Servify provides brand-approved post-purchase assistance, allowing customers to add devices, store bills, and get genuine, brand-authorized service during or after warranty. The platform covers smartphones, tablets, laptops and household appliances. The company is reported to be valued at approximately Rs 7,074 crore (about $852 million) after the latest allocation. For the fiscal year ended March 2023 Servify reported revenue of Rs 611 crore, a greater than 95% year‑over‑year increase, and net losses of Rs 229 crore. The Mumbai-based company has raised roughly $125 million to date, including a $65 million Series D tranche led by Singularity Growth Opportunity Fund in 2022. Prior external investors include Iron Pillor, Beenext, and Blume Ventures. Servify provides a platform that manages the lifecycle of electronic devices for manufacturers, offering whitelabeled after-sales services such as damage protection, extended warranties, trade-ins, upgrades and financing. It works with over 75 device manufacturers including Apple, Samsung, OnePlus and Xiaomi, and its platform covers smartphones, tablets, laptops and wearables. The company is operational in more than 40 countries, with India accounting for 60% of its business, and employs more than 700 people globally. Servify is on track for an annual revenue run rate of over $130 million and said it aims to become profitable as early as next month. The startup plans to expand into Latin America this financial year and is exploring a debut in Japan, and intends to extend its coverage to home appliances and electric vehicles. It also plans to use new funding for acquisitions and has bought startups since its last round, including 247Around and Germany-based WebToGo. Servify operates a white-label device lifecycle management platform that handles after-sales services such as device protection, exchange and trade-in programs for enterprises. It works with more than 50 brands and reaches over 50 markets, partnering with customers including Apple, Samsung, OnePlus, Xiaomi, Nokia, Motorola and Airtel. With Apple it operates in three geographies and with OnePlus in over half a dozen markets. The company plans to expand its expertise into new product categories and deepen its international reach. Financially, Servify was profitable in the financial year that ended in March; its business halted during April–May lockdowns but fully recovered thereafter. The startup says it has more than quadrupled revenue in 2020 to date and did not lay off staff or cut salaries during the pandemic. Servify is a tech platform built to improve service experience across product categories, starting with electronic devices. It provides a set of software and technology solutions that help device brands, retailers, distributors, insurers and carriers deliver improved post-purchase customer experiences. Led by founder and CEO Sreevathsa Prabhakar, the company works with partners including Amazon, Apple, Huawei, Motorola/Lenovo, Nokia, OnePlus, Xiaomi and Reliance Jio, among others. Servify has built a nearly profitable business in India, has recently launched operations in the U.S., and is setting up operations in Europe. The company is using new funding to add senior managers and build new technology solutions for its clients. Servify builds a device ownership platform that connects consumers with OEMs, retailers, carriers and service providers to manage post-purchase experiences for mobiles, gadgets, electronics and home appliances. The platform integrates with brands, resellers and the service ecosystem through deeper integrations to enable seamless after-sales service. Servify reports it has doubled its user base recently and now manages over half a million devices on its platform. The company plans to deploy the new funding to enhance its product, service and technology offerings and to grow its product, engineering and business teams. Servify is also building a centralized service and repair facility in Mumbai, which has received authorizations from multiple brands and was expected to go live in early December. The company was started in late 2015 and is headquartered in Mumbai.

Total raised

$119M

Funding rounds

7

Latest round

Series D

Latest activity

Sep 2024