RESEARCH TRIANGLE PARK, N.C. — Goodyear Ventures is among a half-dozen entities that participated in a $30 million round of venture financing for Get Spiffy Inc., a provider of on-demand car care and maintenance active in 45 key metro markets throughout the U.S.
The new round of financing is meant to help drive growth across the business and fuel Spiffy’s private-label hardware and software-as-a-service offering for automotive dealers, Digital Servicing, the company said.
The new round was led by Edison Partners, with participation from existing investors Tribeca Venture Partners, Bull City Venture Partners, IDEA Fund Partners, Trog Hawley Capital, Attinger, Private Access Network, and strategic investors Shell Ventures, Goodyear Ventures.
In addition, a number of vehicle dealership groups, including Bowers Automotive Group, Qvale Auto Group, and the Sewell family, among others, participated, thanks to Presidio Group, which acted as exclusive adviser to Get Spiffy.
“Automotive industry leaders understand the growing need to meet customers 'where they are' and Spiffy is uniquely positioned to provide software, hardware, and mobile service delivery expertise to help the industry elevate customer experience and grow revenue,” Spiffy CEO Scot Wingo said.
"We are meeting the quickly evolving preferences of convenience-oriented customers across our fleet and consumer verticals," he added.
Goodyear Ventures — an investment fund founded in 2020 — said it considers the investment in Get Spiffy a "strategic fit" within its portfolio since the company is considered to be among the leaders in the mobile-car care business, which it said has risen in popularity with fleets and end-users alike.
The size of Goodyear Ventures' investment was not disclosed.
Get Spiffy disclosed recently its revenue increased last year over 2021 by 90% and hired Brad Schomber as its chief financial officer. Spiffy expanded into about 30 new territories in 2022, mostly through franchise agreements. The team also introduced Spiffy Brakes and the Smart Tumbler odor elimination device for fleets.
By year-end, the business was delivering between 3,000 and 4,000 services a day with over 500 technicians and 300 vans nationwide, Spiffy said.
The company said it operates its mobile vehicle service business in more than 45 markets offering, in part, wash and detail, oil change, tires, breaks and other car-care options. Each service is performed onsite at fleets, office parks and residences via its Spiffy Green system, the company said.
"After seeing what Spiffy is building from [its] consumer app to green mobile service delivery, we are thrilled to invest in its growth," Bruce Qvale, CEO of Qvale Auto Group, said in the statement.