Edison Partners portfolio company LawnStarter acquired competitor Lawn Love in a cash-and-stock deal with financial terms not disclosed.
“The combination of LawnStarter and Lawn Love will further propel growth of the on-demand economy for lawn care and other outdoor services,” said LawnStarter co-founder and Chief Executive Officer Steve Corcoran in a statement. “Joining forces enables LawnStarter and Lawn Love to be even more disruptive together as we continue to revolutionize the outdoor services industry.”
LawnStarter and Lawn Love are graduates of two accelerators, Techstars and Y Combinator, and both companies have benefited from the rise in on-demand marketplaces dominated by companies such as Uber, Lyft, Doordash and GrubHub, according to LawnStarter’s Aug. 3 announcement.
According to Lawn Love founder and CEO Jeremy Yamaguchi, his company’s acquisition by LawnStarter allows both businesses to better capitalize on the growth of such on-demand, tech-enabled services.
“This deal effectively teleports both Lawn Love and LawnStarter years into the future,” Yamaguchi said. “It’s a dramatic acceleration toward our goal of empowering small business owners by providing the technology and tools to help them grow their businesses, compete with the big guys and ultimately thrive.”
LawnStarter CEO Corcoran will run Lawn Love and LawnStarter as separate brands. LawnStarter’s headquarters will stay in Austin and Yamaguchi will remain with the combined company.