Goodhood is rolling out its subscription-based car maintenance and repair business to markets nationwide
Goodhood, a subscription-based tech company revolutionizing the auto maintenance and repair industry, has rebranded and raised $2.6 million in seed funding. The round was led by New York-based Bullish with participation from existing investors Okapi Capital and Mucker Capital. New investors include New Age Ventures, Kubera Venture Capital, and Impact Ventures, as well as other executives as angels.
Goodhood connects car owners to mechanics for at-home maintenance and repairs. A monthly subscription allows users to browse, book, and manage service appointments through the platform. In an industry riddled with distrust and information asymmetry, Goodhood provides customers across Michigan, Texas, and Arizona a manageable and transparent auto service experience.
“Think of Goodhood as the Amazon Prime for your car. With one app on your phone, you can have car care in your pocket,” said Prashant Salla, Founder and CEO of Goodhood.
Read More About Fintech Interview: Global Fintech Interview with Alessandro Onano, CMO at Tymit
The company, originally called FixMyCar, built a strong reputation for exceptional service in Detroit and other core markets. Bullish, a consumer investment firm and brand agency, led a rebranding effort to help Salla and team better communicate their unique proposition. The resulting name – Goodhood – and visual identity system are designed to capture how stress-free car care can actually be.
“Time-starved Americans are increasingly turning to do-it-for-me (DIFM) services, but the automotive industry has been largely destination and supply-side dominant,” said Brent Vartan, Managing Partner at Bullish. “Goodhood has unique empathy for this challenge and is obsessed with delivering a superior customer experience across a number of key markets. We are excited to partner with Prashant in driving the company’s expansion.”
Goodhood will use the seed funding to develop its technology and operations, including launching a new Auto Club subscription service and expanding into new geographies nationally.
With all services performed in the member’s driveway, free unlimited oil changes, and discounts on all other car repair services, Goodhood’s Auto Club’s mobile app is designed to make car ownership more convenient and affordable. Future plans for the Auto Club include the addition of roadside assistance and insurance services.
“We’re laser-focused on delivering a great customer experience while strategically adding more value to the subscription. Eventually, you will just need one app on your phone to conveniently manage your car after purchase,” added Salla.
With the support of its investors, Goodhood is currently rolling out to driveways across Texas and Michigan, while looking toward national expansion.
“As investors, we understand the opportunity for consumer disruption in auto repair and believe in the team’s ability to build an effective end-to-end solution for both mechanics and car owners,” said Vartan. “But we also knew that a strong brand would be critical for entering new markets and establishing trust in the industry. We look forward to Goodhood becoming the go-to place for convenient car care nationwide.”
Fintech Insights: Three Game-changing Examples of AI in Private Equity
[To share your insights with us, please write to pghosh@itechseries.com ]
