Car insurance shopper Jerry has closed a $75m Series C funding round led by Goodwater Capital at a $450m valuation.
Following the recent funding round, Jerry has brought its total funding to date up to $112m.
Founded in 2019, Palo Alto-headquartered Jerry is building a car ownership app that provides users with customised quotes from over 50 name-brand insurance carriers and allows them to shop for the best price, compare against current coverage and purchase without the need for a phone call.
The company claims it has served over 1 million customers in all 50 states and works with carriers such as Travelers, Progressive and Allstate. Jerry also has office locations in Toronto and New York.
According to Jerry, this recent funding round will support the launch of its super-app marketplace in vehicle financing, warranties, repair, maintenance and other money-saving services.
Jerry co-founder and CEO Art Agrawal said, “We’re helping our customers find savings on car expenses because we believe driving can be kept affordable and accessible. This $75m investment accelerates the development and refinement of additional automotive compare-and-buy marketplaces.â€
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