This is the UtilizeCore pitch deck to raise a $5.3m seed round in 2021.
About
UtilizeCore is a B2B network-based SaaS platform automating the service supply chain by enabling SaaS subscribers to procure subcontractors and deliver quality service anywhere at any time. It provides a next-generation platform to service companies to simplify integrated property and subcontractor management.
Founded in 2020, UtilizeCore is headquartered in New York, United States.
UtilizeCore, a tech platform that helps property managers and landlords manage services like plumbers and janitors, announced today that it raised a $5.3 million venture round. The round was led by Boldstart Ventures and included participation from S12F, Mantis VC and some strategic investors.
This is the first outside funding raised by the company, which first launched under a different name in 2016 before launching its current platform in March 2020. The company did not disclose its valuation.
The company sells software to service management companies, the brokers that sit between property managers and landlords and the myriad of different contractors from electricians to snow-removal companies that they need to maintain their properties.
Ryan Gottfried, CEO and co-founder of UtilizeCore, described the old-school process of hiring such a contractor.
Service management companies typically take a request from a property through a phone call, and then flip through their Rolodex of subcontractors, calling around to find a provider who can accept the work order.
“Service management companies traditionally operate like a call centre,” Gottfried said.
This decidedly low-tech operation is typically tracked across Excel spreadsheets, phone calls, and even fax machines, according to Jason Kwait, co-founder and president. Unsurprisingly, Kwait said, this led to missing and siloed data, projects being entered more than once, and delayed payment timelines.
UtilizeCore digitizes the whole process. If a landlord needs an office building parking lot ploughed after a snowstorm, it’s able to input its request directly into UtilizeCore’s app. The request flows through the service manager and then goes directly to the snowplough company. The landlord can then track the request as it happens on the app, even tracking the location of the plough as it goes out for the job, and then the subcontractor can mark the job complete. The app then helps to manage billing and payment, automating as much of the process as possible.
The company started out by making tech tools for one of the largest snow-removal companies in the world, Gottfried said, before realizing that landlords and property managers wanted more control of and transparency for the convoluted and dated service management process that they use to hire snow removers in the first place.
As a result, they decided to build software tools for the service management companies instead in order to give them an advantage when working with landlords and property managers. UtilizeCore operates a typical software-as-a-service (SaaS) revenue model, charging these companies for access to its platform.
Both the actual landlords and any of their subcontractors can use the platform for free. They have the opportunity to browse different service providers, whereas before they would have to rely on their own service manager’s contact list.
“We’ve taken a similar approach to what LinkedIn did to individuals,” Gottfried said. “We built a profile for all contractors and service providers that lays out their trades, the services that they perform, how long they’ve been in business, and other important information.”
For the service providers — the snow removal companies, plumbers, janitors, etc. — the draw is simpler. When service management companies switch over to UtilizeCore, they usually mandate that all of the service providers follow them. These service providers, which can be quite low-tech, are then able to manage their entire workflow through the mobile app.
The company expects its service management clients to stick around for a long time.
“Once they’re on it, we manage their whole business,” Kwait said. “We’re hard to rip and replace because we capture every single interaction.”
Some of its customers and clients saw major increases in demand because of the pandemic, especially janitors who had to keep spaces cleaner than ever before.
Funding Rounds
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Announced Date
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Transaction Name | Number of Investors | Money Raised | Lead Investors |
| Jun 15, 2021 | Seed Round – UtilizeCore | 3 | $5.3M |
Boldstart Ventures
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