Jerry – a company that is known for its AI-powered PriceProtect services to help car owners find shockingly good insurance rates and refinance car loans with ease – recently announced that it had doubled its free services for car owners with the addition of GarageGuard and DriveShield.
Through car diagnostic and repair estimate tools, GarageGuard demystifies the details and costs of maintenance and repair services. And drivers can consider this a WebMD for their car (with prices and recommended service providers). Jerry also provides customers discounts on repairs and services from new partners, including America’s Tire, Curbee, Jiffy Lube, Valvoline Instant Oil Change, and FullSpeed Automotive’s family of brands, including Grease Monkey Oil Changes & More, SpeeDee Oil Change & Auto Service, Kwik Kar, Uncle Ed’s and American Lube Fast.
Plus, GarageGuard helps drivers maintain the value of their vehicles, makes them confident when purchasing vehicle and repair services, and provides peace of mind to car owners through maintenance and recall alerts.
DriveShield enables hundreds of thousands of customers to become safer drivers through its driving score tracker and compelling rewards program. And the free service keeps drivers’ costs down by helping them avoid accidents and subsequent expenses from repairs costs and insurance rate hikes, all while keeping their driving data secure (Jerry never sells data).
This app expansion was accelerated after Jerry quietly secured an additional $110 million in equity and debt financing in Q2 2022. And the Series C2 equity financing was led by existing investor Park West Asset Management.
This oversubscribed up round also included reinvestment from Goodwater Capital, Highland Capital Partners, and Plug And Play Ventures, among other existing investors. TriplePoint Capital led the debt facility and also invested in the equity financing. And the new financing followed Jerry’s C1 round, bringing total funding to $242 million.
The AllCar app helps four million Americans handle everything car. And Jerry customers find shockingly good insurance rates fast, refinance car loans with ease, track their driving score to stay safe on the road, and get transparency into maintenance and repair costs.
KEY QUOTES:
“Most Americans say car maintenance and repairs cause them more confusion and distrust than medical bills, and nearly 90% suspect they have been overcharged for work on their car. GarageGuard empowers car owners to quickly make informed decisions about when and where to have work done and how much to pay.”
“Most of the hassles that come with being a car owner need reinvention. Jerry is addressing those unmet needs in the market, helping Americans make good decisions about their cars every day. Jerry gives drivers confidence, whether it’s from saving money on their car insurance, paying the right price for necessary maintenance, getting the lowest APR on their car loan or learning to more safely drive.”
― Art Agrawal, co-founder and CEO at Jerry
“Jerry is delivering on its superapp promise of serving drivers’ needs beyond insurance by entering the financing, maintenance and repairs, and safety service categories. Leveraging AI to deliver these data-backed, high touch services efficiently meets the demand of American drivers. This app is consistently adding value for customers and building long-term relationships with car owners nationwide.”
― Corey Mulloy, General Partner at Highland Capital Partners
