MOUNTAIN VIEW, Calif., Oct. 9, 2018 /PRNewswire-PRWeb/ -- YourMechanic, the industry leading mobile car repair network, today announced that it has closed $10.1 million in Series B1 funding led by institutional and individual investors including Royal Bank of Canada, SoftBank Capital, Verizon Ventures, American Family Ventures, Data Point Capital, and Rick Wagoner, former Chairman and CEO of General Motors, among others. YourMechanic will use the funds to accelerate international expansion for its mobile car repair platform, which connects car owners with mobile mechanics who provide more than 800 repairs, maintenance, and diagnostic services. The company will also utilize this funding to build out additional services for rental, rideshare, corporate, and government fleet managers.
"YourMechanic is profoundly changing the process of auto maintenance and repair by bringing a higher level of convenience, efficiency and transparency to car owners and auto technicians alike," said, Anthony Rodio, President and CEO, YourMechanic. "We are addressing the top challenges faced by fleet managers by delivering flexible service packages, including mobility centered repair services delivered multiple fleet locations. With this funding, we'll accelerate those services and expand into Canada, to reinforce our market leadership position worldwide."
YourMechanic is the global market leader in mobile car repair, with 1.3 million cars on the platform. The company has mechanics in more than 5,000 cities across the U.S. and Canada. Initially launched in 2017, YourMechanic's Fleet Solution has doubled its customer base in the rental, rideshare, corporate and government markets in the last 12 months.
"All aspects of the auto industry are undergoing incredible transformation, including service." said Rick Wagoner, former Chairman and CEO, General Motors and investor in/advisor to YourMechanic. "Mobility is going to be a part of that transformation and I believe the team at YourMechanic has a compelling technology platform and vision."
"We're excited about YourMechanic's accomplishments to date, and look forward to working with their talented management team," said Joe Medved, SB Capital Partner, Lerer Hippeau. "We view YourMechanic as an exceptionally effective and innovative platform that can facilitate mobility in car repair and maintenance issues across many use cases, and they are leading the market with their international expansion and service offering for fleet customers."
For more information about YourMechanic, please visit https://www.yourmechanic.com/.
About YourMechanic
YourMechanic is the industry leader in mobile car repair, offering more than 800 repair, maintenance, and diagnostic services. YourMechanic is available in most major metropolitan areas across the US and Canada. YourMechanic connects mobile mechanics to customers who seek affordable and convenient car repair services at their home or office, seven days a week.
Founded in 2012 and headquartered in Mountain View, California, YourMechanic is funded by SoftBank Capital, Andreessen Horowitz, Y Combinator, Ashton Kutcher, Data Point Capital, and others. The company has secured $35.3 million in funding to date and holds an A rating from the Better Business Bureau. For more information on YourMechanic, to book a service, or to view current career opportunities, visit http://www.YourMechanic.com.
SOURCE YourMechanic
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