About ForeverCar
ForeverCar is a company based in Chicago (United States) founded in 2011 was acquired by CUNA Mutual Group in November 2020. ForeverCar has raised $17.65 million across 5 funding rounds from investors including CUNA Mutual Group, CMFG Ventures and Method Capital. The company has 12 employees as of December 31, 2022. ForeverCar operates in a competitive market with competitors including RepairPal, CarDash, Openbay, Endurance and WarrCloud, among others.
- Headquarter Chicago, United States
- Employees 12 as on 31 Dec, 2022
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Sectors
Transportation, Automotive & LogisticsBusiness Services
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Email
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Phone
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Website
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Social
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- Legal Name Forevercar Llc
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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Total Equity Funding
$17.65 M (USD)
in 5 rounds
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Latest Funding Round
$648.75 K (USD), Series A
Apr 03, 2020
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Investors
CUNA Mutual Group
& 4 more
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Employee Count
12
as on Dec 31, 2022
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Acquired by
CUNA Mutual Group
(Nov 12, 2020)
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People of ForeverCar
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Software Development Team
158 people
Leadership Team
104 people
Sales and Marketing
74 people
Product Management Team
33 people
Legal and Compliance
28 people
Senior Team
20 people
Finance and Accounting
19 people
Operations Team
19 people
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Funding Insights of ForeverCar
ForeverCar has successfully raised a total of $17.65M across 5 strategic funding rounds. The most recent funding activity was a Series A round of $648.75 thousand completed in April 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in ForeverCar
ForeverCar has secured backing from 5 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include CUNA Mutual Group, CMFG Ventures and Method Capital.
| Investor | Description | Founded Year | Domain | Location |
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Corporate-backed venture capital firm focused on fintech, Insurtech, and multiple sectors
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Venture capital funding is provided to Midwest technology companies.
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Venture capital funding is provided to Midwest technology companies.
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Investor details for ForeverCar
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Investments & Acquisitions by ForeverCar
Investment portfolio details for ForeverCar
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Financial Statements - ForeverCar
Detailed financials for ForeverCar
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Forevercar Comparisons
Peer comparison for ForeverCar
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Competitors of ForeverCar
ForeverCar operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as RepairPal, CarDash, Openbay, Endurance and WarrCloud, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Auto repair estimates and vetted mechanic directories are offered online.
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Online marketplace for car repair services
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Automotive repair services are aggregated via a mobile app platform.
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Vehicle coverage plans are provided by Endurance for automotive protection.
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Automotive warranty processing services are transformed and streamlined for efficiency.
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Quotes for car repairs are received from nearby garages online.
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Detailed competitors of ForeverCar
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Latest news on Forevercar
Complete news archive for ForeverCar
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Frequently Asked Questions about ForeverCar
ForeverCar was founded in 2011 and raised its 1st funding round 5 years after it was founded.
ForeverCar is headquartered in Chicago, United States. It is registered at Chicago, Illinois, United States.
ForeverCar is a funded company, having raised a total of $17.65M across 5 funding rounds to date.
As of Dec 31, 2022, the latest employee count at ForeverCar is 12.
ForeverCar was founded in 2011 in Chicago, United States. An online platform is operated in the auto insurance sector, where insurance for vehicle service contracts is offered. Partnerships are maintained with service providers to integrate quoting, commerce, and fulfillment engines. Additional services such as wheel and tire protection, dent and ding protection, key replacement, and windshield protection are also provided.
ForeverCar's top competitors include RepairPal, CarDash and WhoCanFixMyCar.
ForeverCar has 5 investors. Key investors include CUNA Mutual Group, CMFG Ventures, Method Capital, Jai Shekhawat, and Method Capital.