AutoLeap Shop Software Raises $8M in Funding
Dec. 16, 2020—AutoLeap, a Toronto-based startup, has secured $8 million CAD in seed round funding for its automotive repair shop software, reports BetaKit.
Companies that participated in this round of funding included Maple VC, Global Founders Capital, Codename Ventures, and San Francisco 49ers legend Joe Montana, through his venture capital firm Liquid2 Ventures. Angel investors in the software also include former General Motors CEO Rick Wagoner, Shift Technologies co-CEO George Arison, and former Bridgestone executive Ned Aguilar.
The company, which was founded in 2019 by Steve Lau and Rameez Ansari, has designed its software to help automotive repair shops organize operations, schedule jobs, conduct digital inspections, manage technicians and invoice customers through one tool.
“There’s a ton of software out there for the space, but the software is either too deep, and as a result, clunky, or it’s not deep enough, and it’s really easy to use but has no depth whatsoever,” Ansari told the outlet. “There’s not a lot of teams that have that attention to detail, but that’s where we’ve been able to combine this depth with an incredible ease of use.”
AutoLeap has not yet gone to market and is still in the process of developing its software, and will be conducting quality assurance reviews every day during a two-week product release process. The company's seed funding will be used to continue developing the software and the foundation of the business, including its sales and marketing efforts.