Puls raises $15 million and enters the warranty space
Puls Technologies, “the leading on-demand home repair service platform,” announced a $15 million investment as they introduce an appliance warranty solution. The funding round, led by Hanaco Venture Capital, will “modernize the insurance market while enabling homeowners to access complete warranty on select appliances.”
Founded in 2015, Puls originally went by Cellsavers, offering in-home repair and installation for electronic devices and smart homes. In 2017, the company rebranded to Puls and after raising a total of $108 million it is now entering the warranty space.
Puls Protection features two plans – Standard Protection ($41.59/mo), which covers every major appliance and Essential Protection ($29.09/mo), limited to kitchen appliances. Both plans offer free repair or replacement for appliance breakdowns and members also receive 25% off all Puls service fees and services for other needs around the home. Puls also offers a plan for those that are willing to take their chances – members can pay around $10 per month and receive a 20% or 25% discount on all Puls services.
The company claims to have access to 7,000 vetted technicians and it is live in 18 major cities across the U.S.
“Home warranty programs are crucial, as 61% of Americans cannot afford an unexpected $1,000 bill. With the decline of available technicians in the market, Puls provides an end to end solution, from warranty coverage to service experience and efficiency, enabling users to solve any appliance-related issues with just the click of a button. For technicians, Puls provides a one-stop-shop that expands their network and simplifies finding, scheduling, and communicating with customers on a daily basis.” – Gabi Peles, CEO of Puls.
“We believe that customer experience is of paramount importance in the home insurance market. We are proud to enable Puls’ ability to merge the service and insurance industries for the first time. In addition, we are eager to see Puls utilize data-driven technology in order to improve customer satisfaction.” – Lior Prosor, general partner and co-founder of Hanaco Venture Capital.
