Nana Technologies procures $6m seed

San Francisco-based Nana Technologies, a free online vocational school for appliance repair, has raised $6 million in seed funding.

San Francisco-based Nana Technologies, a free online vocational school for appliance repair, has raised $6 million in seed funding. Shripriya Mahesh of Spero Ventures led the round.

PRESS RELEASE

SAN FRANCISCO, CA — November 12, 2020 — Nana Technologies Inc., which comprises free online vocational school Nana Academy and appliance repair marketplace Nana Home, today announced it has raised $6 million in seed funding. Nana will use the funds to help address the massive shortage of skilled trade labor in the U.S. and up-skill some of the 30 million people who stand to lose their jobs because of tech automation.

The funding round is led by Shripriya Mahesh of Spero Ventures, with participation from Jeff Weiner’s Next Play Ventures, Lachy Groom, Scott Belsky, Geoff Donaker of Burst Capital, and Michael Staton of Learn Capital, among others. This latest round brings Nana’s total funding to $10.7M. Previous investors include Alpha Bridge Ventures, Bob Lee, and the Uber Syndicate.

Nana Technologies is a free online vocational school for appliance repair that gives graduates their first job and then helps them build their career through an AI-powered marketplace platform. The funding will be used to build out the marketplace, expand into new geographical locations, and improve the academy so technicians can learn and move into jobs more quickly.

“There is a growing skills gap in the United States,” says Nana Technologies founder and CEO David Zamir. “Skilled trades are in high demand, but the current workforce isn’t equipped to meet it. At the same time, the U.S. is dealing with massive unemployment and underemployment caused by the pandemic. Nana is creating a pipeline of skilled tradespeople to meet the demand while also providing opportunity for millions of unemployed individuals across the country. We are thrilled to have the support of Spero Ventures, who shares our belief in the power of technology to help Americans find purposeful work that allows them to build the life they desire.”

The trade shortage problem is acute in the $4 billion appliance repair market, where more than 80 million appliances need to be serviced annually, but there are only 31,000 trained technicians. Given its aging baby boomer workforce, an estimated 28,000 new appliance repair technicians will be needed by 2025, but there is no integrated effort to prepare people for those jobs.

“We are excited by Nana’s vision of providing training, access and opportunity for rewarding, satisfying work while also filling a critical gap in our economy,” said Shripriya Mahesh of Spero Ventures. “Nana has created a new, scalable approach to giving people the agency, tools and support systems they need to build new skills and pursue fulfilling work opportunities.”

Nana’s marketplace of jobs is driven by partnerships with major appliance and warranty companies including GE, Miele, Samsung, Assurant, Cinch and First American Home Warranty. It also accepts direct requests from consumers for repair of dishwashers, refrigerators, ovens, stoves, washers and dryers.

Nana currently has hundreds of technicians in 12 markets across the U.S. and expects to expand to 20 markets by the end of 2021.

ABOUT NANA TECHNOLOGIES
Nana is a free online vocational school for appliance repair that gives graduates their first job and then helps them build their career through an AI-powered marketplace platform. Founded in 2017, it is headquartered in San Francisco and operates in 12 markets across the U.S.

The company’s leadership team includes CEO David Zamir, VP of Engineering Oliver Nicholas and VP of Operations Callie Bladow. Josh Elman of Greylock Partners and Jake Chapman of Alpha Bridge Ventures are advisors to the company.