Source: NuBrakes announcement
AUSTIN, Texas — NuBrakes, the full-service platform that delivers mobile auto maintenance for consumers and operators, announced a $9 million Series A funding round led by Canvas Ventures, with participation from existing investors including Contrary Capital, Bling Capital, and Automotive Ventures.
Mike Ghaffary, General Partner at Canvas Ventures and former CEO of Eat24 and VP at Yelp, and Ben Ling, General Partner at Bling Capital and early investor in Lyft, Instacart, and Square, will both be joining NuBrakes’ Board of Directors. NuBrakes has raised a total of $12 million and is one of the fastest-growing auto tech companies in the United States, with triple-digit growth rates and 8 figures in 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 percent more affordable than brick-and-mortar auto shops, NuBrakes prides itself on transparency and boasts a 90 Net Promoter Score in an industry where the average is -13, and 2 of 3 consumers distrust their auto service provider. NuBrakes seeks to revitalize middle class jobs by providing terms that incentivize technicians to deliver unmatched service, including stable work hours, W-2 salaried wages, company stock options and full benefits.
NuBrakes Gets Seed Funding From VC Groups
Operating in nine markets across Texas, Georgia, Florida and Tennessee, NuBrakes has recently expanded into a demand-side service for fleet operators and field service organizations.
With their Series A funding, NuBrakes plans to more than double the size of its team, expand nationwide, and offer additional mobile services including oil changes, tire changes, tune-ups, suspension, and more.
In an industry first, NuBrakes will deploy a predictive telematics platform that can transform auto service from a reactive and annoying process to an automated self-service for the customer, while owning the end-to-end servicing of each vehicle through the company’s team of trusted, full-time technicians.
“Consumers and businesses spend $185 billion per 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 time spent on each service for business fleets,” said Walker Drewett, Founder and CEO of NuBrakes who started the company in May 2019. “We envision a world where you never take a vehicle to the shop again, where your vehicle is capable of predicting and scheduling its own service needs, and a first-class service provider shows up to deliver the services needed.”
Building on their trusted mobile service for individual drivers, NuBrakes has become a full service solution for mobile fleet operators servicing their vehicles. For workforces in the field like plumbers, landscape crews, delivery drivers and field service workers, NuBrakes connects with on-board telematics systems to deliver proactive and scheduled service, maximizing uptime and enabling greater operational efficiencies. NuBrakes’ Fleet Maintenance as a Service platform allows fleet operators to automate their vehicle maintenance, and organize all scheduling, inspection history, communications and payments in one location.
Kimani Frank, Owner of FastDash, an Amazon Delivery Service Partner shared that “NuBrakes saves us 15% on each repair, enables us to increase production output of each vehicle, and ensures the safety of our drivers at all times.”