Servify’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)
Legal Name: Service Lee Technologies Private Limited | CIN: U74120MH2015PTC265511
Servify, founded in 2015 by Sreevathsa Prabhakar, is a Mumbai-based global after-sales service platform offering device management, warranty and protection plans, diagnostics, and fulfillment. Leveraging AI-driven diagnostics and partnerships with top electronics brands, Servify streamlines post-purchase experiences, reduces downtime, and drives recurring revenue through subscription models.
| Founding year | 2015 |
|---|---|
| Headquarters | Mumbai, Maharashtra, India |
| Valuation | Estimated ~$1B+ (pre-IPO) |
| Total Funding | $165M+ over multiple rounds |
| Employees | ~700 (FY24) |
| Annual Revenue (INR) | ₹755 Cr (FY24) |
| Annual Net Loss (INR) | ₹93.81 Cr (FY24) |
| EBITDA Margin | -8.83% (FY24) |
| Round | Date | Amount | Valuation | Investors |
|---|---|---|---|---|
| Seed | Apr 2016 | Undisclosed | Not disclosed | Blume Ventures, Beenext, Barkawi Holdings, TM Service Technology Holdings |
| Series B | Aug 2018 | $15M | Not disclosed | Iron Pillar, Blume Ventures, Beenext |
| Series C | Sep 2020 | $23M | Not disclosed | Iron Pillar, Blume Ventures, Beenext, Tetrao SPF |
| Series D | Aug 2022 | $65M | ~$700M valuation | Singularity Growth Opportunities Fund, Iron Pillar, Blume Ventures |
| Series D Extension | Aug 2024 | $10M (debt/equity) | Not disclosed | Bajaj Holdings, Trifecta, Innoven Capital |
Servify’s revenue grew from ₹500 Cr in FY22 to ₹611 Cr in FY23 (↑22%) and to ₹755 Cr in FY24 (↑23.6%), while net loss narrowed from ₹300 Cr to ₹229.11 Cr (↓23.6% YoY) and to ₹93.81 Cr (↓59% YoY), reflecting improved unit economics and higher adoption of protection plans.
Servify’s EBITDA margins improved from -60% in FY22 to -32.95% in FY23 and to -8.83% in FY24 through scale efficiencies, optimized operations, and digital automation reducing overheads.
Employee count grew from ~500 in FY22 to ~600 in FY23 and ~700 in FY24 as Servify expanded its global network and technology teams. Future hiring focuses on AI, data analytics, and service support to sustain growth.
- Expand global partnerships with electronics brands for comprehensive after-sales solutions and subscription models.
- Invest in AI-driven diagnostics and predictive maintenance to enhance customer experience and reduce costs.
- Develop tiered protection plans and extended warranty services to drive recurring revenues.
- Optimize unit economics through process automation and lean operations.
- Prepare for pre-IPO funding and target IPO upon achieving sustained profitability.
In FY24, Servify reported ₹755 Cr revenue (↑23.6% YoY) and narrowed net loss to ₹93.81 Cr (↓59% YoY), driven by higher protection plan adoption and operational efficiencies. Recent funding includes a Series D extension (~₹84 Cr / $10M) in 2024. The company is exploring pre-IPO funding in 2025 to fuel global expansion and invest in AI-based service automation.
| Metric | Details |
|---|---|
| Employees | 500 → 600 → 700 |
| Revenue | ₹500 Cr → ₹611 Cr (↑22%) → ₹755 Cr (↑23.6%) |
| Net Loss | ₹300 Cr → ₹229.11 Cr (↓23.6%) → ₹93.81 Cr (↓59%) |
| EBITDA Margin | -60% → -32.95% → -8.83% |
| Valuation & Funding | Estimated ~$1B+; $165M+ funding |
| IPO Status | Private; preparing for pre-IPO funding and targeting IPO post-profitability. |
| Expansion Focus | Global partnerships, AI diagnostics, automation, subscription models. |
| Latest News | ₹755 Cr revenue, ₹93.81 Cr loss FY24; pre-IPO plans underway. |
Servify’s robust revenue growth and narrowing losses highlight its leadership in after-sales services. Continued focus on technology innovation, brand partnerships, and operational efficiency will be key to achieving sustained profitability and a successful IPO.
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