New York City-based on-demand home and office painting service Paintzen has raised $7.2 million in Series A funding. Bullpen Capital led the round with participation from other investors that included Data Point Capital, Angelpad, NextView Ventures and Lerer Hippeau Ventures. In addition to the funding, Scott Savitz, founder and managing partner of Data Point, has been added to Paintzen’s board of directors.
NEW YORK (September 28, 2015) – Paintzen, the on-demand home and office painting service, today announced closing a $7.2 million Series A funding round led by Bullpen Capital with participation from Data Point Capital, Angelpad, NextView Ventures, Lerer Hippeau Ventures and additional partners. As part of their investment into Paintzen, Data Point Capital’s Founder and Managing Partner, Scott Savitz will be joining Paintzen’s board of directors.
Paintzen is the easiest way to paint your home or office, bringing simplicity, automation and service guarantees to the $40 billion U.S. painting industry. Home owners and office managers are juggling multiple duties and don’t have the time or resources to find reliable and high-quality painting. Paintzen manages the entire process online, from paint selection and quotes to booking and payment. All of Paintzen’s paint companies have insurance and are background checked, and the company has a full team of project managers at the ready to guarantee job completion and satisfaction.
“In my almost 10 years of developing online service companies, I’ve never seen as much excitement and demand as we’ve seen with Paintzen,” said Mike Russell, Co-founder and CEO of Paintzen. “Paint is such a personal aspect of a home or office. It reflects personality and culture, and speaks in a significant way about who you are and what you stand for. Paintzen brings all the efficiency and expertise you expect from online services to this stagnant industry, and we’re excited to plan our partnership and geographic expansion beyond San Francisco and New York with this latest investment round.”
Paintzen was cofounded by Mike Russell, Justin Geller and James Goldman, who initially founded MyClean. Similar to MyClean, they set out to disrupt a large and fragmented industry, which suffers from a reputation, efficiency and organizational standpoint for both service providers and customers.
Paintzen’s service handles all aspects of every painting job down to the smallest detail; including paint, supplies, insurance, tax, and tip. Paintzen prides itself on clear and easy pricing, delivering everything right to the customer’s doorstep in a convenient and comprehensive package.
“Paintzen’s rapid growth is the result of their unique ability to design and deliver services to end customers with a high degree of personalized service and quality. This new capital combined with their continued success in partnering within the industry, will further accelerate their business.” says Paul Martino, Bullpen’s Managing Director.
“Our firm focuses on identifying and investing in leaders who can leverage and scale on the web. Paintzen has developed the entire value chain for paint services, delivering efficiency and quality to thousands in major metros like New York and San Francisco. It’s a perfect example of a business that is leveraging Internet scale and economies to disrupt traditional business models,” adds Data Point Capital’s Scott Savitz. “We are excited to work with Mike and his executive team to accelerate their growth nationally.”
For more information on Paintzen, visit www.paintzen.com.
Paintzen, Inc. is a New York City based tech company that transforms the way people paint their homes and offices. Launched in late 2013, Paintzen is the only company that can provide a truly seamless painting experience from start to finish by providing instant online quotes, fully-insured paint crews, delivery of paint and supplies and guaranteed customer satisfaction. Services are currently available in the NY Metro area and San Francisco, CA. For more information, please visit www.Paintzen.com
About Bullpen Capital
Bullpen Capital is an early-stage venture capital firm comprised of former founders, CEOs, and operational executives who have started and/or led 15 technology companies over the last twenty years, including 3 IPOs over a billion dollars. Bullpen specializes in partnering with early-stage companies that have achieved product-market fit but still need time before taking on a very large investment — here, Bullpen catalyzes a smaller priced round, works with the company for about a year, and helps prepare the company for a big inflection point. Our portfolio reflects this belief and strategy. Bullpen was co-founded by Paul Martino (CEO and founder of Aggregate Knowledge), Duncan Davidson (Founder of Covad, Managing Director at VantagePoint), and Rich Melmon (co-founder of Electronic Arts).
About Data Point Capital
Data Point Capital focuses on companies that can be leveraged and scaled on the Internet and touch the consumer. Categories of interest include mobile, gaming, social networks, payments, comparison-shopping, e-commerce and emerging technologies. Our opportunistic approach allows us to invest in companies that are at key inflection points in their lifecycles. The firm is made up of business executives and Internet leaders who have created tremendous value through building a number of very successful companies (in many cases, again and again). At Data Point Capital, we like to think of ourselves as entrepreneurs helping entrepreneurs and that by investing with independent thinking based on real, differentiating innovation and complimentary key metrics, superior results can be achieved. For more information please visit the Data Point Capital website at www.datapointcapital.com