- Spiffy announced it raised $30 million in funding. These are the details.
Get Spiffy (Spiffy), an on-demand car care, technology, and services company, announced the closing of its Series C financing round, raised $30 million to drive growth across the business and fuel Spiffy’s private-label hardware and software-as-a-service offering for automotive dealers, Digital Servicing.
This funding round was led by Edison Partners with participation from existing investors Tribeca Venture Partners, Bull City Venture Partners, IDEA Fund Partners, Trog Hawley Capital, Attinger, Private Access Network, and strategic investors Shell Ventures, Goodyear Ventures, and Mann+Hummel. And the Presidio Group acted as exclusive advisor to Spiffy on the round, which included procuring automotive dealer groups as new strategic investors such as Bowers Automotive Group, Qvale Auto Group, and the Sewell family, among others.
Since launching in 2014, Spiffy has delivered over 2 million mobile automotive services nationwide and is currently delivering between 3,000 and 4,000 services daily across 45+ markets with over 500 W2 technicians and ASE-certified mechanics in over 350 vans nationwide. And by focusing on strategic initiatives across geographies, services, and lines of business, Spiffy delivered back-to-back years of more than 90% growth. With this investment, the company plans to go deeper in each of these areas by launching new franchise markets, rolling out Spiffy Tires and Spiffy Brakes, and introducing medium and heavy duty fleet services across the country.
Spiffy introduced Digital Servicing in 2020 to support Dealers going mobile by providing private label proprietary van upfit, a comprehensive software solution for a Dealerbranded app suite that includes an iPhone and Android consumer app, technician app, and manager/customer service dashboard, as well as best practice training.
Spiffy is essentially an on-demand technology and services company on a mission to disrupt the car care experience everywhere. Available in more than 45 markets, Spiffy offers complete car care services including wash and detail, oil change, tires, brakes, and other maintenance solutions. And every service is conveniently performed on site at fleets, office parks, and residences using the Spiffy Green system.
KEY QUOTES:
“Spiffy continues to impress with thoughtful execution of strategic initiatives. By listening to their customers across segments, they innovate with agility, and Edison is excited to deepen our partnership as the company positions itself as a market leader.”
— Lenard Marcus, General Partner at Edison Partners
“After building my last businesses on the thesis of products going digital through eCommerce, we wanted to explore the idea of services going digital next. Spiffy is scaling faster than any of my previous start-ups because we are meeting the quickly evolving preferences of convenience-oriented customers across our fleet and consumer verticals. I’m both humbled and grateful to the existing and new investors coming along with us on this ride and plan to deliver great results in return.”
— Spiffy CEO Scot Wingo
“Automotive industry leaders understand the growing need to meet customers ‘where they are’ and Spiffy is uniquely positioned to provide software, hardware, and mobile service delivery expertise to help the industry elevate customer experience and grow revenue.”
— Brodie Cobb, CEO of Presidio Group, who advised Spiffy on the round
“After seeing what Spiffy is building from the consumer app to green mobile service delivery, we are thrilled to invest in its growth. We look forward to seeing how Digital Servicing helps our industry evolve by delivering convenient and ecofriendly services to customers where they want.”
— Bruce Qvale, CEO of Qvale Auto Group
