Super, a leading provider of subscription care for the home, announces that it has acquired assets of the US home warranty businesses of Nations Home Warranty, American Home Guardian, and TotalHome Warranty. This marks its second wave of acquisitions in the home warranty space, following the purchase of Platinum Home Warranty in 2022.
The acquisition expands Super’s footprint from 8 states to 35 states, furthering the company’s mission to reinvent the home warranty business by leveraging technology to make home ownership as carefree as renting.
“Acquiring these home warranty businesses marks an important milestone for Super as we continue to build a comprehensive platform for homeowners,” said Jorey Ramer, CEO of Super. “We’re excited to expand our capabilities and resources across 35 states, and we look forward to providing homeowners with an exceptional experience.”
The home warranty industry is highly fragmented today, consisting of numerous small and traditional players that lack access to technology and capital but control well over $1B in annual recurring revenue. Super aims to bring positive change for homeowners and the industry by leveraging its robust technology platform, including AI and machine learning capabilities, to improve unit economics and delight customers. One example of this is Super’s contractor and cost vetting, leveraging big data and machine learning to provide better quality services to homeowners while ensuring that customers don’t overpay for services.
One of the key features that sets Super apart is its focus on creating an “own like a renter” approach for homeowners. Unlike traditional providers, Super offers a comprehensive solution that goes beyond insuring break-downs. With Super’s powerful technology platform, homeowners can easily coordinate repairs, schedule appointments, and track the progress of their repairs—all through a simple and intuitive app. This end-to-end coordination ensures that homeowners no longer have to bear the burden of managing repairs themselves, saving them time, effort, and stress. By investing in technology and consolidation, Super is able to deliver superior economics while enhancing service quality, and providing a streamlined, worry-free experience for homeowners.
In addition to streamlining the repair process, Super is also testing Internet of Things (IoT) solutions that prioritize maximum uptime for homes. By harnessing the capabilities of IoT, Super aims to detect and address problems before they occur, ensuring a hassle-free home ownership experience. This proactive approach not only prevents potential issues from escalating but also minimizes disruption to homeowners’ lives. With Super’s focus on preventive maintenance, homeowners can enjoy peace of mind knowing that their homes are continuously monitored and optimized for their comfort and convenience.
Commenting on the acquisition, Nilanshu Raja, CFO of Super Home Inc, said, “We are excited to add these businesses to our portfolio and expand our reach even further. The home warranty industry is poised for consolidation, and Super, with its investment in people, products, and processes, combined with the current macro climate and superior unit economics and LTV, is ideally positioned to capitalize on this trend.”
The first tranche of the transaction closed on May 31st with the remainder on track to close in coming months.
About Super
Super was founded in 2015 with the mission to make caring for a home completely carefree. Powered by a proprietary data platform and backed by leading investors, Super offers subscription-based care for your home, including home warranties and home maintenance. We leverage data and technology to deliver high-quality, fast, and worry-free home repair and maintenance. Learn more at hellosuper.com.
Source: https://hellosuper.com/news/super-expands-to-35-states