Vietnam’s ‘Uber for maids’ Jupviec.vn bags funding from Cyberagent Ventures

Jupviec.vn, a Vietnam-based household service startup, has snapped up a six-digit seed funding from Cyberagent Ventures, marking the first investment by an overseas venture capital firm in this category.

Jupviec.vn, considered as the “Uber for maids” in Vietnam, currently serves more than 10,000 customers in Hanoi through its network of around 500 housemaids. With the investment, it hopes to bring the services to Ho Chi Minh City and other cities in Vietnam in 2016.

Founded in late 2012, the company has since enjoyed 5x year-on-year growth, according to its CEO Phan Hong Minh.

“Several other startups have also rolled out the same model, but I would say Jupviec.vn is the most professional and dedicated team,” Dzung Nguyen, head of Cyberagent Ventures’ Vietnam and Thailand ops, told DEALSTREETASIA.

“In addition, Jupviec.vn is also the largest player in this area,” he added.

Minh, the CEO and founder, has both business and tech background through his 12-year profound experience working for LG Electronics Vietnam, AVG and jewelry retailer Diamond World.

Cyberagent Ventures will probably co-invest in a future series A round for Jupviec.vn, Nguyen said.

The startup aims to minimise service fees as well as create more jobs in the country.

To secure the quality of the service, the company has put into practice a centre for training the maids, under the Research Centre for Gender, Family and Community Development.

“Jupviec.vn is a promising startup in the on-demand maid service field, helping create jobs and also meeting the huge demand of local families. I hope Jupviec.vn will grow exponentially not only in Vietnam but also in other Southeast Asian countries,” Nguyen said.

As the venture arm of Japan’s internet group Cyberagent Inc, the VC firm has funded nearly 20 startups in Vietnam, such as VNG Corp, Foody Corp, Tiki.vn, Nhaccuatui and Vexere, among others.

Also Read:

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Vietnam’s food service startup Foody raises Series B funding from Singapore’s Garena

Vietnam 2015: 20 investments with angel-to-Series A bias & first-time VCs dot deal landscape

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.