Device management platform Servify buys 247around

Device management platform Servify on February 22 said it has acquired multi-brand appliance care platform 247around to strengthen its service fulfilment network beyond smart products.

The acquisition brings 247around’s existing 150+ partner brands under Servify’s fold along with a service network across more than 19,000 PIN codes of India. It will also help expand to new product categories, the company said in a statement. Terms of the acquisition were not disclosed.

"With 247around, we’ve not only onboarded a great team that is aligned to our vision completely, but also a technology and fulfilment platform that will help us scale the home appliances and electronics category," Servify founder Sreevathsa Prabhakar said.

Founded in 2015 by Nitin Malhotra and Anuj Aggarwal, 247around specialises in at-home service of home appliances, consumer electronics and white goods. After this acquisition, 247around will operate as a group company of Servify.

"This acquisition will enable 247around to scale further with Servify and participate in the $100+ billion post-sale appliance lifecycle market globally," Malhotra said.

Servify works with several global original equipment manufacturers (OEMs) such as Apple, Samsung, OnePlus and Xiaomi to run their after-sales product care programmes including providing extended warranty coverage. It also powers the smart exchange/upgrade programmes for such brands.

The company says it has presence across multiple markets such as the United States, Canada, European Union, United Kingdom, Turkey, Russia, United Arab Emirates, and Saudi Arabia among others. It claims to have partnerships with over 50 OEM brands and thousands of their ecosystem partners.

The Mumbai-based startup counts Iron Pillar, Blume Ventures, Beenext, and Trifecta Capital among its investors. The firm claims that its platform processes more than 3 million transactions on a monthly basis, with over 250,000 platform users spread across retailers, service centres, contact centres and administration teams across the world.

In April last year, Servify had acquired key businesses of Germany-based WebToGo, a provider for multichannel self-care and customer experience solutions for smartphones, tablets and laptops. Following this deal, the company had added two of WebToGo's solutions to its portfolio: a mobile device diagnostics suite 'myhandycheck' and 'wenewa', a solution that can remotely identify, diagnose and triage connected devices.