The mobile car repair network YourMechanic says it has landed $10.10 million in “Series B1” funding led by institutional and individual investors, including the Royal Bank of Canada (RBC), SoftBank Capital, Verizon Ventures, American Family Ventures, Data Point Capital, and former General Motors chairman and CEO Rick Wagoner, among others. (Wagoner also is an advisor to YourMechanic). Mountain View, CA-based YourMechanic is said to have secured $35.30 million in funding to date.
Management plans to use the new funds to accelerate the international expansion of YourMechanic’s mobile car repair platform — including expansion into Canada — as well as to build out additional services for rental, rideshare, corporate and government fleet managers.
YourMechanic connects mobile technicians to customers for vehicle repair work at their homes or offices, operating seven days a week. According to the company, YourMechanic has mechanics in more than 5,000 cities across the United States and now Canada. And, the company’s fleet program has reportedly doubled YourMechanic’s customer base in the rental, rideshare, corporate and government markets over the last 12 months.