South Korean home cleaning startup Miso sweeps up $8 million Series A

[NelsonG]

South Korean home cleaning service Miso wants to leave its competition in the dust after raising an $8 million Series A. Led by AddVenture, with participation from returning investors Y Combinator, FundersClub and Strong Ventures, and new backer Social Capital, the funding will be used on marketing and entering new Asian countries.

The Y Combinator alum, which was the third startup from South Korea to participate in the accelerator program, has now raised over $10.5 million in total. When TechCrunch first profiled Miso in June 2016, it was processing about 5,000 bookings a month. Now co-founder and CEO Victor Ching says the platform processes about 50,000 to 60,000 cleanings a month.

The company claims that it has processed over 750,000 bookings since it was founded in 2015 and made more than $40 million in gross merchandise value over the last three years. It has served a total of 110,000 customers and currently has 15,000 cleaners on its platform, which is accessible through mobile apps and its website.

When they launched, Miso and competitors like WaHome and Daeri Jubu represented a shift in how home cleaners work in South Korea, where demand for their services is growing thanks to the increase in dual-income households. As Ching explains to TechCrunch, cleaners previously had to pay a monthly fee to join an agency and were often required to check in at its office to wait for bookings, even though work wasn’t guaranteed. Cleaning apps give customers and cleaners more convenience and flexibility, as well as a rating system for transparency.

Ching says that when he and co-founder Haksu Lee started Miso, they assumed most cleaners would want the equivalent of full-time work, or about 30 to 40 hours a week. In reality, however, only about 30% of its providers want to work that many hours, while the rest clean on a part-time basis or to supplement their income. Full time cleaners on the platform typically earn up to about $2,000 a month (in comparison, the monthly minimum wage for full-time work in South Korea is about $1,400).

To stand out from competitors, Miso has focused on developing scale over the last two years, says Ching, who was chief product officer at food delivery startup Yogiyo before it was acquired by Delivery Hero in 2014. Ching’s experience handling food delivery logistics helped him develop Miso’s backend so that when bookings began to increase, it was able to arrange shorter commutes for cleaners. This in turn allowed the company to offer quicker bookings of about 2 to 3 hours, expanding its customer base (it initially only offered four- or eight-hour sessions). Its services also now include air conditioner and washing machine cleanings, as well as same-day bookings in some markets.

Miso’s logistics system also helps match cleaners and customers. About half of its customer base are subscribers, which mean they typically book a cleaning once a week. Most prefer to have the same person come over every week, but that means Miso needs to pair them with a cleaner who is willing to go over regularly. Miso’s platform takes into account the preferences of both customers and providers and also tries to match jobs in the same building or apartment complex with one cleaner. Ching says this is an important advantage Miso has over competitors, because its focus on convenience keeps cleaners loyal to the platform.

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[yamileiadrian]

Am I the only one who has never used a cleaning service?

[ibrahin]

I don’t use a cleaning service regularly because I can clean my house myself, and I am not really comfortable with letting other people inside.
But there are cases when a cleaning service is a must. When I was in my 20s, I had to move rather often, and it was so nice to move into an apartment that someone had thoroughly cleaned. The company I called more often than the others is https://tenancycleaning.uk. I liked them because they did their job swiftly enough and cleaned all the surfaces in the house. I also asked them to use a vapor cleaner instead of chemicals because I am allergic to them, and they did so every time.

Edited July 30, 2022 by ibrahin

[KetyElly]

It's impressive to see Miso's growth and success in the home cleaning industry. With $8 million in Series A funding and expansion into new Asian countries, they're clearly on a promising path. It's fascinating how they've transformed the way home cleaners operate in South Korea, making it more convenient for both customers and cleaners.Speaking of convenience, I'd recommend using this Window cleaning service. Their focus on convenience and quality might align well with your needs.Miso's dedication to customer preferences and efficient logistics is truly commendable. It's a great example of how technology can enhance traditional services.

Edited January 31 by KetyElly

[BkeKay]

If you haven't cleaned your house in years, it's likely that it requires a deep and thorough cleaning. This can be a daunting and overwhelming task to undertake on your own. That's where end of tenancy cleaning services can be beneficial. Cleaning services  is a professional cleaning service that specializes in deep cleaning of homes or apartments. They use specialized equipment and cleaning products to ensure that the property is cleaned to a high standard. This can include cleaning of carpets, upholstery, windows, kitchen appliances, and more.

Edited February 24, 2023 by BkeKay

[DonnaJerrily]

Here's to their continued success and making life easier for both customers and cleaners!