Mobile Repair Raises $20 Million in Funding
November 19, 2019—Wrench, a mobile auto repair startup, announced this week it has raised $20 million in its most recent round of funding, led by Vulcan Capital, reports The Seattle Times. Longtime investor Madrona Venture Group, along with Tenaya Capital and Marubeni Corp., participated as well.
In just three years, Seattle-based Wrench has expanded into all 50 states, swallowed two similar startups and raised more than $30 million. The company’s app allows vehicle owners to book house calls for such problems as battery and radiator replacements, oil changes and brake jobs.
The funding will drive growth for a company that has been expanding at rapid pace. Since it was founded in Seattle in 2015, Wrench has crept into big cities from Phoenix to Miami, and plans to expand into Canada after it acquired Fiix and its 80,000 customers last month.
Of Wrench’s 270 employees, about 100 are mechanics certified by the National Institute for Automotive Service Excellence, scattered across the country, who have worked on around 10,000 vehicles collectively.