A fund affiliated with the Singaporean government has a great interest in making sure that American consumers are getting the tech support they need.
Temasek, the multi-billion-dollar investment fund associated with the government in Singapore, has led a $50 million round for Puls Technologies, Inc., a San Francisco-based company aiming to be the tech support for American homes and offices.
Current investors Sequoia Capital, Red Dot Capital Partners, Samsung NEXT and Viola Ventures all participated in the new financing, alongside additional new investors Hanaco Ventures and Hamilton Lane.
Founded only three years ago, Puls pitches a service that can match consumers with the appropriate technician in a little over an hour, any day of the week.
The company has built a network of 2,500 technicians in the top 50 cities in the United States, and will provide same-day installation and repair of over 200 products.
Some things the company’s technicians can service include smartphones, televisions, antennas, garage door openers and smart home devices like voice-activated speakers, video doorbells, keyless locks, AI cameras, thermostats and security systems.
It’s the full circle of consumer electronics crap.
“As consumers depend on electronic devices for every aspect of daily life, the world needs a new service model,” said Eyal Ronen, Puls co-founder and CEO, in a statement. “No one should have to drive across town and stand in line to speak to an expert, or wait hours at home for a local repair van to show up.”
With the new funding, the company said it’s poised to take a large chunk of the $50 billion in home automation services around the world. By the end of 2018, the company predicts there will be 11 billion connected devices globally (although that statistic likely includes connected equipment in factories and other technologies related to the Internet of Things that may not have a place in the home).
The company’s projections are also based on a forecast that predicts an average household will have 50 connected devices (to which I can only say… bless their hearts).
“We’re delighted to have Temasek leading this round,” said Ronen in a statement. “As investors in global online leaders, Temasek brings incredible expertise to our board. It’s a huge vote of confidence in our vision, team and execution, as we accelerate our direct-to-consumer business and expand strategic partnerships with big name retailers, insurance companies, and hardware OEMs.”
Puls raised a $25 million round last year as it completed its rebrand from the cell phone servicing business it had been running under the CellSavers brand.