'Space Maintenance' Homeco Secures KRW 700 Million Seed Investment from Kakao Ventures and Others

"From Home Repair Requests to Construction"
Introduction of the Industry's First Standard Pricing System

Home&Co, the operator of the space maintenance service 'Homeco', announced on the 10th that it has secured a seed investment of 700 million KRW from Kakao Ventures and Xquared.

Homeco is a platform that streamlines the entire home repair process, from simple repair requests to on-site inspections and in-person construction. Experts visit the site without any call-out fees and provide quotes based on the industry's first standard pricing system. By leveraging consultation and quote data, the company is able to optimize the repair process and offer standardized repair services. Within just six months of launch, Homeco averages 100 repair requests per month, and one out of every six users returns to use the service again.

Homeco aims to go beyond simple brokerage by creating data-driven standard services, enabling anyone to easily manage their living spaces. According to Statistics Korea, one out of every four homes nationwide is over 30 years old. As homes age, essential functions such as heating, insulation, and waterproofing deteriorate, making maintenance and repairs essential. However, information related to repairs is fragmented, making it difficult for consumers to maintain comfortable living environments. Homeco has focused on addressing this issue.

Home&Co is led by CEO Ryu Jiho, who previously planned business and service operations as a product owner at Toss and proposed growth strategies for leading domestic startups at Google, and CEO Kook Hyeongju, who was responsible for IPO and M&A advisory at Goldman Sachs. With this investment, the company plans to aggressively recruit key talent, including customer experience (CX) experts and offline sales specialists, and to further enhance service quality. The company will remain focused on delivering a consistent customer experience and has plans to gradually expand from aging home repairs to building material distribution, facility and real estate management, and architectural management solutions.

Cho Hyunik, Principal at Kakao Ventures, explained the reason for the investment by saying, "If the competitiveness of the service industry ultimately depends on 'on-site execution', Home&Co is a team that excels at accurately identifying customer issues at the closest point of contact and rapidly turning them into action. We expect them to drive structural innovation in the space maintenance industry."

Kook Hyeongju and Ryu Jiho, co-CEOs of Home&Co, stated, "We aim to eliminate the long-standing inconveniences in the home repair market and establish a new standard that anyone can trust and use repeatedly. In an imperfect market, we will define the problems, experiment dozens of times, and ultimately grow a company that drives true innovation."