ServiceUp Raises $55 Million in Series B Funding to Transform Vehicle Repair Management

Business Wire

LOS GATOS, Calif.--(BUSINESS WIRE)--
ServiceUp, the all-in-one tech platform transforming how fleets and insurers manage vehicle repairs, has raised $55 million in Series B funding. The round was led by PeakSpan Capital, with participation from existing investors Hearst Ventures, Trestle Partners, Capital Midwest Fund, and Litquidity Ventures. This brings the company’s total funding to date to $70 million.

Founded in 2021, ServiceUp initially started by managing repairs for individual drivers with a simple model: pick up the car, get it repaired, and return it hassle-free. They quickly realized there was a bigger problem and greater opportunity, so they shifted their focus. Fleets and insurers were stuck with outdated processes, disconnected vendors, and no real visibility into repairs. That gap led to a bold expansion into the B2B market. Today, ServiceUp is the trusted repair partner for leading fleets, insurers, and shops across the country.

"We’re not here to slightly improve vehicle repair management. We’re rebuilding it from the ground up,” said Brett Carlson, co-founder and CEO of ServiceUp. “Every delay, every unknown, every wasted hour — we’re eliminating all of it with tech and automation. This raise gives us the fuel to move faster, go bigger, and keep pushing the auto repair industry forward."

Managing the entire repair process is one of the most painful parts of running a fleet or processing claims — shops lack updates, data is scattered, and repairs stall with no clear owner. ServiceUp solves that by managing the entire process from pickup to delivery, while giving teams real-time visibility and control.

The platform delivers efficiency by eliminating manual follow-ups, provides transparency through live repair tracking, and offers oversight with a centralized dashboard. Collision, maintenance, and mechanical repairs all flow through one system designed to reduce delays and speed up results. ServiceUp is trusted by numerous leading companies, including Zipcar, Voyager Global Mobility, Clearcover, and SIXT. Across its customer base, ServiceUp has reduced repair cycle times by over 30%. This improvement means vehicles are back on the road more quickly, ensuring that operations continue to run smoothly and efficiently.

“Auto repair has remained one of the last great black boxes in the modern economy — fragmented, opaque, and bogged down by outdated workflows and siloed point solutions,” said Jack Freeman, Partner at PeakSpan Capital. “It’s a system that frustrates fleet operators, drains productivity, and kills margin for insurers and service providers. ServiceUp is dismantling that model. They’ve built the first truly intelligence-driven system of engagement for the automotive repair space — redefining how the entire ecosystem connects, communicates, and operates.”

With this latest capital raise, ServiceUp will grow its team, enter new markets, and accelerate development of Connect — a SaaS configuration that gives fleets and insurers self-service control over repairs. Connect centralizes workflows across a customer’s existing shop network, while ServiceUp 360 provides full-service repair coordination. Together, they offer a flexible SaaS + Managed Service model that delivers faster cycle times, greater transparency, and lower costs.

ABOUT SERVICEUP

ServiceUp is modernizing the vehicle repair management industry by offering an all-in-one platform designed specifically for fleets and insurance carriers. Its comprehensive suite streamlines the entire repair process from vehicle pick-up to drop-off, ensuring quicker turnaround times, enhanced transparency, and reduced downtime for clients. With the flexibility to integrate their own repair networks or utilize ServiceUp’s managed services, businesses can effortlessly navigate repairs and maintenance while benefiting from centralized management. By dramatically improving repair cycles and vehicle uptime, ServiceUp provides unparalleled visibility and actionable insights, empowering clients to manage their operations more efficiently than ever before.

ABOUT PEAKSPAN CAPITAL

PeakSpan Capital is a growth equity firm based in New York City and San Mateo. Having partnered with over 50 high-growth software businesses and with $2.5B+ in AUM, PeakSpan's mission is to be the partner of choice for growth-stage entrepreneurial teams who are building amazing software targeted at business buyers of all sizes. PeakSpan combines deep domain expertise within a select number of themes with a proprietary technology platform providing visibility into company and market performance to help disruptive entrepreneurs drive resilient, risk-adjusted value creation.