MOUNTAIN VIEW, Calif. — YourMechanic Inc., a mobile car repair network, has secured $10.1 million in funding to accelerate the expansion of its mobile car repair platform into Canada.
The company said it will use the funding to build additional services for rental, rideshare, corporate and government fleet managers.
The Series B1 funding was led by institutional and individual investors, including Royal Bank of Canada, SoftBank Capital, Verizon Ventures, American Family Ventures, Data Point Capital and former General Motors Co. chairman and CEO Rick Wagoner, among others, the company said.
"YourMechanic is profoundly changing the process of auto maintenance and repair by bringing a higher level of convenience, efficiency and transparency to car owners and auto technicians alike," YourMechanic President and CEO Anthony Rodio said.
"We are addressing the top challenges faced by fleet managers by delivering flexible service packages, including mobility centered repair services delivered to multiple fleet locations. With this funding, we'll accelerate those services and expand into Canada, to reinforce our market leadership position worldwide."
YourMechanic said it has mechanics in more than 5,000 cities across the U.S. and Canada.
Initially launched in 2017, YourMechanic's Fleet Solution has doubled its customer base in the rental, rideshare, corporate and government markets in the last 12 months, the company said.
"All aspects of the auto industry are undergoing incredible transformation, including service," according to Mr. Wagoner, an investor in and adviser to YourMechanic. "Mobility is going to be a part of that transformation, and I believe the team at YourMechanic has a compelling technology platform and vision."
"We view YourMechanic as an exceptionally effective and innovative platform that can facilitate mobility in car repair and maintenance issues across many use cases, and they are leading the market with their international expansion and service offering for fleet customers," Joe Medved, SB Capital partner, Lerer Hippeau Ventures, said.
YourMechanic's network of mechanics offers more than 800 on-site repair, maintenance and diagnostic services for customers at their homes or offices, seven days a week.
Founded in 2012, the company said it has secured $35.3 million in funding to date.
For more information, visit yourmechanic.com.