Viernes 22 de Septiembre 2017

Wrench, a Fast-Growing, Disruptive Car Repair Start-up, Adds Fuel for Rapid Expansion

Sigue a Para Ti Mujer en Facebook

Madrona Venture Group Does Another Turn with Wrench, Leads $4mm
Series A

SEATTLE–(BUSINESS WIRE)–Wrench,
a start-up that is taking the pain out of car repair, announced today
the successful closing of its $4 million Series A financing round led by
Madrona Venture Group, marking a period of rapid growth and expansion.
Wrench, which launched last June, has successfully expanded from greater
Seattle to three other western cities and is expecting to further expand
both its services and service areas with the new funding.

Wrench is a new approach to car repair that makes the whole experience
easy, convenient and affordable. Using an app or website, car owners can
schedule a repair, receive a quote and specify a repair location. A
Wrench-certified and background-checked mechanic services the vehicle at
the customer’s home or office location, saving people on average 2.4
hours of travel and wait time. Wrench services all types of cars and
trucks and provides dealer-quality service at a competitive price,
backed by a one-year, 12,000-mile guarantee on both parts and labor.

According to Wrench CEO Ed Petersen: “Wrench’s mission to remove the
hassle of car ownership is resonating with consumers. Our services in
Seattle, Phoenix, San Diego and Portland have loyal and growing customer
bases – who doesn’t want to save time, money and hassle in dealing with
both routine and major car repairs? We will use the funding to rapidly
expand our services and footprint.”

“US consumers spend more than $60 billion annually on car repairs and
maintenance and the service model hasn’t changed meaningfully since the
invention of the oil change shop,” said Len Jordan, managing director,
Madrona Venture Group. “Wrench applies modern mobile, internet commerce
and data analytics techniques to this market and delivers a physical
service that consumers need multiple times a year. We backed Ed and his
team in the Seed round and are excited to lead this round and put more
capital to work in building this business.”

About Wrench

Wrench is an innovative on-site car repair service that promises to
disrupt the $60 billion+ car repair industry. All Wrench mechanics go
through background checks and are certified. Wrench is generally on par
price-wise with independent car repair shops and as much as 30% less
expensive than the service bays of car dealerships. All Wrench repair
work is backed by a 12-month and 12,000-mile guarantee. For more
information or to make an appointment, go to
www.getwrench.com
or download the Wrench mobile app.

Contacts

For Wrench
Ralph Fascitelli, 206-369-2612
ralph@resonance-pr.com