Castrol InnoVentures, the corporate venturing unit of oil major BP’s motor oil and lubricants division, has made its first deal by co-leading a $13m series B round for US-based RepairPal, a website for auto maintenance and repair information.
The other co-lead in the B round was Cars.com, a division of Classified Ventures, which is owned by media companies Washington Post and AH Belo.
Since being founded in 2007, RepairPal has raised $20m, which includes $4m in its A round, led by venture capital firm Tugboat Ventures.
Art Shaw, chief executive at RepairPal, said: “Cars.com and Castrol are two names that almost every car owner knows and trusts. Having two leaders in the industry fund the growth of our network of auto repair shops is a tremendous validation of the role RepairPal will play in the lifecycle of car ownership and maintenance.”