YourMechanic, the US-based provider of an on-demand car mechanic service, received $24m yesterday in a round that included a host of corporate backers.
The investors included SoftBank Capital, a corporate venturing subsidiary of telecommunications and internet group SoftBank, automotive manufacturer SAIC, Verizon Ventures, which acts as telecoms company Verizon’s corporate venturing unit, and insurance firm American Family Insurance.
Lerer Hippeau Ventures, Data Point Capital, Andreessen Horowitz, PG Ventures, Promus Ventures and Silicon Valley Bank also participated in the round.
Founded in 2012, YourMechanic operates a platform that connects car owners with mechanics who make house calls, providing services like oil changes, brakes, belts, heating and air conditioning, scheduled maintenance and diagnostics.
The funding will support expansion across the US and into Canada.
Art Agrawal, co-founder and CEO of YourMechanic, said: “This commitment from leading investors is a reflection of our tremendous success to date and validation of our unique on-demand auto services brand that is redefining the way in which maintenance and repair services are delivered, discovered and booked.”
The round took YourMechanic’s overall financing to $32m, with earlier funding coming from investors including CrunchFund, Y Combinator, SV Angel, Andreessen Horowitz, Lerer Ventures and A-Grade Investments.