Jerry, a service known for its PriceProtect technology that helps car owners find optimal insurance rates and refinance loans, has doubled its offerings.
The company has raised $110m in its Series C2 equity financing round. The investment was led by Park West Asset Management, with reinvestment from Goodwater Capital, Highland Capital Partners, and Plug And Play Ventures. The debt facility was led by TriplePoint Capital, who also invested in the equity financing.
Jerry’s platform offers a variety of tools and services for car owners. The new GarageGuard tool simplifies maintenance and repair details, providing cost estimates and partner discounts. Think of it as a WebMD for cars. DriveShield, on the other hand, assists customers in becoming safer drivers through its driving score tracker and rewards program, while maintaining the security of their driving data.
The newly acquired funding will be used to accelerate the expansion of the app, including its latest services GarageGuard and DriveShield. These innovations empower car owners to make informed decisions about maintenance and driving habits, contributing to overall convenience and safety.
With a reach extending to 4 million Americans, Jerry’s AllCar app provides an all-in-one solution for car owners. From finding competitive insurance rates to refinance options and now including transparency into maintenance and repair costs, Jerry continues to innovate and address the needs of American drivers.
Jerry co-founder and CEO Art Agrawal said, “Most of the hassles that come with being a car owner need reinvention. Jerry is addressing those unmet needs in the market, helping Americans make good decisions about their cars every day.” Highland Capital Partners General Partner Corey Mulloy also expressed his thoughts, “Leveraging AI to deliver these data-backed, high touch services efficiently meets the demand of American drivers. This app is consistently adding value for customers and building long-term relationships with car owners nationwide.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
