Chaiz, an Austin-based marketplace for extended car warranties, has raised $3.7m in seed funding as it looks to expand its coverage options.
The round was led by ResilienceVC, with participation from Anker Capital, Automotive Ventures, Everywhere Ventures, FJ Labs, Monte Carlo Capital, Never Lift Ventures, RedBlue Capital, and Springtime Ventures, according to the Coverager.
The Texan firm is set to utilise the funds to bolster its product to include recreational vehicles (RVs), motorsports, and home appliances. This expansion aims to broaden Chaiz’s market reach and provide comprehensive protection solutions for a wider range of consumer needs.
Chaiz, founded in 2021, claims to be the first online marketplace for vehicle protection, enabling consumers to research, compare, and buy protection plans online with just a few clicks.
Chaiz Co-Founder and CMO Ryan Hartman emphasised the company’s commitment to ethical marketing and transparent pricing. He said, “We believe everyone should have breakdown protection for their car after their factory warranty expires. Historically, this product has been marketed unethically with unnecessarily high prices. We’ve changed that. Using Chaiz, users can get transparent prices, research several providers, and buy online hassle-free once they find the perfect plan for their vehicle and budget.”
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