Mobile Mechanic Company YourMechanic Raises $10.2 Million

By Noah Long ● October 11, 2018

YourMechanic, a Mountain View, California-based company that provides mobile car repair and maintenance services has raised $10.2 million in funding, according to Xconomy. The auto mechanics are able to provide repairs where the car is located such as the driveway of the car owner.

Launched in 2012, YourMechanic started out by helping individual car owners connect with mechanics who would provide rates lowers than car repair shops. YourMechanic CEO Anthony Rodio told Xconomy that more than 80% of the company’s revenue still comes from individual customers. And Rodio is expecting transportation fleets to deliver 50% of its revenue within the next three years. Last year, YourMechanic had actually started its own fleet-oriented services.

The $10.2 million is part of a Series B round initiated from 2016 bringing the total fundraising to $38.5 million. The new funding round was led by Royal Bank of Canada Ventures. SoftBank Capital, Verizon Ventures, American Family Ventures, Data Point Capital, and former GM chairman and CEO Rick Wagoner also participated in this round.

The funding will be used for landing more work from fleet managers and expanding further in Canada. Currently, YourMechanic is available in more than 5,000 cities in the US and Canada. And YourMechanic checks the background of potential mechanics to verify their skills and evaluate their customer relations skills.

The YourMechanic app connects mechanics and customers, schedules the work, and also manages the work orders the customer’s sign once the repair work is done. And credit card numbers are shared with just the YourMechanic app.

As of right now, YourMechanic does not handle tire replacements or collision damage repair. Nor does it handle transmission work.

However, YourMechanic offers 800 different repair maintenance and diagnostic services that cover about 90% of what usually goes wrong with a car. The most common demand is a breakdown diagnosis, which has a cost of $70. And customers will receive a discount if they proceed with the job after diagnostic visits.