NEW YORK, Oct. 21, 2024 /PRNewswire/ — Today, Zephyr announced that it has raised over $60M in new growth capital led by Elda River Capital (“Elda River”) and The Pritzker Organization (TPO). Zephyr will use the new funding to support additional home services business acquisitions and continued technical innovation. This latest round brings Zephyr’s total funding to nearly $100M since it started operating in November 2022.

Zephyr is a technology-enabled home services platform built with the technician at the center. Zephyr acquires local service providers in targeted markets, integrates them into a unified technology and productivity platform, and drives growth at those local brands with centralized support in recruiting, training, marketing, operations effectiveness, finance, M&A and more. By reimagining the technician experience, Zephyr is driving efficiency, retention, and profit for local HVAC brands across the country.

“Zephyr is accelerating the digital transformation of home services,” said Michael Dean, Partner at Elda River. “The Zephyr platform prioritizes the technician experience to deliver improved customer comfort through superior service, enhanced technician knowledge and the installation of more energy efficient mechanical systems.”

The mechanical (HVAC), electrical, and plumbing market captures over $125B spend each year, but the industry is facing a 50% projected technician labor shortage that is set to undermine an already fragmented market. The employee experience in the skilled trades has fallen far behind other industries, which has made it very difficult to attract and retain talent. As the first technician-centric operating platform, Zephyr is solving this problem by utilizing technology and people management to differentially attract and retain technicians.

“We are excited to partner with the team in accelerating the growth at Zephyr,” said Billy Nand, Managing Director at The Pritzker Organization. “Zephyr’s differentiated strategy is poised to create a unique platform in home services.”

Zephyr has closed on twelve acquisitions to date in a handful of target geographies, including the metro areas of Washington, DC; Houston; Palm Beach/South Florida; and Denver.  With the company’s current funding, the team expects to eclipse $100 million of revenue this year and is organically growing over 25%.

Zephyr is led by CEO and Co-founder Shawn Weidmann, who has over 15 years of executive experience leading and scaling businesses with expansive front-line employee bases, and most recently served as CEO of private-equity backed Spring Education, the largest network of  private PS-12 schools in the US. Shawn is joined by Chief Financial Officer Michelle DiPasquale, who has more than 20 years of PE-backed CFO experience and deep, multi-site M&A experience; and Chief Product & Technology Officer Kevin McDunn, who has 20+ years experience developing mobile-first productivity applications. Zephyr was built at Juxtapose, a leading creation-oriented investment firm focused on building industry-transforming businesses from the ground up, alongside Co-founder and current Head of Strategy, Deklan Robinson, who brings significant consumer services and M&A experience from his roles at Harry’s and L Catterton.

With this investment, representatives from Elda River and TPO will join Zephyr’s board of directors. Michael Morgan, a founding member of Triangle Peak Partners, will also join Zephyr’s board as an observer. Morgan is the former president and current lead director at Kinder Morgan, one of the largest energy infrastructure companies in North America.

“We’ve assembled an incredible team in pursuit of our mission to perfect the home services experience,” said Weidmann. “We’re thrilled to use this investment to build on Zephyr’s early momentum and continue driving growth, efficiency and success in the industry – while ensuring technicians are at the core of everything we do.”

With this new round of funding, Zephyr plans to continue executing on its geographic growth plans in both new and existing markets. Zephyr also plans to continue investing in its proprietary technology platform to enhance its unique and compelling offering to technician talent across the industry.

“We are proud of everything Zephyr and its talented leadership team has already accomplished,” said Geoff Miller, Partner at Juxtapose. “We welcome Elda River and TPO to the company, and are excited for Zephyr’s next chapter of growth.”

For more information on Zephyr, visit www.zephyrhome.com.

About Elda River Capital

Elda River Capital is a real assets investment firm focused on energy transition and infrastructure opportunities. The Elda River team has a long history of partnering with exceptional management teams to create value for our stakeholders. Since inception, Elda River has committed over $7.0 billion of capital across more than 70 completed investments.  Elda River is headquartered in Houston, Texas with additional offices in Evanston, Illinois and London, United Kingdom. Visit www.eldariver.com for more information.

About TPO

TPO is the merchant bank for the business interests of the Tom Pritzker family. TPO is focused on partnering with exceptional leaders to create value across a wide range of industries. TPO looks for opportunities where it can create value for the family’s interests and those of its partners and colleagues over a significant time horizon. For more than 60 years, TPO has overseen and guided the development of dozens of portfolio companies across a wide variety of industries, including manufacturing, logistics, life sciences, hospitality, healthcare and services. Notable businesses include Hyatt Hotels, Triton Container and the Marmon Group. Recent control investments include TMS International, Lithko Contracting, KBP Investments, Mammoth Holdings, STV Inc., and Crown Health Care Laundry Services. In addition to its core strategy of building businesses over the long term, TPO is also active in special situations, advising the family’s interests in the deployment of capital across a wide spectrum of industries and investment structures. Additional information can be found at https://pritzkerorg.com.

About Juxtapose

Founded by Patrick Chun and Jed Cairo in 2015, Juxtapose is a creation-oriented investment firm exclusively focused on building industry-transforming businesses from the ground up. Juxtapose and its associated investment funds have supported the creation and financing of technology companies such as Care/of, Tend, Orchard, Great Jones, DayForward, and Modern Age. The firm partners with some of the world’s most experienced and talented entrepreneurial operators to found and scale category-defining technology companies that have trajectories to be the market leaders in the industries in which they operate. To learn more, please visit www.juxtapose.com.

Contact: Juxtapose@derris.com

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SOURCE Zephyr