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Smartphone Repair Co. CellSavers Raises $15m

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Thursday, August 25th, 2016

Israeli startup CellSavers, which provides an on-demand repair platform for smartphones and other mobile devices, has completed a $15 million financing round led by Carmel Ventures, with participation from Sequoia Capital Israel.

As reported in Globes:

The current funding follows the company’s $3 million round in seed funding led by Sequoia Capital in December 2015. The company will use the capital raised to further accelerate the growth of its platform and service.CellSavers’ platform is based on an end-to-end technological and operational solution, which enables the company to match consumers and skilled professionals in real time.CellSavers strives to provide an outstanding customer experience by ensuring that repairs are as quick and convenient as possible, minimizing the time consumers cannot use their device. Qualified and vetted local ‘Savers’ aim to reach customers within 60 minutes, regardless of their location, carrying out precise guaranteed repairs.

CellSavers was founded in 2015 by CEO Eyal Ronen and president Itai Hirsch, who gained a significant track record of founding and managing global B2C companies and teams. CellSavers employs 30 development, operations, and marketing staff at two centers in California and one center in Israel. CellSavers has already begun a major hiring round for its Israeli development center in Herzliya, including software engineers, team leaders, and product managers, in order to support its rapid growth.

Ronen said, “CellSavers’ vision is to reliably, easily, and quickly repair or replace any malfunctioning technology product. For this purpose, we have built a very sophisticated technology infrastructure, which allows a real-time matchmaking between technicians, skills, parts and consumers. In the near future, when any electronic device – game console, smart TV, Wi-Fi router, or any other device – will need to be fixed, a skilled technician, specifically trained for the task and equipped with all necessary replacement parts, will arrive at the location of the consumer’s choice within 60 minutes. The technician will provide a professional, warranty-backed service, complemented with full customer service.”

Carmel Ventures general partner Daniel Cohen, who will join the CellSavers board of directors, said: “CellSavers has built a stable business based on an existing need in the real world, and created strong foundations for a national consumer brand in the US.”

Sequoia Capital general partner Gili Raanan said, “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.”

The company will use the capital raised to further accelerate the growth of its platform and services. CellSavers’ service comes at a time when the world  is increasingly becoming dependent on mobile devices for call and internet functions. According to the Australian Communications and Media Authority (ACMA), nearly a third of all Australian adults do not have a fixed landline and are mobile-only phone users.