Home-Service App Snabbit in Talks for $450 Million Valuation in New Funding Round

Snabbit, a technology-driven home services platform, is currently engaged in exclusive talks with multiple institutional investors to secure a new round of funding, according to sources familiar with the matter. The company’s valuation target in the negotiations stands at $450 million, reflecting a significant milestone in its growth trajectory since inception. The capital raised would support expansion into new metropolitan markets, enhancement of its AI-powered matching engine, and workforce training initiatives. The funding round underscores increasing investor confidence in digital platforms that streamline labor coordination in the gig economy. Snabbit’s model, which connects consumers with vetted, background-checked home assistants for tasks ranging from cleaning to minor repairs, has seen a 60% year-over-year increase in active users across its core U.S. markets. The company currently operates in 18 major U.S. cities and maintains a 4.8-star average rating on its app, based on over 150,000 user reviews. If finalized, the funding round would mark Snabbit’s second major equity raise, following a $120 million Series B in 2023. The current round is expected to be led by a group of growth-focused venture capital firms with a track record in consumer tech and workforce innovation. The company is also exploring strategic partnerships with home warranty providers and property management firms to deepen ecosystem integration. While the round does not impact broader market indices such as the S&P 500 or the Nasdaq, it contributes to a broader trend of venture capital inflows into niche digital labor platforms. The development may influence competitive dynamics in the home services sector, particularly against incumbent players like Handy and TaskRabbit, which have faced slower user growth in recent quarters.