ServiceUp, a technology platform designed to streamline vehicle repair management for fleets and insurers, has announced a $55 million Series B funding round, bringing its total capital raised to $70 million.
The funding round was led by PeakSpan Capital, with additional participation from existing investors Hearst Ventures, Trestle Partners, Capital Midwest Fund, and Litquidity Ventures.
Founded in 2021, ServiceUp initially focused on managing vehicle repairs for individual drivers before expanding into the business-to-business (B2B) market. This strategic shift addressed the challenges faced by fleets and insurers, who often contend with outdated processes, disconnected vendors, and a lack of transparency in repair operations. ServiceUp aims to provide a centralized solution for these issues.
Brett Carlson, co-founder and CEO of ServiceUp, stated, “We’re not here to slightly improve vehicle repair management. We’re rebuilding it from the ground up. 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.”
The ServiceUp platform manages the entire repair process, from vehicle pickup to delivery. It offers real-time visibility and control through a centralized dashboard, which is designed to reduce delays and accelerate outcomes for collision, maintenance, and mechanical repairs. The company reports that its platform has reduced repair cycle times by over 30% for its customer base, which includes companies such as Zipcar, Voyager Global Mobility, Clearcover, and SIXT.
Jack Freeman, Partner at PeakSpan Capital, commented on the investment, saying, “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repair has remained one of the last great black boxes in the modern economy — fragmented, opaque, and bogged down by outdated workflows and siloed point solutions. 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 the newly secured capital, ServiceUp plans to expand its team, enter new markets, and accelerate the development of Connect. Connect is a Software-as-a-Service (SaaS) configuration designed to provide fleets and insurers with self-service control over repairs, allowing them to centralize workflows across their existing shop networks. This offering, alongside ServiceUp 360, which provides full-service repair coordination, forms a flexible SaaS + Managed Service model aimed at delivering faster cycle times, enhanced transparency, and reduced costs.