What's Happening?
Pest Share, a Boise-based startup, has raised $28 million in Series A funding led by Integrity Growth Partners. The company, founded by Landon Cooley and brothers Justin and Tom Clements, offers on-demand pest control services to property managers across 48 U.S. states. Pest Share aims to leverage volume to make pest control more affordable for residential complexes. The platform is likened to services like Uber and DoorDash, providing a streamlined approach to pest management. The funding will support Pest Share's mission to improve service response times, standardize workflows, and deliver cost savings while enhancing the residential experience.
Why It's Important?
The investment in Pest Share highlights the growing demand for innovative solutions in the pest control industry, which is often overlooked by traditional Silicon Valley investors. With 84% of U.S. households experiencing pest issues annually, Pest Share's model addresses a significant pain point for property managers and residents. The company's approach not only offers financial benefits but also improves tenant satisfaction, potentially reducing turnover rates. The funding will enable Pest Share to expand its reach and refine its technology, positioning it as a leader in the pest control sector.
What's Next?
Pest Share plans to use the Series A funding to accelerate its expansion across the rental market, supported by local investments from Capital Eleven, MetaProp, and RE Angels. The company aims to integrate its services with existing property management technologies, demonstrating a positive financial impact. As Pest Share continues to grow, it may attract further investment and partnerships, solidifying its position in the industry. The startup's success could inspire other companies to explore tech-driven solutions in home services, potentially leading to broader innovation in the sector.
Beyond the Headlines
Pest Share's founders emphasize the importance of integrity and shared values in their business model, which has been crucial in attracting investors. Their commitment to professionalism and hard work, combined with their personal values, has driven the company's success. This approach not only benefits Pest Share but also sets a precedent for ethical business practices in the industry. As the company expands, it may influence other startups to prioritize transparency and integrity in their operations.
