ServiceThe platform, which automates and manages the vehicle repair process, raised $ 55 million in the Busy of Series Financial Funds conducted by Capital PeakpanThe company said Crunchbase News.
Financing brings the sum of Serviceup, from the starting of 2021 to almost $ 70 million. The company refused to reveal the valuation, noting that it was a “significant step up” $ 14.5 million A in 2022 Tiger Global Management He ran this round.
Existing supporters Hearst VenturesIN Trestle partnersIN Capital Midwest Fund AND Litquidge Ventures He also participated in the latest Serviceup increase.
Brett Carlson AND Brett Dashe He founded a startup Los Gatos in California “because the repair of the vehicle got stuck in the past.” They acted in accordance with the assumption that the management of the repair process is “one of the most painful parts of starting the fleet or processing claims”.
“It was slow, manual and full of back and back,” said Carlson Crunchbase News in an interview with E -Mail. “In the case of fleets and insurance carriers, this meant a loss of time, lost money and operational headaches.”
Serviceup is aimed at offering a centralized platform, so that insurance fleets and carriers can manage the repair process in one place, including repair approval, managing suppliers, tracking live repairs, billing and data observations.
For customers who want to totally relieve the repair process, the company offers Serviceup 360, its managed service, in which it serves all the things – including pickup and delivery of the vehicle – on behalf of its clients.
Serviceup is only one of just about 240 startups related to cars, which have so far collected about $ 3.5 billion to finance the project in 2025. data. Birmingham, with Alabama FleetInternet fleet management system, collected the largest of $ 450 million Financing of the D series. with a valuation of $ 1.55 billion.
According to Carlson, in 2024 Serviceup experienced an 180% increase in revenues. Although the company is not yet profitable, it predicts that it will be by 2026.
Today, Serviceup has over 50 clients in the fleet and insurance industry, including ZipcarIN Voyager Global MobilityIN Clearcover AND Cute.
The company earns money in two ways: for customers using the software the service charges SAAS; For people choosing the management of the 360 service, he charges the service for the service “to cover coordination, logistics and quality control,” said Carlson.
He claims that he has shortened the recovery cycle time for his clients by over 30%.
Carlson believes that the predominant distinguishing feature of Serviceup is that he focuses only on managing the full fleet repair process, in particular mechanical repairs and collisions.
“In the insurance space, large carriers often have direct repair programs (DRP), while smaller carriers are usually without a scalable solution,” said Carlson Crunchbase News. “Serviceup fills this gap, providing a specially built platform that manages the entire repair cycle with transparency, automation and speed.”
Serviceup plans to make use of its latest capital so as to add more automation and artificial intelligence on the platform and develop in Canada and other US states until next 12 months. Currently, the company has 63 employees.
Jack FreemanThe partner in Peakspan Capital, believes that the service “not only builds a different solution for corporate fleets.”
“They have a diverse vision and again imagine what the repair of automotive collision should look like,” said Crunchbase News via e -mail. “They … create solutions that have a significant difference by increasing visibility, reducing downtime and cost savings.