Jerry raises $75 million at $450 million valuation

Palo Alto-based car insurance shopper Jerry closed a $75 million Series C funding round led by Goodwater Capital at a $450 million valuation, bringing its total funding to $112 million.

Launched in 2019, Jerry serves over 1 million customers as a licensed insurance broker in all 50 states. The startup works with a range of carriers including Progressive, Allstate, and Travelers, but GEICO is out of the mix. Jerry is also a member of ISU insurance agency network. Also, this new funding round “fuels the launch” of Jerry’s super app marketplace in vehicle financing, repair, warranties, parking, maintenance, and additional money-saving services.

With this funding announcement, the company also announced the launch of vehicle financing, repair, warranties, parking, maintenance, and additional money-saving services; turning it into a car-ownership marketplace instead of a car insurance marketplace.

“We’re helping our customers find savings on car expenses because we believe driving can be kept affordable and accessible . This $75 million investment accelerates the development and refinement of additional automotive compare-and-buy marketplaces.” – Art Agrawal, Jerry co-founder, and CEO.

Jerry is headquartered in Palo Alto, operates offices in Toronto and Lockport, NY, and employs remote staff.