Jerry is a Palo Alto-based company offering an app that helps users manage everything to do with a car. Its core products include PriceProtect (insurance shopping and auto-loan refinance), DriveShield (trip safety scoring and retailer discounts), and GarageGuard (diagnostics, maintenance reminders, price estimates, and service recommendations). DriveShield rewards users for safe driving with discounts from retailers including America’s Tire, Curbee, Jiffy Lube, Valvoline Instant Oil Change, and FullSpeed Automotive brands. Led by co-founder and CEO Art Agrawal, the company says it will use the new funds to add free repair, maintenance, and safety services. In Q2 2022 Jerry raised an additional $110M in Series C2 equity and debt, bringing total funding to $242M after its C1 round. Jerry launched an AI-powered car insurance comparison service in January 2019 and has evolved into a mobile-first car ownership "super app" focused on helping consumers save time and money on auto expenses. The company is a licensed insurance broker and automates customized quotes from more than 45 carriers in about 45 seconds, enabling users to sign up and have prior policies canceled on their behalf. Jerry earns recurring revenue by taking a percentage of premiums when customers buy policies through its platform. It has quietly grown to nearly 1 million customers across the U.S. and reported revenue growth described as "very fast," with revenue surging 10x in 2020 versus 2019. Jerry also offers a similar product for home insurance but continues to prioritize car ownership verticals while expanding into financing, repair, warranties, parking, and maintenance marketplaces. Jerry, founded in 2017, launched a mobile-first car insurance comparison service in January 2019 that automates quotes using AI and machine learning. The company is a licensed insurance broker and says it has amassed nearly 1 million customers across the United States. Jerry generates recurring revenue by earning a percentage of premiums when customers purchase policies on its platform, and the company states 100% of its revenues are recurring. Its automation sources customized quotes from more than 45 carriers in about 45 seconds and completes the purchase and policy cancellations within the app. Jerry claims customers save on average about $800 per year on car insurance. Although currently focused on insurance, the company plans to use new capital to expand into other car-ownership categories such as repair, maintenance and warranties; the company reported revenue surged 10x in 2020 and sold a few million dollars of insurance in 2019, with current-year volumes on track to be three to four times last year’s numbers.

Total raised

$213M

Funding rounds

4

Latest round

Series C

Latest activity

Aug 2023