their very own. Diligence with present 5 Elms portfolio corporations additionally helped them in making the selection.
SingleOps’ product, notably, isn’t slim. As a substitute, the corporate’s service can log leads, deal with scheduling, assist present estimates, has a cellular app and offers with scheduling, value monitoring and invoicing and funds. With a bit tact, the self-described “inexperienced business” that SingleOps works with just isn't famend for being on the slicing fringe of technological change; by providing a broader function set, SingleOps can promote a single service to deliver companies in its goal area of interest all the way in which into the cloud period.
The bundle of options is sitting nicely with the market to this point, with SingleOps rising each GAAP income and ARR by “nicely over” 100% within the final 12 months, per its executives. And for the SaaS followers on the market, SingleOps averaged 120% internet retention over the past 12 months.
It was the primary name for TechCrunch that I’ve had that concerned a number of mentions of tree climbing as a part of a startup’s go to market movement. As such, we had no alternative however to jot down concerning the firm, because it’s totally different than most startups we discuss to, and due to this fact somewhat fascinating.

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