Wrench Announces $20M Series C to Bring Highest Quality Vehicle Maintenance and Repair Services to More Doors Across U.S.
Led by Vulcan Capital, Funding Will Fuel Internal Company Growth, Further U.S. Expansion and Broaden Offerings in Current Markets
Nov 07, 2019, 08:00 ET
SEATTLE, Nov. 7, 2019 /PRNewswire/ -- Wrench, the mobile vehicle maintenance and repair solution that brings dealer-quality service directly to consumers and fleet customers across the U.S., today announced a $20 million Series C funding round led by Vulcan Capital, with additional participation from Madrona Venture Group, Tenaya Capital and Marubeni Corporation.
The funding will accelerate Wrench's growth, allowing the company to further spread its service-area footprint to untapped markets. Wrench also has plans to hire new executive-level employees, expand mechanic service offerings and add additional mechanics in key target markets.
"Busy consumers need a simple scheduling and vehicle diagnosis system to deliver repair and maintenance services without the hassle of the waiting room," said Ed Petersen, CEO of Wrench. "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."
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. Wrench mechanics make the experience hassle-free, servicing cars and trucks of varying makes and models with unparalleled quality of service. Every Wrench repair or service includes a one-year, 12,000-mile warranty and an extensive vehicle inspection with a report delivered to the customer.
On average, using Wrench saves vehicle owners upwards of three hours of travel and service time, reducing the stress of vehicle maintenance and repair. Wrench also saves users as much as 30 percent on vehicle maintenance and repairs when compared to traditional dealer service departments.
"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," said Stuart Nagae, Director of Venture Capital at Vulcan Capital. "With more than 270 million vehicles in the United States, the opportunity is enormous."
The funding comes on the heels of Wrench's acquisition of Canada-based mobile automotive mechanic startup Fiix. Fiix provided mechanic services to more than 80,000 customers within their North American network. The acquisition will allow Wrench to unlock new customers across the United States, as well as strengthen Wrench's growing fleet services business.
For more information on Wrench, visit www.wrench.com.
About Wrench
Wrench is the mobile vehicle maintenance and repair solution that brings dealer-quality service directly to consumers and fleet customers across the U.S. With full-time, ASE-certified mobile mechanics, Wrench provides full-service auto repairs and maintenance that users can schedule at their location of choice via the Wrench mobile app. Each Wrench service request comes with a fixed price or customized quote, with savings of as much as 30 percent versus traditional dealer service repairs. Wrench performs a wide range of repairs and maintenance on all types of cars and trucks, saving users money, hours of travel and waiting room boredom. Wrench is a privately held company headquartered in Seattle, WA with investments from major venture capitalists, including Madrona Venture Group, Vulcan Capital and Tenaya Capital and Marubeni Corporation. To learn more, please visit: www.wrench.com.
PR Contact
Will McKenna
Barokas PR for Wrench
[email protected]
(440) 665-0831
SOURCE Wrench, Inc.
