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{"id":28970,"date":"2023-04-11T22:16:47","date_gmt":"2023-04-11T22:16:47","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/04\/11\/autoleap-now-with-30m-series-b-accelerates-saas-approach-to-auto-repair-operations\/"},"modified":"2023-04-11T22:16:48","modified_gmt":"2023-04-11T22:16:48","slug":"autoleap-now-with-30m-series-b-accelerates-saas-approach-to-auto-repair-operations","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/04\/11\/autoleap-now-with-30m-series-b-accelerates-saas-approach-to-auto-repair-operations\/","title":{"rendered":"AutoLeap, now with $30M Series B, accelerates SaaS approach to auto repair operations"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/11\/autoleap-saas-auto-repair-operations\/<\/a><\/br>
\nAutoLeap, now with $30M Series B, accelerates SaaS approach to auto repair operations<\/br>
\n2023-04-11 22:16:47<\/br><\/p>\n

\n
\n\t\t\t\n\t\t<\/div>\n<\/p><\/div>\n
\n

A shortage of available vehicles, higher car prices and interest rates are fueling car owners to hold onto their vehicles longer. Statistics from the Bureau of Transportation Statistics<\/a> show that the average passenger car on the road is over 13 years old. In 2017, the age of the average car was 11 years old.<\/p>\n

All of that holding on means more repairs, but 90% of auto repair shops still use \u201carchaic technology\u201d in the form of spreadsheets and clunky invoicing tools. Though these may be increasingly difficult to use, \u201cchange to something new\u201d is keeping shops from upgrading, according to AutoLeap<\/a> co-CEOs Steve Lau and Rameez Ansari.<\/p>\n

Focused on ease of use, AutoLeap is providing an enterprise SaaS offering for the auto repair industry that digitizes their workflow, including the processing of customer quoting, invoices and job estimates. It also has a sales and marketing component for customer relationship management.<\/p>\n

The company touts that in the first year of using its software, auto repair shops, on average, realize a 30% increase in revenue and a 50% decrease in time spent on administrative tasks.<\/p>\n

Meanwhile, auto repair technology is shifting from \u201ca nice to have\u201d to a \u201cmust have,\u201d especially as older shop owners turn their companies over to younger, more tech savvy successors, Steve Lau told TechCrunch.<\/p>\n

\u201cGiven the economic climate, we\u2019re entering into the golden age for aftermarket auto repair where a lot of these trends are a huge net positive for our customers,\u201d Steve Lau told TechCrunch. \u201cThe older the car gets, the more expensive that repair gets. You also have this interesting dynamic and trend where the preference for \u2018do it for me\u2019 is now overtaking do it yourself. Ultimately, we\u2019ve seen tremendous growth from our customer base over the past year.\u201d<\/p>\n

An industry ripe for technology also means more startups are coming in with approaches to solving the problem and in turn attracting investor attention. CarmaCare<\/a>, touting its \u201chealthcare-for-your-car\u201d angle, announced $4.5 million in funding earlier this month, while over in Brazil, Mecanizou<\/a> raised $14.5 million to help repair shops locate parts.<\/p>\n

AutoLeap itself closed on $30 million in Series B in March. The round was led by AVP (Advance Venture Partners) with participation from existing investors Bain Capital Ventures, Threshold Ventures and Maple VC. As part of the investment, David ibnAle from AVP is joining AutoLeap\u2019s board.<\/p>\n

\"AutoLeap<\/p>\n

AutoLeap co-CEOs Rameez Ansari and Steve Lau. Image Credits:<\/strong> AutoLeap<\/p>\n<\/div>\n

The company raised $53 million in total, and since its $18 million Series A in late 2021<\/a>, AutoLeap grew its customer base by nearly 10 times. Lau declined to go into detail about revenue growth, but did say \u201cit\u2019s been very strong revenue growth commensurate with our customer growth.\u201d<\/p>\n

AutoLeap\u2019s team has more than doubled in the past year, and the new capital will go toward the continuation of hiring across all functions. In addition, the company will invest in product development and customer experience.<\/p>\n

Raising a Series B often signifies the exiting of \u201cstartup\u201d status, and as part of AutoLeap\u2019s continued growth, the company now plans for more thought leadership around the shift in technology among auto repair shops, Rameez Ansari said in an interview. For example, AutoLeap recently held its first virtual auto repair conference in March, called Amplify, and Ansari wants to do more like that.<\/p>\n

\u201cWe want to continue to educate the market,\u201d Ansari said. \u201cWe\u2019ve been doubling down on doing webinars with some of the most well-known carriers and industry coaches with the intention to educate the space on the technology transformation that\u2019s happening.\u201d<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/04\/11\/autoleap-saas-auto-repair-operations\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/11\/autoleap-saas-auto-repair-operations\/ AutoLeap, now with $30M Series B, accelerates SaaS approach to auto repair operations 2023-04-11 22:16:47 A shortage of available vehicles, higher car prices and interest rates are fueling car owners to hold onto their vehicles longer. Statistics from the Bureau of Transportation Statistics show that the average passenger car on the road is over […]<\/p>\n","protected":false},"author":1,"featured_media":28971,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-28970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nAutoLeap, now with $30M Series B, accelerates SaaS approach to auto repair operations - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/04\/11\/autoleap-now-with-30m-series-b-accelerates-saas-approach-to-auto-repair-operations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AutoLeap, now with $30M Series B, accelerates SaaS approach to auto repair operations - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/04\/11\/autoleap-saas-auto-repair-operations\/ AutoLeap, now with $30M Series B, accelerates SaaS approach to auto repair operations 2023-04-11 22:16:47 A shortage of available vehicles, higher car prices and interest rates are fueling car owners to hold onto their vehicles longer. 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