AdHawk Raises $13M to Expand Its Flooring SaaS Offerings
New York - AdHawk, a company that helps small and medium-sized businesses expand their digital marketing presence, announced a $13 million round of new funding. The Series B financing was led by Entrée Capital with participation from Table Management, Accomplice, and others. To date, AdHawk has raised $17.7 million.
This fundraising effort comes on the heels of AdHawk’s acquisition of FloorForce, the largest digital marketing and website platform for the floor covering industry. The acquisition, which was announced in January, was part of AdHawk’s larger effort to expand its presence in the $66 billion flooring space. Todd Sauders, CEO and co-founder of AdHawk, called this fundraising round a demonstration of their commitment to floor covering and other home service categories.
“In the past year, our team has grown from a 30-person company to a 100-person company, all while remaining extremely capital efficient,” Saunders said. “We’ve seen significant growth in tandem with our recent acquisition of FloorForce, and this latest round of funding will enable us to continue to invest heavily in the flooring and home services sectors.”
Floor covering is a multi-billion-dollar industry that is underserved by technology, Saunders pointed out. By allocating AdHawk’s resources to this industry, they are helping thousands of small business owners compete with heavy hitters like Home Depot, Lowe’s, and Lumber Liquidators. “It’s a game-changer for local businesses trying to win against the big-box stores,” Saunders said.
In addition to leveraging the digital marketing services AdHawk and FloorForce already provide, the company recently launched FlooringStores.com, a directory site that connects consumers who are shopping for flooring with specialty retailers in their geographic area. FlooringStores is currently live in Florida and will be rolling out across the country in the coming months.
Avi Eyal, Entrée Capital’s managing partner, expressed enthusiasm in AdHawk’s decision to delve into the floor covering industry.
“There’s a massive divide between consumers, the flooring retailers that service them and the entire industry supply chain. AdHawk is closing that gap for thousands of retailers across the country,” Eyal said. “The company has seen explosive growth to date. We’re excited, and fortunate, to be able to join and support the company on its journey ahead.”
For more information, visit www.tryadhawk.com.