What is ServiceUp?
Founded in 2021, ServiceUp initially targeted the consumer market before pivoting to a high-growth B2B model. The company provides a comprehensive digital ecosystem that connects fleets, insurers, and repair shops, effectively eliminating the inefficiencies inherent in traditional, disconnected maintenance workflows. By offering real-time visibility and streamlined vendor management, ServiceUp serves as a critical operational layer for organizations managing large vehicle assets. Its market position is defined by its ability to bridge the gap between complex repair requirements and the need for transparent, data-driven oversight in the automotive services industry.
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 PeakSpan Capital, Capital Midwest Fund, Litquidity, Trestle Capital Partners, and Hearst
Key Investors in ServiceUp
PeakSpan Capital
A growth equity firm based in New York and Silicon Valley that specializes in providing operational support and strategic guidance to scaling software companies.
Hearst Ventures
The global venture capital division of Hearst, focusing on diversified media, information, and services with a strong track record in supporting innovative technology platforms.
Capital Midwest Fund
An investment firm targeting revenue-stage companies in the Central United States that provide technology solutions for industrial and enterprise customers.
What's next for ServiceUp?
With the recent capital infusion, ServiceUp is poised to expand its footprint across the national landscape, focusing on deepening its integration with major insurance carriers and fleet operators. The strategic roadmap likely involves enhancing its proprietary software suite to include predictive maintenance analytics and automated claims processing. As the company scales, it will prioritize the acquisition of new enterprise partnerships and the optimization of its vendor network to maintain its competitive advantage in the automotive technology space. The focus remains on achieving operational excellence and cementing its role as the primary repair management partner for the modern enterprise.
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