Backed by Tiger Global Management and Lightspeed Venture Partners, LocalOye, a Mumbai-based local services provider is the first player in the hyperlocal space to launch its pan India online service category which aims at providing its users with authentic and factual advice from over 100 verified service providers. These services include astrology services, online marriage couselling, parenting consultants and many more.
LocalOye was founded by Aditya Rao and Anupam Tiulsiyan after realising that hiring local services continues to be a pain inspite of having a number of classified websites. “The e-commerce segment has enough players and is taken care of, however hiring a local service continues to be a problem and that’s where we want to help our users with,” says Aditya Rao, CEO and co-founder of LocalOye.
Launched in 2013, the startup initially raised a seed round of funding from some of the top angel investors including Sidharth Rao (co-founder Webchutney), Haresh Chawla (ex-Group CEO Network 18 and India Value Fund partner), and Sachin Bhatia (co-founder, MakeMyTrip). Followed by which it raised its series A of $5million from Tiger Global Management and Lightspeed Venture Partners.
Unlike classified websites, the company is not just a listing site but also works towards identifying the requirements of its users and finding them vendors based on budget and availability. It has 5 major categories which includes home, education,beauty and health and fitness services. “We take care of everything from finding required service providers to ensuring the quality of the service. And now the user even has an option to opt for cashless payment as we have already partnered with Paytm and Razorpay for online payment gateway integration,” adds Rao. It had already experimented with this model in cities like Bengaluru and Mumbai and the overwhelming response has prompted the startup to launch it officially across all the cites that it is present in.
The company claims that ever since it has shifted its base from Mumbai to Bengaluru they have grown from from 200 to over 2,500 customers per day. Rao says that over 35% of the users are coming from Bengaluru. Currently present across 90-plus categories in Bangalore, Mumbai, Delhi, and Gurgaon, the stratup claims that it has 4,200 registered and certified partners.
“LocalOye follows a very stringent verification process which includes a test to check the quality and credibility of the service providers, we are also working extensively towards making our recommendation engine much faster from the technology side as it is the medium which connects our customers to the merchants with proper relevancy,”
He still considers classified websites as his biggest competitors as they have been out there for a very long time now however their innovation driven model does make them stand apart in the market.