Residential sale-leaseback platform EasyKnock continues to gobble up proptech startups. Home maintenance company Onder is EasyKnock’s latest acquisition, according to GeekWire, which first reported the story.
The terms of the acquisition were not disclosed.
Founded in 2021, Onder sells a subscription-based home maintenance service that deploys technicians to help with both interior and exterior property maintenance. Customers can request help for HVAC cleaning, plumbing, painting, power washing, gutter cleaning, and roof repair, and it covers more than 100 homes.
Onder raised an undisclosed amount of venture capital including a pre-seed round led by Rackhouse Ventures in 2021, but in late 2022, as the housing market slowed and economic uncertainty rose, the flow of venture capital funds slowed.
“The venture capital environment continued to be a headwind and we had been operating with very little margin for error,” David Krieger, the CEO and co-founder of Onder, told GeekWire in an email. “[S]o when we evaluated the landscape with our advisors, it just made sense to include mergers and acquisitions as an attractive path forward.”
Krieger said customers will not experience an interruption in their service due to the acquisition.
Through the acquisition, Onder’s services will be offered to EasyKnock’s customers. In a statement, EasyKnock said the acquisition is part of its larger goal of creating the “first nationwide property maintenance platform for homeowners.”
Kreiger and Onder’s employees (numbering fewer than 10) will join EasyKnock, and Kreiger will serve as EasyKnock’s chief product strategy officer.
EasyKnock received $57 million in venture capital last year. Investors included Blumberg Capital, Gaingels, Moderne Ventures, QED Investors, Viola FinTech, and Zillow founder, Spencer Rascoff’s venture firm 75 & Sunny.
In May, EasyKnock acquired struggling power buyer firm Ribbon for an undisclosed amount.