What is ServiceUp?
Founded in 2021, ServiceUp initially focused on individual driver repairs before pivoting to address the complex needs of the B2B market. The company has established itself as a critical partner for leading fleets, insurers, and repair shops nationwide by tackling outdated processes and lack of visibility in vehicle repairs. ServiceUp's platform provides a unified solution, enhancing efficiency and transparency in the repair ecosystem.
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, Trestle Capital Partners, Hearst, Litquidity, and Capital Midwest Fund
Key Investors in ServiceUp
PeakSpan Capital
PeakSpan Capital is a growth equity firm specializing in partnering with growth-stage software companies, focusing on delivering operational support and strategic guidance to help entrepreneurs scale their businesses effectively.
Hearst
Hearst is a global diversified media, information, and services company with a broad portfolio including financial services and transportation technology, known for delivering trusted content and data-driven insights.
Capital Midwest Fund
Capital Midwest Fund invests in revenue-stage technology solution companies in the Central United States, primarily targeting industrial, manufacturing, and enterprise customers with a focus on trending technology themes.
What's next for ServiceUp?
The substantial enterprise-level funding indicates ServiceUp is poised for significant scaling and market expansion. This capital injection will likely fuel further development of its technology platform, enhance its operational capabilities, and broaden its customer base within the fleet and insurance industries. The company's strategic focus on solving critical B2B pain points positions it for continued growth and market leadership in the vehicle repair management space.
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