Wrench operates a mobile car-repair service that sends mechanics to customers’ locations to perform repairs and maintenance. The company also offers roadside towing, vehicle detailing, tire installation and pre-purchase vehicle inspections. SEC filings show the startup has recently raised capital, indicating ongoing fundraising activity. The filings indicate $40 million raised in debt and $14.2 million raised in equity. Wrench is backed by auto giant Bridgestone and unnamed venture capital firms. The company declined to comment to GeekWire about the raise. Rising vehicle repair costs, including for electric cars, are a market context noted in reporting. Wrench operates a mobile vehicle maintenance and repair platform that schedules full-time, ASE-certified mechanics to travel to customers' chosen locations and service cars and trucks of varying makes and models. Every repair or service includes a one-year, 12,000-mile warranty and an extensive vehicle inspection with a report delivered to the customer. The company serves both consumer and fleet customers and has provided repairs to over 100,000 vehicles to date. Wrench completed the acquisition of Canada-based Fiix, which had served more than 80,000 customers, a move that expands Wrench's North American reach and strengthens its fleet services business. Led by CEO Ed Petersen, the company plans to use recent funding to accelerate growth, expand its service-area presence, hire executive-level employees, broaden mechanic service offerings, and add mechanics in key target markets. Wrench is based in Seattle, WA. Wrench operates a marketplace that connects vetted mechanics/technicians with customers so repairs can be completed at offices, parking garages or driveways, and it guarantees parts and labor for one year or 12,000 miles. The company currently runs in eight states and major cities including Seattle, Phoenix, Dallas, Austin, Portland, Las Vegas, Los Angeles, San Francisco and Denver. Wrench reports roughly 50,000 vehicles on its platform and about 100 mechanics across all markets, and the company now employs 125 people after acquiring rival Otobots. It says it can save customers as much as 30% versus dealer service shops and estimates the U.S. car repair market at $70 billion. Wrench plans to use the new funding to continue city expansion and to target new segments such as small fleets and corporate benefit programs that let employers offer auto repair services to employees. The company was founded in 2016 and offers transaction-based revenue with a marketplace fee structure. Wrench operates an app that sends certified auto mechanics to a customer’s location for tuneups and a range of a la carte repairs. For heavier jobs such as transmission or rim repair it refers drivers to a partner network rather than attempting those jobs in customers’ driveways. The company is rolling out a subscription product for regular upkeep and also serves corporate clients, including a partnership with Lyft in Seattle for driver inspections. Wrench positions itself as a managed service that owns the customer experience from request through payment. The startup plans to further saturate markets where it already operates—Seattle, San Diego, Portland and Phoenix—and to expand into a few additional western markets without pursuing a rapid land grab. Financially, the company recently completed a $4 million Series A led by Madrona Venture Group. Wrench operates a consumer-facing platform that allows customers to schedule mechanics to come to locations such as offices, parking garages or driveways (it does not service cars parked on the street). The company is in beta and is operating in Seattle, Bellevue, Kirkland and Mercer Island. Wrench employs 10 people and currently uses three mechanics, and it is actively recruiting additional mechanics via Craigslist and Indeed. Mechanics must have at least three years’ experience, be Automotive Service Excellence certified, and undergo background checks. The service covers roughly 80% of typical automotive work outside a shop, from oil changes to brake and timing-belt repairs, and Wrench offers a 12-month/12,000-mile limited warranty. Founders include Ed Petersen and a team that previously founded and sold Intelius and TalentWise.

Total raised

$91M

Funding rounds

6

Latest round

Equity

Latest activity

Aug 2023