AUSTIN, Texas & CHICAGO--(BUSINESS WIRE)--Spruce, the leading provider of lifestyle services to the multifamily sector, today announced it has acquired The Minte, a startup bringing hotel-style housekeeping to luxury apartment residences.
The acquisition allows Spruce to expand its footprint into the Chicago area with premier property management companies, while The Minte gains a greater ability to scale and serve more clients. The Minte’s premier service will complement Spruce’s current set of offerings for a variety of household chores, while Spruce’s deep logistics capabilities will unlock more options for residents and provide expanded scale for local housekeeping companies servicing apartment communities.
“We’re always looking for ways to elevate our services, and the addition of The Minte is a natural fit that will enhance the experience for everyone,” said Spruce founder and CEO Ben Johnson, who earned his MBA at the University of Chicago Booth School of Business. “Local businesses can use our platform to tech-enable their operation, and residents receive convenient, expert and affordable services.”
“It has been our mission to innovate our customers' homes and lifestyles—one apartment, one customer at a time,” said The Minte CEO Joanna Gornikowski. “Joining forces with Spruce will give people a blend of service and technology that delivers exceptional experiences.”
Both Spruce and The Minte have demonstrated that a seamless execution of lifestyle services can create an integrated living experience for residents. According to an internal review of Spruce data, residents who purchase two or more services have a renewal rate of 81.4 percent. The renewal rate for residents who purchase more than 20 hotel-like services jumps to nearly 90 percent, far above the industry average of just more than 52 percent.
Spruce’s focus on delivering high-quality services on-demand has established the company as the largest apartment amenity provider in the nation. Following a recent expansion into the Washington DC area, Spruce adds Chicago as its 14th market. Collectively, Spruce and The Minte will service more than 450,000 apartment homes.
Spruce is the comprehensive provider of lifestyle services to the multifamily industry. The 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 65 employees and is growing rapidly.
About The Minte
The Minte is a Chicago-headquartered startup aiming to disrupt the status quo of housekeeping. Backed by Dundee Venture Capital, MATH Venture Partners, Revolution’s Rise of the Rest Seed Fund, Hot Glass Ventures, Firebrand Ventures, Blue Note Ventures, Sandalphon Capital, Network Ventures and M25 Group, The Minte is partnered with a number of housing partners as it expands into condos, apartments and corporate housing in the United States.
Please see a special note to customers of Spruce and The Minte: https://getspruce.com/spruce-acquires-the-minte/