ServiceUp Secures $55 Million Series B Funding for Growth
ServiceUp has raised $55 million in Series B funding led by PeakSpan Capital, bringing its total funding to $70 million since
2021. This capital infusion is designed to accelerate ServiceUp’s expansion into new markets, grow its team, and enhance its flagship enterprise software, Connect. The Los Gatos-based company aims to transform how commercial fleets and insurers manage vehicle repairs by replacing inefficient legacy systems with a fully digitized, automated platform. The Series B funding reflects investor confidence in ServiceUp’s innovative approach to a $300 billion automotive repair market historically plagued by delays and opacity.
Using Connect Software to Automate Vehicle Repairs
ServiceUp’s Connect platform digitizes the entire vehicle repair workflow, including pickup, repair tracking, and delivery management. It offers a centralized dashboard for enterprise customers to manage mechanical, collision, and routine maintenance repairs efficiently. Customers can choose between ServiceUp’s full-service repair model, ServiceUp 360, or the SaaS-based Connect platform that integrates with their existing repair networks. This dual-model approach provides flexibility, catering to companies that want either an end-to – end solution or improved control over their repair processes. According to ServiceUp, clients have experienced repair cycle time reductions exceeding 30%, significantly improving vehicle uptime and operational efficiency.
Addressing Inefficiencies in Fleet and Insurance Repairs
Before pivoting to B2B, ServiceUp started as a consumer-facing platform but identified systemic inefficiencies in commercial fleet and insurer repair management. Traditionally, these processes rely on fragmented communication via phone calls and emails, leading to long cycle times and limited visibility. ServiceUp’s technology-driven platform eliminates these pain points by automating workflows and providing real-time data transparency. Jack Freeman, partner at PeakSpan Capital, highlighted that ServiceUp has created the first intelligence-driven system of engagement in the automotive repair space, fundamentally changing how stakeholders connect and operate.
Expanding Market Reach and Team Growth by Q4 2025
ServiceUp plans to use the new funding to expand into additional geographic markets and scale its workforce. With a focus on accelerating product development and customer acquisition, the company aims to capture a larger share of the commercial fleet and insurance repair market. As of mid-2025, ServiceUp’s customer roster includes major brands such as Zipcar, SIXT, Voyager Global Mobility, and Clearcover, a digital auto insurer. These clients rely on ServiceUp’s platform to reduce downtime, speed up claim settlements, and increase operational transparency—key drivers for growth in a market valued at hundreds of billions annually.
Offering Flexible Solutions to Meet Diverse Customer Needs
ServiceUp’s hybrid approach—offering both managed repair services and standalone software—addresses the varied preferences of enterprise clients. Some customers prefer ServiceUp 360’s fully managed repair services, while others opt for Connect to maintain control over their existing repair networks but benefit from advanced automation tools. CEO Brett Carlson emphasized the importance of choice, stating that this flexibility helps ServiceUp accommodate different operational models and scales. This strategy positions ServiceUp to appeal broadly across the fleet and insurance sectors, which face increasing pressure to minimize vehicle downtime and streamline claims processing.
Leading Tech
Leading Tech-Driven Modernization of Vehicle Repair Industry. ServiceUp is part of a growing wave of startups leveraging automation and AI to disrupt legacy B2B industries. The vehicle repair sector, long characterized by outdated workflows and siloed systems, is ripe for transformation. PeakSpan Capital’s Jack Freeman called this a “massive, broken category, ” underscoring the urgency for modernization. ServiceUp’s technology-driven platform is redefining how fleets and insurers interact with repair vendors, delivering measurable improvements such as 30% faster repair cycle times. As the U. S. automotive ecosystem evolves under President Donald Trump’s administration, which favors innovation and industrial growth, ServiceUp’s rapid scaling exemplifies the potential for tech to overhaul traditional markets.
Establishing Key
Establishing Key Milestones for ServiceUp Growth by End of
2025. To maximize the impact of its Series B funding, ServiceUp should adhere to strategic milestones with clear deadlines. First, geographic expansion into three new major markets should be completed by Q3 2025 to capture untapped customer bases. Second, the engineering and sales teams should grow by 40% by Q4 2025 to support product enhancements and customer onboarding. Third, Connect platform upgrades incorporating AI-powered repair estimations and predictive analytics must launch by Q4 2025, improving accuracy and reducing manual intervention. Finally, ServiceUp should secure at least five additional enterprise clients with fleets exceeding 5, 000 vehicles by year-end to demonstrate scalability and market penetration.
Measuring Success
Measuring Success Through Data-Driven KPIs and Customer Outcomes. To ensure continued momentum, ServiceUp must track key performance indicators such as repair cycle time reduction, customer retention rates, and operational downtime decreases. The company’s claim of over 30% cycle time improvements should be validated with quarterly reporting from enterprise clients. Additionally, monitoring customer satisfaction scores and software adoption rates will help guide product development. Demonstrating quantifiable ROI to insurers and fleet operators will be critical for sustaining growth and attracting future investment. By aligning these metrics with its strategic roadmap, ServiceUp can cement its position as the leading tech platform disrupting vehicle repair management.
