Imagine if getting your car fixed was as easy as ordering an Uber or a Lyft. El Segundo-based startup RepairSmith has set out to do just that with its automotive repair app. Now the company is receiving a fresh injection of capital to keep the motor running well into the future.
RepairSmith announced Thursday that it raised $42 million in a Series B led by TI Capital. The round also featured investments by automotive giants Mercedes-Benz and Porsche Ventures. The cash infusion will be used to fuel RepairSmith’s growth as it continues to expand across the U.S.
RepairSmith provides customers with on-site car repair and maintenance services at their home or their workplace. Those in need of a fix can get one by scheduling an appointment via RepairSmith’s app. In addition to its flagship offering, the company also offers on-location service to fleet operators, car rental agencies and dealership customers.
But who actually does the fixing? Instead of contract workers, RepairSmith employs a team of full-time technicians who are required to undergo a series of background checks, certification verification and customer service training.
“The independent automotive repair market has not changed in 50 years, and is ripe for massive disruption,” Joel Milne, co-founder and CEO of RepairSmith, said in a statement. “Since launching our service, RepairSmith has been delivering the most contemporary, convenient and cost-effective repair solution for the digital age.”
RepairSmith has completed over 100,000 service appointments to date, according to the company.
RepairSmith’s services are available in 650 cities across California, Arizona, Georgia, Nevada, Oregon and Texas. Following the latest raise, the company has its sights set on expanding to the Southeastern and Mid-Atlantic regions of the U.S.
Founded in 2018, RepairSmith has raised $42 million in venture capital financing to date, according to Crunchbase.