What is ServiceUp?
Founded in 2021, ServiceUp initially focused on individual car repairs before pivoting to address the complex needs of the B2B market. The company now serves as a critical repair partner for leading fleets, insurers, and repair shops nationwide. ServiceUp addresses inefficiencies in the existing repair ecosystem, characterized by outdated processes and a lack of vendor visibility, by providing a streamlined, technology-driven solution. This strategic shift has positioned ServiceUp as a key player in optimizing repair management for large-scale operations.
How much funding has ServiceUp raised?
ServiceUp has raised a total of $69.5M across 2 funding rounds:
Series A
$14.5M
Series B
$55M
Series A (2022): $14.5M with participation from Tiger Global and Hearst Ventures
Series B (2025): $55M led by Trestle Capital Partners, Hearst, Capital Midwest Fund, Litquidity, and PeakSpan Capital
Key Investors in ServiceUp
Tiger Global
Tiger Global is an independent contract manufacturing and sourcing group, indicating a potential interest in operational efficiency and supply chain aspects of ServiceUp's business.
Hearst Ventures
Hearst Ventures, the venture capital arm of a diversified media and information company, likely brings strategic insights into market expansion and digital transformation for ServiceUp.
Trestle Capital Partners
Trestle Capital Partners, specializing in M&A and capital markets advisory for middle-market companies, suggests a focus on ServiceUp's financial strategy and potential future consolidation or growth opportunities.
What's next for ServiceUp?
The recent major strategic investment signals ServiceUp's readiness for accelerated growth and market penetration. With substantial capital infusion, the company is poised to enhance its technological infrastructure, expand its network of repair partners, and potentially explore new service verticals within the automotive repair and fleet management industries. This funding will likely fuel strategic initiatives aimed at solidifying its leadership position and further disrupting traditional repair processes through innovation and operational excellence.
See full ServiceUp company page
