ForeverCar operates a technology platform that sells vehicle service contracts directly to consumers and through partner brands. The platform powers transactions on behalf of Liberty Mutual, CUNA Mutual Group and other partners. Founded in 2012 by CEO Mark Hodes and based in Chicago, the company serves consumers with out-of-warranty vehicles. ForeverCar recently closed a $15M debt and equity financing round to support growth. The company will use the proceeds to capitalize a new entity, ForeverCar Consumer Credit, LLC, and to expand direct-to-consumer and business-to-business marketing, sales, and servicing capabilities. The financing combines follow-on equity from existing investors and a debt facility to support its consumer-friendly financing solution. ForeverCar is a Chicago-based marketplace that displays quotes and enables car owners to purchase car repair protection plans. Led by CEO Mark Hodes, the online service gives full visibility into what’s covered. It offers comprehensive coverage across the U.S., with many plan options providing the equivalent of a manufacturer's bumper-to-bumper warranty. The company raised $10m in a Series A to fund growth. ForeverCar intends to use the proceeds to expand its reach to power transactions for credit unions and banks, auto insurers, auto shopping portals and auto dealers.

Total raised

$25M

Funding rounds

3

Latest round

Equity

Latest activity

Sep 2017