EMERYVILLE, CA--(Marketwire - December 16, 2009) - 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 partner 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.
About RepairPal
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.
Contact Information: Contact:
Erica Zeidenberg