YourMechanic, a Mountain View, CA-based on-demand auto mechanic service for consumers to schedule and perform car maintenance, raised $24m in funding.
Backers included SoftBank Capital, Lerer Hippeau Ventures, Data Point Capital, Andreessen Horowitz, SAIC, Verizon Ventures, American Family Insurance, PG Ventures, Promus Ventures, and Silicon Valley Bank. In conjunction With the funding, Joe Medved from Lerer Hippeau Ventures and Scott Savitz from Data Point Capital will be joining the Board.
The company, which has raised $32m in total financing, will use the funds to make their service available nationwide and in Canada.
Founded in 2012 by CEO Art Agrawal, YourMechanic connects car owners with certified mechanics who make house calls. The company offers over 500 on-site services, including oil changes, brakes, belts, heating and A/C, manufacturer scheduled maintenance, diagnostics, etc. Each service is backed by a 12-month, 12,000-mile warranty and $1 million liability policy.
Consumers get an upfront price for services and book an appointment through the YourMechanic mobile app or website. After the service is done, the customers and mechanics rate each other. Mechanics must maintain a 4-star rating or higher to continue their work on the platform.
FinSMEs
01/03/2016