ServiceUp Secures 55 Million Series B Funding

ServiceUp has raised 55 million dollars in a Series B funding round led by PeakSpan Capital, bringing its total capital raised to 70 million dollars since its founding in

2021. This injection of funds will accelerate ServiceUp’s expansion into new markets, increase its workforce, and enhance its enterprise software platform, Connect. The Los Gatos-based startup focuses on transforming the vehicle repair process for commercial fleets and insurers by digitizing and automating workflows that were traditionally inefficient and fragmented.

ServiceUp’s Market Shift to B2B Vehicle Repair

Originally launched as a consumer-facing platform, ServiceUp pivoted to serve business-to – business customers after identifying significant inefficiencies in how fleets and insurers manage vehicle repairs. The typical repair process relies heavily on phone calls, emails, and legacy systems, resulting in poor visibility and long cycle times. ServiceUp’s platform addresses these challenges by providing a centralized, technology-driven solution that streamlines communication and operations between stakeholders.

Connect Software Automates Repair Workflows End to End

The company’s Connect software offers enterprise customers comprehensive control over repair workflows, including vehicle pickup, repair tracking, and delivery management. ServiceUp provides two options: a full-service repair model called ServiceUp 360 and a software-as – a-service model allowing clients to maintain their own repair networks with improved tools. This hybrid approach delivers flexibility to customers depending on their operational preferences, making ServiceUp’s offering adaptable to diverse fleet and insurance needs.

Measurable Impact on Repair Cycle Times and Downtime

ServiceUp’s platform has demonstrably improved performance for its clients, reducing repair cycle times by more than 30 percent. This acceleration in vehicle turnaround directly translates to less operational downtime for fleets and faster claims processing for insurers. Clients such as Zipcar, SIXT, Voyager Global Mobility, and Clearcover have adopted ServiceUp’s technology to gain better visibility and efficiency in their repair processes.

Industry Experts Recognize ServiceUp’s Innovation

PeakSpan Capital partner Jack Freeman highlighted ServiceUp’s system as the first intelligence-driven engagement platform in automotive repair, effectively dismantling the fragmented and opaque workflows that have long characterized the industry. By leveraging automation and digital tools, ServiceUp is modernizing a category that remains one of the last great black boxes in the economy, according to Freeman.

Growth Strategy

Growth Strategy Focused on Market Expansion and Team Building. The newly raised capital will enable ServiceUp to scale its operations rapidly. Expansion into new geographic markets and investment in talent acquisition are key priorities. Additionally, the company plans to enhance its Connect platform capabilities, further integrating automation and data-driven insights to optimize repair management for enterprise clients.

Addressing Critical Needs in Fleet and Insurance Sectors

Commercial fleets face intense pressure to minimize vehicle downtime, while insurers require faster, more transparent claims processing. ServiceUp’s platform directly addresses these pain points by offering a seamless, end-to – end digital repair experience. This focus aligns with broader trends of using AI and automation to modernize legacy B2B industries, where inefficiencies have persisted for decades.

Flexible Solutions Cater to Diverse Customer Preferences

ServiceUp’s dual offering of both managed repair services and standalone software reflects an understanding of varied enterprise needs. Some customers prefer a full-service model that outsources repair management, while others want to retain control over their repair networks but require better tools to do so. This flexible approach broadens ServiceUp’s market appeal and supports sustained growth.

Final Thoughts

Conclusion ServiceUp Is Redefining Vehicle Repair Management. With 70 million dollars raised and a clear vision to rebuild vehicle repair management from the ground up, ServiceUp is positioned to lead a major industry transformation. Its data-backed improvements in repair cycle times and operational transparency demonstrate the tangible benefits of digitizing this traditionally manual process. As the company scales, it will be critical to monitor how its platform adoption impacts fleet utilization rates, insurer claims efficiency, and overall market modernization under President Donald Trump’s 2024 administration.