Source: NuBrakes ad
AUSTIN, TX – NuBrakes, the full-service platform that provides mobile automotive maintenance to consumers and operators, has announced a $ 9 million Series A funding round led by Canvas Ventures, with participation from investors existing companies, including Contrary Capital, Bling Capital and Automotive Ventures.
Mike Ghaffary, general partner of Canvas Ventures and former CEO of Eat24 and vice president of Yelp, and Ben Ling, general partner of Bling Capital and senior investor in Lyft, Instacart and Square, will both join the board of directors of NuBrakes. NuBrakes raised a total of $ 12 million and is one of the fastest growing automotive technology companies in the United States, with triple-digit growth rates and 8-digit annualized revenue.
Previously an expensive and time-consuming process at a dealership or repair shop, NuBrakes simplifies auto repair with convenient on-site maintenance service. Up to 30% more affordable than traditional auto stores, NuBrakes prides itself on its transparency and has a Net Promoter Score of 90 in an industry where the average is -13 and where 2 in 3 consumers are suspicious of their supplier. automotive services. NuBrakes seeks to revitalize middle-class jobs by providing conditions that inspire technicians to provide unparalleled service, including stable working hours, W-2 wages, stock options and benefits complete.
NuBrakes secures seed funding from VC groups
Present in nine markets in Texas, Georgia, Florida and Tennessee, NuBrakes recently expanded to a demand-driven service for fleet operators and field service organizations.
With their Series A funding, NuBrakes plans to more than double its team size, grow nationwide, and offer additional mobile services including oil changes, tire changes, upgrades. in focus, suspensions, etc.
In an industry first, NuBrakes will deploy a predictive telematics platform that can transform automotive service from a reactive and boring process to automated self-service for the customer, while supporting end-to-end maintenance. end of each vehicle through the company team. full-time, trusted technicians.
“Consumers and businesses spend $ 185 billion a year on auto maintenance, repair and tire services; this number is much higher when you factor in the opportunity cost of managing repairs, including lost revenue, and the time spent on each service for corporate fleets, ”said Walker Drewett, Founder and CEO of NuBrakes who launched the company in May 2019. “We imagine a world where you never take a vehicle to the shop again, where your vehicle is able to predict and schedule its own maintenance needs, and where a first-class service provider comes forward to provide the necessary services.
Building on their trusted mobile service for individual drivers, NuBrakes has grown into a full service solution for mobile fleet operators who maintain their vehicles. For the field workforce like plumbers, landscapers, delivery drivers and field technicians, NuBrakes connects to on-board telematics systems to provide proactive, scheduled service, maximizing uptime and enabling greater operational efficiency. NuBrakes’ Fleet Maintenance as a Service platform enables fleet operators to automate maintenance of their vehicles and organize all planning, inspection history, communications and payments in one place .
Kimani Frank, Owner of FastDash, an Amazon Delivery Service Partner, said, “NuBrakes saves us 15% on each repair, allows us to increase production from each vehicle and keeps our drivers safe. at any time. “