On January 24, O2O home service platform company, Life Labs (CEO Yeon Hyun-joo), announced that it has successfully attracted $2.3 million investment from YellowDog and K-Cube Ventures.
With this investment, Life Labs closed their Series A round. It has been eight months since the company received seed investment from K-Cube Ventures in April last year. Cleaning Lab, which is developed and operated by Life Labs is a mobile-based home cleaning brokerage service. When a customer requests location and time on the Cleaning Lab app, a professionally trained manager visits the customer. Since its launch in January last year, the service has been operating mainly in Seoul and Gyeonggi Seongnam, and has recorded a repurchase rate of more than 80%.
This year, Cleaning Lab will expand its service coverage to all metropolitan areas and major cities. The company also plans to start expanding into various areas that require home care, such as children, pets, and senior care later this year.
Yeon Hyeon-joo, CEO of Life Labs, said, “Life Labs is very active in investing not only in serving customers but also in managing the managers who go out to the field after receiving our professional education.” She continued, “We will also contribute to creating more social value beyond the service itself by training married women on career breaks and middle-aged women with fewer opportunities for economic activities as professionals and providing them with good jobs.”
“We expect to improve the quality of services and jobs at the same time by providing a platform that helps the housekeeping services market satisfy the needs of consumers and suppliers efficiently,” said YellowDog.
Chung Shina, Partner of K-Cube Ventures, also said that “More home cleaning services are being created as the number of working mothers and single households that try to concentrate on housekeeping has grown,” and continued, “We hope that Life Labs will grow into a comprehensive home service platform company that is trusted by the public with its own ways of service operations and excellent human resource management.”
(Top photo from Baidu Images.)
This article, entitled “O2O home platform Life Labs attracts USD 2.3 M from YellowDog and K-Cube Ventures”, was written in Korean by Margot Jung of Platum, translated by Flitto, edited by AllTechAsia.