Plural invests in the US home services provider PipeDreams

Plural, founded by Estonian entrepreneurs Sten Tamkivi and Taavet Hinrikus, has invested in the US-based home services provider PipeDreams. Plural and Canvas Ventures were lead investors in a €23M round A, with participation from several US business angels.

Founded in 2020 by Dan Laufer and Tyler Green, PipeDreams purchases and invests in heating, ventilation, air conditioning, and plumbing companies (HVAC) and scales them using its software to assist with scheduling and marketing. The startup extracts valuable business data and then creates reports, analytics, and real-time performance insights, that can be used by data engineers and HVAC techs to make better and faster decisions. PipeDreams has acquired nine companies and currently operates in the US cities of San Francisco Bay Area, Tucson, and Denver, focusing on residential repair and service businesses with at least $2,5M in revenue and a team of more than ten full-time technicians.

PipeDreams' solution can be a suitable option for retiring owners who want to keep their employees to continue working for the company while keeping the brand and name alive. PipeDreams has a $15M debt facility available to purchase businesses. As the acquired business grows, PipeDreams sells it to other investors. 

PipeDreams is a hiring platform for HVAC and plumbing specialists. It also supports employees by providing them with training programs that allow them to learn on the job. The startup expects to include other professions, including electricians, in the future.

PipeDreams will use the investment to further develop its software. 

Founded in 2022 and managed by Sten Tamkivi, Taavet Hinrikus, Ian Hogarth, Khaled Helioui, and Carina Namih, Plural focuses on leading early-stage rounds between €1M and €10M.