AUSTIN, Texas--(BUSINESS WIRE)--Spruce, the leading provider of lifestyle services to the multifamily sector, today announced notable business performance and growth over the first eight months of 2021, including 400% year-over-year revenue growth and expansion into 15 markets across the United States.
Through partnerships and the acquisition of proptech startup The Minte, Spruce is now the nation’s largest apartment amenity provider, serving over 450,000 apartment homes.
“We’ve seen a whirlwind of activity since the end of 2020,” said Spruce founder and CEO Ben Johnson. “As we continue to scale, we’re staying focused on building a lasting business that we can be proud of. I’m extremely thankful to everyone at Spruce, as well as our partners and customers, for their ongoing trust and commitment.”
Revenue and Team Growth
- Increased annual revenue by 400% year-over-year.
- In anticipation of future growth, more than doubled the number of employees since the end of 2020, from 45 to 109.
- Promoted Jason Cunningham to Chief Growth Officer and hired Zaharo Tsekouras as Chief of Staff.
Customers and Strategic Partnerships
- Announced a strategic partnership with Lincoln Property Company, one of the largest and most diversified real estate companies in the United States, to bring Spruce’s full suite of home services to Lincoln communities. Lincoln Property Company has since expanded its partnership with Spruce, adding over 100 communities in Chicago, Texas, Florida, and Nashville, Tenn.
- Expanded its national partnership with American Landmark to include over 80 communities in Texas, North Carolina, Florida, and Nashville, Tenn.
- Introduced services to Grand Peaks communities with over 7,000 units nationwide, including Colorado, Texas, North Carolina, and Florida.
- Partnered with Sync Residential, a Houston-based owner/manager operating Class A communities in Texas and Georgia.
- Entered into a national partnership with Sherman Residential for its portfolio of communities located in Dallas, San Antonio, Nashville, Tenn., and Charlotte, N.C.
- Added amenities to Olympus Property’s portfolio of nearly 10,000 units nationally.
- Became a national preferred partner with Denver-based Cardinal Group Management.
- Announced a partnership with Portico Management Services for communities in Austin, Dallas, Houston, and San Antonio.
- Expanded its offerings with The Morgan Group to serve nearly 13,000 units nationwide.
- Became an added amenity for over 12,000 units in Austin, Dallas, and Houston for CAF Management.
- Added more than 32,000 units across multiple markets to its national preferred partnership with RPM Living.
- Partnered with Livly, a leading enterprise-grade resident experience platform, to further enhance Spruce’s best-in-class software and services offering to the multifamily industry.
Acquisitions and Market Expansion
- Acquired housekeeping startup The Minte.
- Expanded on-demand lifestyle services to Chicago and Washington, DC markets.
- Currently serving more than 450,000 apartment homes in 15 markets as the nation’s largest tech-enabled apartment amenity provider.
To learn more about Spruce, visit getspruce.com.
About Spruce
Spruce is the comprehensive provider of lifestyle services to the multifamily industry. The proptech company currently offers Chores, Housekeeping, Pet Care, Laundry and Dry Cleaning services to over 1,500 select apartment communities throughout the country. Through the Spruce app, residents are able to quickly book services from certified, insured, and background-checked professionals. Spruce is focused on delivering the highest-quality services to residents on-demand. Venture-backed and headquartered in Austin, the company has more than 100 employees and is growing rapidly. Follow us on Twitter and LinkedIn.
