What Happened To Hidrent After Shark Tank?

Hidrent is a home service provider platform that provides trusted service. Hidrent hires off-duty firefighters and through them provides different home projects and services to the customers. Off-duty firefighters are trusted and skilled professionals.

Any person who wants to become a firefighter must clear some interview rounds along with passing the written and physical tests. After training in fire academy, you get a certificate of firefighter. In this, all the details of the person are identified so that there is no issue of any kind later.

Because of this, firefighters are trusted and people trust them easily. This company provides home service by hiring an off duty firefighter.

If an unknown person comes to your house to do some work, then you cannot easily trust him. But if the firefighter comes to your house then there is no trust issue with him.

Hidrent hires off-duty firefighter to solve the trust issue with people and assign home service work. Off-duty firefighter will also be able to earn some extra money through this platform.

Dave Heimbuch started this Hidrent company in 2017, although Heimbuch is not a firefighter, he comes from a tech sales background. Heimbuch appeared on Shark Tank Season 13 Episode 6 with his company and asked the sharks for $300,000 for an 8% equity at a $3.7 Million.

What Is Hidrent?

Hidrent is a truly trustworthy platform that helps Off-Duty firefighters to provide them with extra income while off duty. People will book any kind of projects and services through this platform or mobile app and a skilled firefighter will come to do the job.

If you book any home service on this Hidrent app, its notification will go to your nearest firefighter person. The firefighter will accept the order and the firefighter will go to your home to do the work.

After the firefighter completes your household work, he will mention the time in the app for how long he has done the work. This invoice will come to you and you will have to complete that payment in the Hidrent app.

Hidrent will deduct 20% charge from the amount paid by you and will give 80% amount to the firefighter.

This platform provides different types of services, it includes Light Fixtures, General Handyman, Furniture Moving, Holiday Lights, Smoke Detectors, Hanging, Hauling, Furniture Assembly, TV Wall Mount and Gutter Cleaning.

For each job, the customer may have to pay approximately $100 to $300.

Another Shark Tank Pitch

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Who Is The Founder Of Hidrent?

David Heimbuch is the founder of Hiderant Company and also a professional sales person. Haimbuch has worked as a sales person for many companies including Tapad, AT&T Mobility, Shazam Entertainment and many more.

He studied Bachelor of Science, Business Administration from the University of Nebraska-Lincoln. He is also an Accelerator Program member of Capital Factory since April 2019.

Hidrent Before Shark Tank

Hidrant Company was launched by Heimbuch in 2018 to provide extra income to off duty firefighter and provide better service to the customer.

This company’s mobile app is available for both Android and IOS platforms. Many iOS users are downloading this app on AppStore. Heimbuch said in Wfaa interview that his app is getting 1,000 downloads every month.

Hidrent partnered with DAVACO in August 2020 to provide firefighter/EMT supervisors at new COVID-19 testing sites in DFW.

In 2020, this company was providing its service in Austin, Dallas/Fort Worth, Denver, Houston, Phoenix, San Antonio and the Tampa–St. Petersburg–Clearwater area.

According to Prnewswire, 35,000+ customers have downloaded the Hidrate app in 2018 and 4,000 firefighters are providing service on this app.

Heimbuch comes from a marketing and sales background and is married to a Fairfighter family. Haimbuch’s brother-in-law is a firefighter and he used to do some home repair work, So Heimbuch had an idea and built a platform so other firefighters could earn extra money.

How Was The Shark Tank Pitch Of Hidrent?

Dave Heimbuch entered Shark Tank with his company Hidrent and asked the sharks for $300,000 for an 8% equity. Heimbuch showed Shark a demo session to understand his service, although the demo session was fun.

This business was launched in 2018 and has a lifetime sale of $850,000. $125,000 in 2019, $260,000 in 2020 and $325k so far in 2021. This company takes 23% from these sales. Hidrent charges Homeowner $72 per hour and pays Firefighter $60.

Majority of customers on this platform are senior citizens. They get customers through Google, Facebook and NextDoor. Nirav Tolia had said that they had added 50 million users to NextDoor without spending a single dollar on advertising.

Nirav Tolia said that he has completed the Neighborhood Journey, so he is out. Mark Cuban said that he does not see the path to control your destiny, so because of this he is out.

Robert Herjavec said it was a brilliant idea so he would make an offer, his offer was $300k for a 20% equity. Kevin O’Leary said that he cannot take this journey then he is out. Lori Greiner said she had a soft spot for the Firemen, so she wanted to go with Robert on the offer.

Lori said Robert and she would come up with $300k for a 20% equity, But Robert said that he needs more 20% because this is not enough. Robert counters $300k for a 35% equity. Heimbuch countered Robert & Lori for $300k for a 20% equity.

Robert said that it is not enough for both of us. Lori made an offer of $300k for a 33.3% equity. Heimbuch took the deal.

Finalize: Lori Greiner and Robert Herjavec invest $300k in “Hidrent” for 33.3% equity.

What Happened To Hidrent After Shark Tank?

Hidrent Handyman Company got successful funding in Shark Tank both Lori and Robert invested in it. This platform only hires Fairfighter and people trust Fairfighter easily. Many senior citizens and single moms can use this app without any problem.

Till coming in Shark Tank, this company was providing its service only in some states, in present time it is providing its service nationwide.

The company raised $662.5k from 9 investors in a seed round on Feb 21, 2020, before appearing on Shark Tank, reports Crunchbase.

The company had run equity base funding on StartEngine at $8.5 million valuation. This fundraiser closed on Oct 20, 2022 and the company raised a total of $143,080.02 from it.

As of December 2022, There was talk of changing the name of Hidrant in Shark Tank, but the name has not been changed yet.

Hidrent Shark Tank Update

Robert and Lori have become one third partner in Hidrent Company and there is no evidence in December 2022 to know that this deal has been closed.

This company has announced that they will have a partnership with the International Association of Fire Fighters till 2024. With this, this company will be able to connect with 300,000+ firefighters. As of December 2022, the annual revenue of this company is approximately $1.4+ million.

We’re following Dave Heimbuch along with his company for further updates.

What Is Hidrent Net Worth?

In Shark Tank, this company asked a $3.7 million valuation, but Hidrent signed a deal worth $937k in Shark Tank. Right now this company is providing its service nationwide and gradually it can be used by senior citizens and single mothers.

Is Hidrent Still In Business?

According to a report, in the United States in 2020, there are about 16.9% who fall in the category of senior citizens and their age is more than 65 years.

This is a huge percentage of senior citizens and the target customers of the app are senior citizens. If this app is marketed properly then many senior citizens will be able to use it.

This company has been featured in many media publications including CBC, Fox, Yahoo Finance, CNBC an many more.

This Handyman company is headquartered in Dallas, Texas, United States and 2-10 employees are operating this company.

Yes, Hidrent Inc is still in business as of December 2022.