Wrench raises $20 million
Wrench , the mobile vehicle maintenance and repair solution that brings “dealer-quality service” directly to consumers and fleet customers, has raised $20 million in a Series C round led by Vulcan Capital, with participation from Madrona Venture Group, Tenaya Capital and Marubeni Corporation.
The funding comes on the heels of Wrench’s acquisition of Canada-based mobile automotive mechanic startup Fiix, which provides mechanic services to more than 80,000 customers within their North American network.
Founded in 2015, the Seattle, WA-based company raised a total of $37.2 million and has serviced over 100,000 vehicles to date. Wrench allows users to schedule vehicle maintenance and repair service with full-time, ASE-certified mechanics who travel directly to the customer’s destination of choice. Every repair or service includes a one-year, 12,000-mile warranty and an extensive vehicle inspection with a report delivered to the customer.
“Busy consumers need a simple scheduling and vehicle diagnosis system to deliver repair and maintenance services without the hassle of the waiting room. With full-time, trusted mechanics and world-class operations supporting both vehicle owners and the staff that serves them, Wrench has provided convenience, competitive pricing and unmatched quality repairs to over 100,000 vehicles. As Wrench continues to grow and expand both our service offerings and footprint, we look to bring our convenient solution to many more consumers and commercial fleets across the country.” – Ed Petersen, CEO of Wrench.
“Consumers are embracing on-demand services that make their lives better. Wrench’s technology-enabled mobile mechanic service saves customers time and money – resulting in high customer satisfaction and lifetime value. With more than 270 million vehicles in the United States, the opportunity is enormous.” – Stuart Nagae, Director of Venture Capital at Vulcan Capital.
Bottom Line: Imagine if the mechanics were also licensed insurance agents – “I can get you a sweet insurance deal for this one.”