The #1 consumer research site for home warranties
The #1 consumer research site for home warranties
Updated: February 15, 2019
Fixd Repair, the Dallas startup is known for using technology to disrupt the home warranty and repair business. It has been acquired by ANGI Homeservices which is the parent company of Angie’s List, HomeAdvisros and 8 other companies.
Though no financial details have been released, this is said to be part of a $25 million investment by ANGI. This includes previous acquisitions, investments, and marketing budgets.
ANGI Homeservices is based out of Denver but has not disclosed the intricacies of the deal or the price. In terms of ANGI Homeservices’ annual revenue, it exceeds $1.4 billion and Fixd will remain in Dallas without leadership changes.
Unlike most home warranty companies, Fixd is an example of a startup that uses technology to lower costs, cater to customer’s needs and improve efficiency. It’s a company where they are there to ensure that all your home issues are taken care of. Currently, they operate in Dallas-Fort Worth, Houston, Austin and San Antonio and in time will expand to Atlanta, Phoenix, and Las Vegas by the year-end.
There has been a new trend and different expectations for home repairs. This could be based on how new apps that deliver food, hail a ride and book a doctor’s appointment are becoming popular among the millennials which are becoming first-time homeowners.
Using the Fixd app, customers can file home warranty claims or schedule appointments and this would simplify the process of home repairs. These repairs have a flat rate and all technicians would go through a background check. Just like an Uber or Lyft ride, the customer would then review the service in the app.
The idea behind Fixd arose when Bohannan and Myers worked at Irving-based JB & Associates which is a business run by Bohannan’s family. This business sells extended warranties on heating, ventilation and air conditioning systems and plumbing equipment. In time, they expanded the business by growing its sales network and improved customer experience through online claims submission. But he made a point to evenly split the revenue evenly and now the company has nearly 75 employees which include technicians that handle 80 percent of the repairs.
Real estate agents sell the majority of Fixd’s home warranties when they include them as a part of the home sale. Nearly half of its repairs are from warranty claims. With its repair business, Fixd has another revenue stream and this does not rely on denying claims or hiring unprofessional contractors to increase their margins. Also, the company uses technology-enabled solutions to automate scheduling, reduce back-office work and reorder parts.
Talking about this development, Brandon Ridenour, CEO of ANGI HomeServices said that the company was looking for innovative startups that are keeping up with the changing way that people look after their homes. They acquired Handy Technologies in October which allows customers to request a handyman or maid for a fixed price through their app or website. Fixd made a great fit as they had attractive business values and commitment to address homeowner problems.
Using the Fixd app, homeowners can get qualified professionals for repairs and installation and this is would provide you with access to professionals ranging from swimming pools, electrical, air conditioning and plumbing issues.
Angie’s List services more than 6 million households all across America. They help create a list of service providers and collect reviews and ratings for more than 720 services by customers to help those that are looking to find trustworthy and high-performance companies. Members submit more than 60,000 reviews per month about the companies that they engage with. This includes a detailed analysis of the project, costs, professionalism, response time and the quality of work which is rated on an A to F scale.
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