RepairPal Raises $4 Million Series A Financing
Tugboat Ventures leads round with prominent individual investors
December 16, 2009, Emeryville, CA -- RepairPal (http://repairpal.com), the leading destination for auto repair and maintenance information, today announced the completion of its $4 million Series A financing. Tugboat Ventures led the round that also included individual investors:
- Rick Keister, former CEO of Keystone Automotive Industries (acquired by LKQ Corp.) and former President of Aftermarket at Delco Remy
- David Strohm, Partner at Greylock Partners, board member at EMC and VMware
- Mark Goines, former Intuit executive and board member at Mint.com
- Michael Torres, CEO of Adelante Capital Management
Dave Whorton, Managing Partner at Tugboat, joined RepairPal's Board of Directors. Mr. Whorton was co-founder of Drugstore.com (DSCM) and founding CEO of Good Technology (acquired by Motorola). Prior to founding Tugboat Ventures, Mr. Whorton was a managing director at TPG Ventures and associate partner with Kleiner Perkins Caufield & Byers, where he worked on the firm's AutoTrader investment. Mr. Whorton currently serves on the Boards of Directors of SuccessFactors (Nasdaq: SFSF), Cuil, RichRelevance and NewSchools Venture Fund.
“We’re thrilled to have Dave and the other new investors who share our vision and commitment to creating the highest quality data and products in the marketplace,” said David Sturtz, CEO of RepairPal. “With this investment we can significantly advance our roadmap and ability to deliver value to our customers, partners and visitors.”
"In a large and important industry viewed skeptically by consumers, RepairPal has built the definitive database of consumer-accessible auto repair costs, and has established itself as a trusted partner to consumers, dealerships, shop owners and key industry players. Their commitment to customer success and technical excellence reflects the key values of great ventures such as Amazon and SuccessFactors," said Mr. Whorton.
Award-winning RepairPal is the only automotive resource delivering free, "instant" RepairPrice Estimates via the Web and its popular iPhone mobile application. RepairPal provides the most accurate auto repair and maintenance information available anytime, anywhere, built by its team of factory-trained and ASE-certified technicians. RepairPal's patent-pending technology generates more than 70 billion unique RepairPrice Estimates for almost all passenger vehicles and every zip code in the country. It also has the most comprehensive directory of auto repair facilities in the U.S. and a proprietary database of each model's common problems. RepairPal is an Approved Vendor for the Automotive Service Councils of California (ASCCA) and a Member Benefit for the Automotive Service Association (ASA). It has established partnerships with AAA (Northern California, Nevada & Utah), AOL Autos, CustomerLink, Cars.com, Bosch, ACDelco, Belo Interactive, AutoNation and Gabriels Technologies. RepairPal is headquartered in Emeryville, CA. For more information, please visit http://repairpal.com or email@example.com.