Handy is a very well-known and unique company that specializes in home cleaning. www.INC.com magazine did an article about the cofounders of Handy. Handy is a company that went through a painful path in order to reach profitability. Handy is a company that was founded in 2012 by Umang Dua and Oisin Hanrahan. Handy was founded when the financial crisis was beginning to fade. One of the main problems that Handy had was that they were up against rival companies like HomeJoy. Handy had to be able to outspend these companies, and that was something that was a challenge for them to do.
Hiring people in person was costing the company millions of dollars, so the founders decided that they were going to try an online on-boarding strategy. Unfortunately, this new way of hiring caused a hiring plummet of 40%, and thousands of bookings on Handy had to be canceled. There were huge complaints by customers, and it made for some very stressful months for the company.
Later, the company was able to raise over $110 million when he came to capital. Handy.com was able to get many high tech engineers to work out all the problems that came with the self-serve onboarding process, and at the end of the first quarter they were able to roll out a new system for their onboard hiring. Now, their onboarding initiative has become a success, and even though the company had to lay off 42 employees, Handy was able to grow in its profits. The goal of Handy now is to have humans where they could be most valuable and have machines where they can have the most value. The company now expects to flip over when it comes to profitability, and they hope to raise more capital in the next year.