Los Gatos, California-based tech platform ServiceUp has raised $55 million in Series B funding to streamline the vehicle repair process for fleet operators and insurers.
The round, led by PeakSpan Capital and existing investors, brings the company’s total funding to $70 million since its founding in 2021.
Originally an app designed to remotely manage consumer vehicle maintenance and repair, ServiceUp now also serves as a B2B repair partner for fleets, insurers and shops across the U.S.
The company manages the entire repair process for vehicles – all while providing updates and streamlining data in one platform from pickup to delivery.
“We’re not here to slightly improve vehicle repair management,” said Brett Carlson, co-founder and CEO of ServiceUp, in a news release emailed to FreightWaves. “We’re rebuilding it from the ground up. Every delay, every unknown, every wasted hour — we’re eliminating all of it with tech and automation. This raise gives us the fuel to move faster, go bigger, and keep pushing the auto repair industry forward.”
Making repairs easier
The platform removes manual follow-ups and offers greater transparency for previously clouded repair tracking processes. Its centralized dashboard manages collision, maintenance and mechanical repairs.
According to the company’s news release, ServiceUp has served leading logistics businesses by reducing their repair cycle times by over 30%.
“Auto repair has remained one of the last great black boxes in the modern economy — fragmented, opaque, and bogged down by outdated workflows and siloed point solutions,” said Jack Freeman, partner at PeakSpan Capital, in the release. “It’s a system that frustrates fleet operators, drains productivity, and kills margin for insurers and service providers. ServiceUp is dismantling that model. They’ve built the first truly intelligence-driven system of engagement for the automotive repair space — redefining how the entire ecosystem connects, communicates, and operates.”
The latest capital fundraising effort will allow ServiceUp to grow its team, enter new markets and boost development of its software as a service configuration: Connect. The new software is designed to pair seamlessly with ServiceUp 360, a managed service model for faster cycle times and more visibility at more efficient costs.
