AutoLeap Announces $18 Million Series A Funding Led By Bain Capital Ventures

TORONTO, Oct. 1, 2021 /PRNewswire/ - AutoLeap, an auto repair software company serving the automotive repair industry, has raised $18 million in a Series A round. The funding round was led by Bain Capital Ventures, with repeat participation from Threshold Ventures, which led AutoLeap's $5 million Seed round in September 2020. The funding will be used to accelerate impact for auto repair shops as AutoLeap continues investing in product enhancements, customer experience, and attracting top-tier talent from around the world.

AutoLeap provides the leading all-in-one SaaS software that helps auto repair shop owners better understand, manage and grow their business – from scheduling appointments to managing technicians and generating invoices. The best auto repair shops choose AutoLeap as it helps them save time and make more money.

With thousands of auto repair shops still using manual, paper-based processes for auto repair estimates and invoicing, it's no surprise the automotive repair industry is underserved by technology. "AutoLeap is on a mission to transform the lives of auto repair shop owners. These blue collar, typically non-tech-savvy folks are hardworking, salt-of-the-earth type people who deserve better technology," says Steve Lau, co-founder and co-CEO at AutoLeap. "By reducing their administrative burden by tens of hours a week and driving more revenue, they can now go do things like see their kids' baseball games and finally begin to enjoy the fruits of their labor."

"It's 2021 and most auto repair shops operate like it's 1990. We are the game-changer for auto repair shops across North America, helping them organize, simplify their day-to-day operations, and make more money," said Rameez Ansari, AutoLeap's other co-founder and co-CEO. "This funding will allow us to lean in towards improving our product and providing best-in-class features to auto repair businesses."

Acknowledging the impact that AutoLeap continues to make, Ajay Agarwal, partner at Bain Capital Ventures, "Rameez and Steve have picked a segment which has historically been ignored by the high-tech industry. With approximately 300,000 auto repair businesses in North America, we're very excited about partnering with AutoLeap as it helps these businesses go to the next level."

About AutoLeap

AutoLeap provides an all-in-one, cloud-based auto repair shop management software that helps shop owners better understand, manage and grow their business - from scheduling appointments to managing technicians and generating invoices. The best auto repair shops choose AutoLeap as it helps them save time and make more money. The founding team at AutoLeap are repeat entrepreneurs who previously launched, scaled and successfully exited FieldEdge.

About Bain Capital Ventures

Bain Capital Ventures partners with disruptive founders to accelerate their ideas to market. The firm invests from seed to growth in startups driving transformation across industries, from SaaS, infrastructure software and security to fintech and healthcare to commerce and consumer tech. The firm has helped launch and commercialize more than 350 companies, including Attentive, Digital Currency Group, DocuSign, Flywire, Jet.com, LinkedIn, Redis Labs, Rent the Runway, SendGrid, and SurveyMonkey. Bain Capital Ventures has $8.3 billion in assets under management with offices in San Francisco, New York, Boston, and Palo Alto.

About Threshold Ventures

Threshold is an early-stage venture capital firm which partners with exceptional entrepreneurs building innovative consumer, enterprise, and healthcare technology companies. Threshold was an early investor in many of the tech industry's biggest success stories, including Skype, SpaceX, Tesla and Twilio.

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SOURCE AutoLeap