CellSavers Raises $15 Million in Series A Funding From Sequoia Capital and Carmel Ventures

End-to-end technology platform specializing in anytime, anywhere
mobile device repair will use funding to continue explosive growth and
top-rated service

SAN FRANCISCO–(BUSINESS WIRE)–CellSavers, the on-demand mobile repair platform, today announced it has
raised $15 million in Series A funding, led by Carmel Ventures, with
participation of seed investor Sequoia Capital.

The Series A capital will be used by CellSavers to further accelerate
the growth of its end-to-end technology platform, which uses proprietary
algorithms to intelligently match consumers in need of smartphone and
other mobile device repairs with qualified and skilled rapid-response
technicians, referred to as Savers, in their local area.

The funding will also enable the continued expansion of a service that
has scaled impressively since its launch in mid-2015, growing by 35%
month-over-month. This fundraising round reflects investor confidence in
the operational excellence of the company, which delivers profitable
unit economics on every repair. CellSavers’ 5-star service is already
available nationwide in major metropolitan areas including New York, Los
Angeles, San Francisco, Houston and Chicago.

CellSavers provides an outstanding customer experience by ensuring that
repairs are as quick and convenient as possible, minimizing the time
consumers are without a working device. Qualified and vetted local
Savers aim to reach customers within 60 minutes, regardless of their
location, carrying out precise guaranteed repairs.

“Eyal Ronen and Itai Hirsch are impressive, disciplined, creative
founders who have demonstrated that a strong company vision, coupled
with strict operational discipline can yield tangible results. They’ve
built a solid business based on a real-world need and created a strong
foundation for a great national consumer brand,” said Carmel Ventures
Partner Daniel Cohen, who is to join CellSavers’ board of directors.

Eyal Ronen, CEO & Co-Founder of CellSavers, said, “It was incredibly
important to us that we work with partners like Daniel Cohen who
understand how to build and scale on-demand businesses. This investment
is a big step towards a world where you can get any technical service
for any smart device you own, right at your door and within 60 minutes.”

Gili Raanan, General Partner at Sequoia Capital, said: “We are thrilled
to be business partners with Eyal, Itai and the whole CellSavers team.
We continue to be extremely impressed with the rapid, healthy and
sustained growth of CellSavers and with the positive unit economics the
company has already achieved in few major markets.”

About CellSavers

At CellSavers, we know what a headache getting a broken smartphone fixed
can be. We take the pain out of repairs by making them as quick and
convenient as possible, so people can get on with living their lives.
Our end-to-end technology platform uses proprietary algorithms to match
customers with a local, qualified and vetted technician—a Saver—who will
aim to reach them within 60 minutes and repair their device to the
highest-possible standard, anytime, anywhere. All our Savers are
extensively vetted, certified and monitored, and every repair comes with
a warranty and guaranteed safety for phone data. CellSavers is
headquartered in San Francisco, California. Our service is available in
cities across the nation and expanding fast.

Follow CellSavers at:

Contacts

CellSavers
Karen Bard Sayah, 310-415-1919
Media@cellsavers.com