What is ServiceUp?
Founded in 2021, ServiceUp has evolved from a simple driver-focused repair service into a sophisticated B2B infrastructure provider. The company addresses critical inefficiencies in the automotive repair industry, specifically targeting the disconnected workflows that plague fleets and insurers. By providing a centralized platform that integrates vendors and repair shops, ServiceUp offers unprecedented visibility and operational control. This digital transformation of the repair supply chain has established the company as a vital partner for organizations seeking to reduce downtime and optimize maintenance costs at scale.
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 Litquidity, Trestle Capital Partners, Hearst, PeakSpan Capital, and Capital Midwest Fund
Key Investors in ServiceUp
PeakSpan Capital
A growth equity firm based in New York and Silicon Valley that specializes in partnering with growth-stage software companies to provide operational support and strategic scaling guidance.
Hearst Ventures
The global venture capital division of Hearst, focusing on diversified media, information, and services, with a strong track record of supporting innovative technology-enabled businesses.
Capital Midwest Fund
An investment firm targeting revenue-stage companies in the Central United States that provide technology solutions for industrial, manufacturing, and enterprise customers.
What's next for ServiceUp?
With the successful closure of this major strategic investment, ServiceUp is poised to enter a new phase of aggressive scaling. The company intends to utilize the fresh capital to enhance its proprietary software suite, further automating the repair lifecycle and deepening its integration with major insurance carriers and fleet operators. As the demand for data-driven maintenance solutions grows, ServiceUp is strategically positioned to capture additional market share, potentially exploring new geographic territories and expanding its service network to meet the complex requirements of large-scale enterprise clients.
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