Auto Repair Tech Startup ServiceUp Nets $14.5M to Expand

Autotech startup ServiceUp, which provides end-to-end car repairs, has secured $14.5 million in Series A funding, a press release said.

The startup, founded in South Bay in 2021, connects customers to advocates who manage the entire car repair process including payments. It works with “pick up, delivery, repair estimates, and management to payment, including BNPL (buy now, pay later) financing options and customer service.” The company is also working on a suite of machine learning and AI tech to help out with efficiency for logistics, customer service and marketing.

ServiceUp also offers its consumer app as a perk for big employers like Amazon, NVIDIA, Meta and LinkedIn.

“As consumers keep their cars longer due to rising car prices and lack of inventory, the time and cost to repair are becoming more significant investments for consumers. By creating an end-to-end, fully automated experience, ServiceUp has taken away the headache of car repair for thousands of customers,” said co-founder and CEO Brett Carlson. “Early data shows our customers are saving an average of 4-6 hours per service by using ServiceUp as their car repair partner, which is a desirable alternative to managing it themselves and a lower cost than going to the dealer.”

In other autotech-related news, Autotech Ventures has raised around $120 million from various companies and investors to roll out a new fund, to be used to invest in startup companies, PYMNTS wrote.

Read more: Autotech Ventures Raises $120M For New Auto-Focused Fund

The fund will be focused on digital vehicle technology and transportation services, with the fund also wanting to hook up its company backers with some startups to invest in.

The fund already has investment in Lyft and Outdoorsy, which helps people share recreational vehicles, along with other investments like Work Truck Solutions, a startup developing software to help manage commercial truck fleets and track their movements.