Spruce Raises $8M in Series A Funding

Overview of Spruce services and markets.

Spruce, an Austin, Texas-based provider of lifestyle services to the multifamily industry, announced $8m in Series A financing.

The round was led by Mercury Fund with participation from Sweat Equity Partners. In conjunction with the funding, Andrew White, President of Sweat Equity Partners, will join Spruce’s board of directors along with Steven Pho, a seasoned marketplace executive with successful exits at Favor and RetailMeNot.

The company intends to use the funds to expand its offerings to more residents and properties as well as continue the national roll-out.

Led by founder and CEO Ben Johnson, Spruce provides the the multifamily industry with Housekeeping, Chores, Pet Care, Laundry and Dry Cleaning services. It currently serves more than 750 apartment communities across the US. Through the app, residents can book services from certified, insured and background-checked professionals. The company has more than 40 employees.



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