AutoLeap, a Toronto-based software launch, has risen $ 18 million to revolutionize the automotive repair industry in Series A financing.
The turn was led by Bain Capital Ventures with the participation of Threshold Ventures, which in turn led the turn to finance the seed. The new capital will bring in total funding for the $ 24.3 million start-up and expand its presence in the industry by encouraging the development of new features, improving the customer experience and attracting the greatest talent from around the world. Ajay Agarwal, a partner at Bain Capital Ventures, cited the startup’s impact, saying:
“Rameez and Steve have chosen a segment that has historically been left out of the high-tech industry. We have about 300,000 auto repair businesses in North America and we are very pleased to partner with AutoLeap to help these businesses rise to the next level.”
AutoLeap is a startup created in 2019 that provides a platform for managing cloud-based auto repair shops so that store owners can manage and grow their businesses more efficiently and cost-effectively. The startup is led by a creative team of repetitive entrepreneurs who launched, scaled and exited FieldEdge, one of the most popular platforms for managing rural services. Steve Lau, founder and CEO of AutoLeap, mentioned the startup’s mission:
“AutoLeap is on a mission to transform the lives of car repair shop owners. Blue-collar workers, who usually lack technology, are hard-working people who deserve better technology. By reducing the administrative burden by ten hours a week and earning more income, they can go about doing things like watching children’s baseball games and eventually start enjoying the fruits of their labor. ”
Today, thousands auto repair outlets still operate the manual process using calculations for billing and auto repairs, a view that is not very effective and increases the chances of errors. Through auto repair software, the launch of the software aims to make a significant contribution to the auto repair industry so that business owners can adapt their business models.