The mobile vehicle maintenance and repair company Wrench has landed a $20 million “Series C” funding round led by Vulcan Capital. Financial terms of the funding were not disclosed. The funds will be used to accelerate Wrench’s growth, the company announced in a Nov. 7 press release, allowing Wrench to …
• Spread its service-area footprint to untapped markets.
• Hire new executive-level employees.
• Expand mechanic service offerings.
• Add additional mechanics in target markets.
Using Wrench, drivers can schedule vehicle maintenance and repair service with full-time, ASE-certified mechanics who travel directly to the customer’s destination of choice. Each repair or service includes a one-year, 12,000-mile warranty.
For the funding round, Vulcan Capital received additional participation from the Madrona Venture Group, Tenaya Capital and Marubeni Corp.
(U.S. parts distributors XL Parts and The Parts House also are affiliated with Marubeni Corp., as both distributors are owned by Marubeni Automotive Aftermarket Holdings).
The funding comes on the heels of Wrench’s acquisition of the Canada-based mobile automotive service startup Fiix.
“As Wrench continues to grow and expand both our service offerings and footprint, we look to bring our convenient solution to many more consumers and commercial fleets across the country,” CEO Ed Petersen said.