How Much Did Jerry Raise? Funding & Key Investors

Jerry has successfully raised significant funding through multiple rounds, including a Series C, to support its innovative AllCar™ app. The platform offers a comprehensive suite of services for car owners, from insurance comparison to repair cost transparency.

Keep reading to explore the intricacies of Jerry's fundraising journey and the investors backing this transformative platform.

What Is Jerry?

Founded in 2017, Jerry is headquartered in Palo Alto, California. The company was established by Art Agrawal, Lina Zhang, and Musawir Shah.

Jerry is America's first AllCar™ app, designed to simplify car ownership. It offers services like insurance comparison, loan refinancing, and repair cost transparency.

With a team of 251-500 employees, Jerry helps over 4 million U.S. customers manage their car-related needs efficiently.

How Much Funding Has Jerry Raised?

1. Pre-Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: April 2017
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: Initial funding to develop the AllCar™ app and establish the company.
2. Series A
   • Amount Raised: $9M
   • Date: October 2018
   • Lead Investors: Bow Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the team and enhance the app's features.
3. Series B
   • Amount Raised: $28M
   • Date: May 2021
   • Lead Investors: Goodwater Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and increase market penetration.
4. Debt Financing
   • Amount Raised: $20M
   • Date: May 2021
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support operational expenses and growth initiatives.
5. Series C
   • Amount Raised: $75M
   • Date: August 2021
   • Lead Investors: Goodwater Capital
   • Valuation at Round: $450M
   • Motivation Behind the Round: To further develop the app and expand service offerings.
6. Debt Financing
   • Amount Raised: Not publicly disclosed
   • Date: April 2022
   • Lead Investors: TriplePoint Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support ongoing operational costs and new service launches.
7. Series C
   • Amount Raised: $110M
   • Date: August 2023
   • Lead Investors: Park West Asset Management
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand services like GarageGuard and DriveShield, and enhance the overall car ownership experience.

Total Amount Raised: $242M. Current Valuation: Not publicly disclosed.

Key Investors

• Park West Asset Management
  • Details: Park West Asset Management is a hedge fund based in California, known for its focus on equity investments. They led Jerry's Series C2 equity financing round.
  • Investment Focus Areas: Equity investments, growth-stage companies, technology.
  • Notable Investments: Not publicly disclosed.
• Goodwater Capital
  • Details: Goodwater Capital is a venture capital firm that invests in consumer technology companies. They have been a consistent investor in Jerry, participating in multiple funding rounds.
  • Investment Focus Areas: Consumer technology, fintech, mobile applications.
  • Notable Investments: Musical.ly (now TikTok), Stash, Toss.
• Highland Capital Partners
  • Details: Highland Capital Partners is a venture capital firm that invests in early and growth-stage companies. They reinvested in Jerry's Series C2 round.
  • Investment Focus Areas: Technology, healthcare, consumer sectors.
  • Notable Investments: 2U, Rent the Runway, Scopely.
• Plug and Play Ventures
  • Details: Plug and Play Ventures is an early-stage investor and accelerator that focuses on technology startups. They have participated in multiple funding rounds for Jerry.
  • Investment Focus Areas: Technology, fintech, healthtech.
  • Notable Investments: PayPal, Dropbox, LendingClub.
• TriplePoint Capital
  • Details: TriplePoint Capital specializes in providing debt financing to venture capital-backed companies. They led the debt facility for Jerry's recent funding round.
  • Investment Focus Areas: Debt financing, venture capital-backed companies, technology.
  • Notable Investments: Facebook, YouTube, LinkedIn.

What's Next for Jerry?

Jerry's future looks promising as it continues to expand its services with GarageGuard and DriveShield, tapping into the trillion-dollar automobile market. By leveraging AI and forming partnerships with major automotive service providers, Jerry aims to simplify car ownership for millions more users.

Given the oversubscribed nature of its recent funding round, Jerry is well-positioned for future investment opportunities. However, the company must navigate challenges such as maintaining user trust and standing out in a competitive market. Ensuring data security and continuously adding value will be crucial for sustained growth.

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