09 November 2019:
Wrench has raised $20 million in Series C round of funding. The funding round was led by Vulcan Capital. Madrona Venture Group, Tenaya Capital and Marubeni Corporation also participated in the funding round.
The company will use the fresh capital to accelerate it’s growth, to further spread its service-area footprint to untapped markets. The company also has plans to hire new executive-level employees, expand mechanic service offerings and add additional mechanics in key target markets.
Ed Petersen, CEO of Wrench, said, “”Busy consumers need a simple scheduling and vehicle diagnosis system to deliver repair and maintenance services without the hassle of the waiting room.”
Ed Petersen, added, “With full-time, trusted mechanics and world-class operations supporting both vehicle owners and the staff that serves them, Wrench has provided convenience, competitive pricing and unmatched quality repairs to over 100,000 vehicles. 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.”
Stuart Nagae, Director of Venture Capital at Vulcan Capital, said, “Consumers are embracing on-demand services that make their lives better. Wrench’s technology-enabled mobile mechanic service saves customers time and money – resulting in high customer satisfaction and lifetime value. With more than 270 million vehicles in the United States, the opportunity is enormous.”
Wrench is the mobile vehicle maintenance and repair solution that brings dealer-quality service directly to consumers and fleet customers across the U.S.
(Image – Wrench)