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Hidrent isn't accepting new investments

Hidrent’s deadline was January 30, 2021

Follow the company to stay updated on their progress, including future investment opportunities


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Hidrent

Off Duty. On Demand.
Social Impact Marketplace Local Services
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$99,698
Raised
311
Investors
Successfully funded and closed on January 30, 2021.
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Pitch Updates 18 Reviews 86
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Closed on January 30, 2021. Information may not be up-to-date. Campaign closed on January 30, 2021. Information displayed may not be up-to-date.
Problem Solution Product Traction Customers Biz. model Market Competition Vision and strategy Funding Founders
About Team Press

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Hidrent Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Hidrent Crowd SAFE Hidrent Form C:A.pdf
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Hear from some of the 311 investors in Hidrent


Show more

Highlights


Notable angel backing
Company is backed by a notable angel investor
  • Targeting the $600B Home Services Market | 49% CAGR
  • Featured on ABC (Dallas), CBS (Denver) and FOX (Austin, Houston & Phoenix)
  • 233% increase in revenue this Q2 vs Q1 coupled with the onset of COVID-19
  • 36K+ app downloads & 4K+ firefighter downloads | 1,600 completed jobs
  • Awarded "Best 20 Dallas Companies to Watch in 2020"
  • Access to 1.2M U.S. firefighters available and eager to work
  • Founder has participated in over $1B in successful startup exits

Problem


Trusting is hard. Knowing who to trust, even harder.

According to the Better Business Bureau (BBB), residential contractor fraud is the number one complaint by homeowners.

Seniors are the most at risk when it comes to fraudulent contractors and home improvement scams.  Additionally, seniors own more than half of all the financial assets in the United States, making them prime targets. 

The U.S. online on-demand home services sector is worth $600 billion, and Baby Boomers are currently driving the majority of home improvement spending.

But...who can you trust?

 

Solution


Hidrent: on-demand labor service for off-duty firefighters

You Already Trust Us... 👨‍🚒

A worldwide survey that ranks professions according to levels of public trust found firefighters were considered to be the most trustworthy at a whopping 92 percent.

On average, firefighters work ten 24-hour shifts each month, leaving them to enjoy 20 days off each month. Hidrent was built with the help of firefighters, for firefighters. We connect people in need of skilled labor with qualified off-duty firefighters in the community looking for work. From assembly to maintenance to repairs, people can trust their work to be done professionally and in a safe environment.

Product


Supporting off-duty heroes

Hidrent has created two apps to connect firefighters to neighbors that need help around the home. The first app, Hidrent, allows local homeowners to support their firefighters by setting the price for the job to be completed. Participating firefighters are then notified and given the opportunity to immediately accept a proposal through the second app, Hidrent Pro. The firefighter that responds will do so based on their qualifications and availability. Once accepted, both parties will be able to communicate through the app to work out the details. 

Traction


40K+ downloads to date

Since launching in 2018, Hidrent has seen 36K+ app downloads by community members and 4K+ downloads by local firefighters. We've helped over 1,600 jobs get completed and have earned over $300K in revenue to date, with plans to expand to more states in the coming year. 

Customers


Connecting communities

Hidrent creates jobs for firefighters and fixes problems for homeowners all in one step. We are building a trusted network of professionals while helping neighbors support their local firefighters.

Business model


Revenue share in B2C and B2B markets

We've adopted a revenue share model where 20% of all job revenue collected goes back to Hidrent. The average revenue per completed job is $247. 

What started as primarily a B2C company has evolved into solving labor needs for many businesses as well.



Market


The on-demand home service industry is on fire 🔥

With consumers becoming increasingly comfortable with the idea of booking services online, the home service business industry is trending right now. Data shows the current market size valued at approximately $600B with a 49% CAGR.

Hidrent has access to over 1.2M U.S. firefighters available and eager to work.

Competition


Hosing down the competition 

Hidrent is the only available service app exclusively utilizing off-duty firefighters to fulfill labor needs. Our platform was designed to make each step of the process simple for all parties, ensuring that we access a niche characterized by competent and quality professionals within the mainstream of productivity apps. 

Who would you choose?

COVID-19 Impact:  In December, 2019 we made the decision to stop paid advertising in order to focus on improving the product. As expected, we saw a dip in revenue in January and February, 2020. Then, COVID-19 reached the U.S. and Hidrent revenues began to spike. This chart illustrates the narrative that people trust firefighters in their homes more than anyone else...more than ever.

Vision and strategy


Get Help. Give Back.

Our vision is to become the most trusted source available for gig labor that simultaneously improves the financial well-being of neighborhood firefighters. 

To achieve this, our main focus right now is expansion. We have already launched our service in 7 major markets including: Austin, Dallas/Fort Worth, Denver, Houston, Phoenix, San Antonio and Tampa Bay. We have validated product/market fit, and now it’s time to aim higher. Our goal is to work with fire stations across the country, and expand to 15 total cities by the end of 2020. 

Funding


Reached 25% of funding goal

Hidrent has kicked off their seed round by so far raising $125,000 from institutional and angel investors. 

We are also being accelerated by the Capital Factory: The Center of Gravity for Entrepreneurs in Texas

Founders


Successful experience

Deal terms


Valuation cap

$3,000,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Discount

20%

If a trigger event for Hidrent occurs, the discount provision gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.

Minimum investment

$100

The smallest investment amount that Hidrent is accepting.
Learn more

Funding goal

$490K

The maximum amount the offering can raise is $490K.
Learn more

Deadline
Hidrent needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Hidrent Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Hidrent Crowd SAFE Hidrent Form C:A.pdf

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in Hidrent.
Invest
$500
Receive
  • A personal tweet, post or mention on social media
Invest
$1,000
Receive
  • A personal tweet, post or mention on social media
  • Website mention as early investor
Invest
$2,500
Receive
  • A personal tweet, post or mention on social media
  • Website mention as early investor
  • Quarterly Investor Report update
Invest
$10,000
Receive
  • A personal tweet, post or mention on social media
  • Website mention as early investor
  • Quarterly Investor Report Update
  • $100 donation to the Gary Sinise Foundation for First Responders in your name
Invest
$25,000
Receive
  • A personal tweet, post or mention on social media
  • Website mention as early investor
  • Quarterly Investor Report update
  • $250 donation to the Gary Sinise Foundation for First Responders in your name
  • A local firefighter will check smoke alarms for proper operation and location, and install batteries in your home
Invest
$50,000
Receive
  • A personal tweet, post or mention on social media
  • Website mention as early investor
  • Quarterly Investor Report update
  • $500 donation to the Gary Sinise Foundation for FIrst Responders in your name
  • A local firefighter will check smoke alarms for proper operation and location, and install batteries in your home
  • A local firefighter will hang and remove the lights on the outside of your home during the holiday season

Why others invested

See all reviews (86) See all (86)

I believe in our firefighters ! & It just plain makes sense !

Profile picture of RScott Dunn
RScott Dunn
Active investor
over 5 years ago

I invested because it's hard to find reliable help on projects to small for contractors.

Profile picture of Gregory Cornell
Gregory Cornell
Active investor
almost 6 years ago

Compelling brand, product and app that will likely breakthrough to consumers because it feels purpose driven, leverages the trustworthiness of firefighters and solves a common need.

Profile picture of Joselyn Bickford
Joselyn Bickford
Value-add investor
almost 6 years ago

About Hidrent

Legal Name
Hidrent Inc.
Founded
May 2019
Form
Delaware Corporation
Employees
1
Website
hidrent.com
Social Media
Headquarters
Google Map location of of Hidrent
3102 Oak Lawn Ave , Dallas, TX
Headquarters
3102 Oak Lawn Ave, Dallas, TX, United States 75219

Hidrent Team
Everyone helping build Hidrent, not limited to employees

Profile picture of Dave Heimbuch
Dave Heimbuch
Founder
Featured in Superheroes · Read
Profile picture of Kapil Khanna
Kapil Khanna
Technology Advisor
Profile picture of Dmitri Love
Dmitri Love
Technology Architect
Profile picture of Capital Factory
Capital Factory
Mentor Network & Accelerator
Profile picture of Capital Innovators
Capital Innovators
Accelerator
Profile picture of Go Grow
Go Grow
Development Agency
Profile picture of Divami Design
Divami Design
UI/UX Design Studio
6 more team members
Dave Heimbuch
Founder
Kapil Khanna
Technology Advisor
Dmitri Love
Technology Architect
Capital Factory
Mentor Network & Accelerator
Capital Innovators
Accelerator
Go Grow
Development Agency
Divami Design
UI/UX Design Studio

Press

20 Dallas Companies to Watch in 2020
Bootcampsdallas
·
May 22, 2020

DFW companies team up to provide gig work for firefighters
Americaninno
·
May 5, 2020

Capital Innovators taps new fund to invest in 7 startups
Stltoday
·
Feb 21, 2020

Hidrent Announces Business Partnership with Callbox Storage
Fireengineering
·
Aug 27, 2019

New app connects off-duty firefighters with people to com...
Fox10phoenix
·
Jan 14, 2019

Firefighters Use 'Hidrent' App To Serve Community During ...
YouTube
·
Oct 26, 2018

Hidrent app helps people with odd jobs
Fox7austin
·
Apr 9, 2018

Handy firefighters to the home task rescue with Hidrent App
Wfaa
·
Mar 21, 2018

Show all
Logo of Hidrent

Hidrent

Hidrent successfully raised $99,698 from 311 investors on January 30, 2021
Profile picture of RScott Dunn
Profile picture of Jerome Zhu
Profile picture of Berk Guneri
Profile picture of Alden Tabor
Profile picture of Doug Bridwell
RScott, Jerome, Berk, Alden, Doug, and 306 others invested. 86 Reviews
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