RALEIGH – Exhale Home, LLC, a Raleigh-based startup that provides home maintenance and management services through a membership subscription, has raised a bit more than $1.9 million from 23 investors, according to an SEC filing.
Company founder and CEO Matthew Sheehan told WRAL TechWire last year that there were hundreds of potential members in the Triangle, where Sheehan launched the company, describing the concept as akin to fractional shares of a professional property manager for primary residences at the time of the conversation.
“I want to serve really great people, who value their time, because they have great gifts to give to the world,” said Sheehan. “They’re frustrated because on Saturday mornings, or Thursday afternoons, because they are waiting for someone to come and do something for them in their homes.”
Sheehan launched the company after experiencing despair coming home from a networking event to a broken faucet in his home, which caused a significant disruption for a day and a half and cost more than $200 to resolve, for a resolution that, when completed by a professional, took about four minutes. Sheehan would launch the company with the goal of preventing that despair and frustration, then developed a pilot program in 2021 that quickly expanded beyond a dozen customers, which he told WRAL TechWire in August 2021 was supported by six employees of the company with plans to bring on additional staff as the company added customers.
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The funding of $1,902,500 came from 23 investors, according to the filing, which was signed by Sheehan on Dec. 22. The minimum accepted investment was $15,000, according to the filing, and the funding came in the form of options, warrants, or other rights to acquire security.
According to the company’s website, the company’s members receive a dedicated manager, a customized home maintenance plan, access to “on demand” services for repairs or remodels, and 24/7 emergency availability.
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