Jerry, a car-ownership super app, has just announced that it has closed $75 million in a Series C funding round. The financing round was led by Goodwater Capital. This oversubscribed funding round took the valuation of Jerry to $450 million. Prior to this round, the startup raised $28 million in Series B funding and the overall investment it secured accounts for $132 million.
Highland Capital Partners, which is a premiere venture growth investment firm and Park West Asset Management that commonly invests in public as well as private companies, especially in consumer, technology, and healthcare have also invested in the firm.
The proceeds of this funding round will be used to fuel the launch of its marketplaces in vehicle financing, warranties, repair, parking, maintenance, and other money-saving services.
Headquartered in Palo Alto, Jerry also has offices in Toronto and Lockport and has remote staff. The company lets users save a lot of time and money that they spend on their car expenses. Its car insurance comparison platform that uses AI and machine learning serves over 1 million customers.