Spruce Acquires Housekeeping Startup The Minte, Expands Lifestyle Services to Chicago | Your Money

By Editor On Aug 11, 2021

[ad_1]

AUSTIN, Texas and CHICAGO – (BUSINESS WIRE) – Nov. August 2021–

Spruce, the leading provider of lifestyle services to the multi-family sector, today announced the acquisition of The Minte, a start-up that brings hotel-style housekeeping to luxury apartment residences.

This press release contains multimedia. View the full version here: https://www.businesswire.com/news/home/20210811005199/en/

Ben Johnson, Founder and CEO of Spruce (Photo: Business Wire)

The acquisition allows Spruce to expand its presence in the Chicago area with leading real estate management companies, while giving The Minte greater ability to scale and serve more clients. Minte’s world-class service will complement Spruce’s current offering for a wide variety of household chores, while Spruce’s extensive logistics capabilities will open up more options for residents and provide greater reach for local housekeeping companies serving shared apartments.

“We’re always looking for ways to improve our services, and adding The Minte is a natural addition that will improve the experience for everyone,” said Spruce Founder and CEO Ben Johnson, who has an MBA from the university of Chicago Booth graduated from business school. “Local businesses can use our platform to technically enable their operations, and residents receive convenient, competent and affordable services.”

“It was our mission to innovate the homes and lifestyles of our customers – one apartment, one customer at a time,” said Joanna Gornikowski, CEO of The Minte. “Joining forces with Spruce will provide people with a mix of service and technology that delivers extraordinary experiences.”

Both Spruce and The Minte have proven that seamless implementation of lifestyle services can create an integrated living experience for residents. Residents who purchase two or more services have an 81.4 percent renewal rate, according to an internal review of Spruce data. The renewal rate for residents who purchase more than 20 hotel-like services rises to almost 90 percent and is thus well above the industry average of just over 52 percent.

Spruce’s focus on providing quality on-demand services has made the company the largest provider of apartment furnishings in the country. After a recent expansion into the Washington DC area, Spruce is adding Chicago as the 14th store. Together, Spruce and The Minte will serve more than 450,000 apartment buildings.

About spruce

Spruce is the comprehensive lifestyle service provider for the multi-family industry. The company currently provides housework, housekeeping, pet care, laundry, and dry cleaning to over 1,500 select shared apartments across the country. With the Spruce app, residents can quickly book services from certified, insured and tested professionals. Spruce focuses on providing residents with the highest quality services that meet their needs. The Austin-based company, backed by ventures, employs more than 65 people and is growing rapidly.

About the mines

The Minte is a Chicago-based startup that aims to change the status quo of housekeeping. The Minte is supported 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 the M25 Group is expanding into condominiums, apartments and corporate apartments in the United States.

Please note a special note for Spruce and The Minte customers: https://getspruce.com/spruce-acquires-the-minte/

View source version on businesswire.com: https: //www.businesswire.com/news/home/20210811005199/en/

CONTACT: Treble

Lindsly Penny

fichte@treblepr.com

KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS TEXAS

INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT OTHER PROFESSIONAL SERVICES TECHNOLOGY RESIDENTIAL CONSTRUCTION & REAL ESTATE SOFTWARE CONSTRUCTION & REAL ESTATE

SOURCE: Spruce

PUB: 11/08/2021 7:00 AM / DISC: 11/08/2021 7:02 AM

http://www.businesswire.com/news/home/20210811005199/en

[ad_2]