About Wrench
Wrench is a company based in Seattle (United States) founded in 2016 by Doug Stevens, Casey Willis, William Beaver, Edward Petersen, and Michelle Parsons Virta. It operates as a On-Demand Services, and Managed Services. Wrench has raised $77.2 million across 6 funding rounds from investors including Bridgestone, Marubeni and Madrona. The company has 26 employees as of April 07, 2024. Wrench has completed 4 acquisitions, including Fiix, Lemon Squad and Otobots. Wrench offers products and services including Mobile Auto Repair, Roadside Assistance, Fleet Management Services, and Used Vehicle Inspection. Wrench operates in a competitive market with competitors including YourMechanic, RepairPal, Yoshi, Openbay and Endurance, among others.
- Headquarter Seattle, United States
- Employees 26 as on 07 Apr, 2024
- Founders Doug Stevens, Casey Willis, William Beaver, Edward Petersen, Michelle Parsons Virta
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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 Wrench, Inc.
- Date of Incorporation 22 Jan, 2020
- Jurisdiction Bangalore, Karnataka, India
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Annual Revenue
$1.04 M (USD)74.98as on Mar 31, 2022
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Net Profit
$104.01 K (USD)92.36as on Mar 31, 2022
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EBITDA
$163.82 K (USD)101.67as on Mar 31, 2022
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Total Equity Funding
$77.2 M (USD)
in 6 rounds
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Latest Funding Round
$40 M (USD), Series C
Aug 07, 2023
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Investors
Bridgestone
& 7 more
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Employee Count
26
as on Apr 07, 2024
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Investments & Acquisitions
Fiix
& 3 more
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Products & Services of Wrench
Wrench offers a comprehensive portfolio of products and services, including Mobile Auto Repair, Roadside Assistance, Fleet Management Services, and Used Vehicle Inspection. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Mobile mechanics provide on-site vehicle repair services.
Emergency towing and roadside help are offered.
Auto repair solutions for fleet vehicles provided.
Pre-purchase inspections for used vehicles are conducted.
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Funding Insights of Wrench
Wrench has successfully raised a total of $77.2M across 6 strategic funding rounds. The most recent funding activity was a Series C round of $40 million completed in August 2023. 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.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series C — $40.0M
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First Round
First Round
(21 Jun 2016)
- Investors Count 8
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2023 | Amount | Series C - Wrench | Valuation |
investors |
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| Sep, 2021 | Amount | Series C - Wrench | Valuation | Bridgestone , Madrona Venture Group | |
| Nov, 2019 | Amount | Series C - Wrench | Valuation | Vulcan Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Wrench
Wrench has secured backing from 8 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Bridgestone, Marubeni and Madrona. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital investing in AI, biotech, and technology sectors, focusing on seed and early stages in Seattle and beyond.
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Founded Year | Domain | Location | |
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Investment and partnership services for entrepreneurs in finance and growth support.
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Founded Year | Domain | Location | |
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Private equity investments are backed by a single-family office firm.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Wrench
Wrench has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include Fiix, Lemon Squad and Otobots. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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On-demand automotive repair services are offered online.
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2016 | ||||
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App and online based Marketplace for car repair services
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2015 | ||||
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On-demand vehicle maintenance and repairs are provided via mobile platform.
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2011 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Wrench
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Wrench Comparisons
Competitors of Wrench
Wrench 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 YourMechanic, RepairPal, Yoshi, Openbay and Endurance, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
On-demand vehicle maintenance and repairs are provided via mobile platform.
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| domain | founded_year | HQ Location |
Auto repair estimates and vetted mechanic directories are offered online.
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| domain | founded_year | HQ Location |
Mobile vehicle inspection and maintenance solutions are provided to fleets.
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| domain | founded_year | HQ Location |
Automotive repair services are aggregated via a mobile app platform.
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| domain | founded_year | HQ Location |
Vehicle coverage plans are provided by Endurance for automotive protection.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Wrench
Frequently Asked Questions about Wrench
When was Wrench founded?
Wrench was founded in 2016.
Where is Wrench located?
Wrench is headquartered in Seattle, United States. It is registered at Seattle, Washington, United States.
Who is the current CEO of Wrench?
Edward Petersen is the current CEO of Wrench. They have also founded this company.
Is Wrench a funded company?
Wrench is a funded company, having raised a total of $77.2M across 6 funding rounds to date. The company's 1st funding round was a Series C of $20M, raised on Jun 21, 2016.
How many employees does Wrench have?
As of Apr 07, 2024, the latest employee count at Wrench is 26.
What is the annual revenue of Wrench?
Annual revenue of Wrench is $1.04M as on Mar 31, 2022.
What does Wrench do?
Mobile auto repair and maintenance services are offered by Wrench across various U.S. cities. Vehicles are serviced at customer locations, including homes and workplaces, by certified mechanics. A wide range of solutions, from oil changes to complex repairs, are provided for individual and fleet vehicles. Emergency roadside assistance and pre-purchase vehicle inspections are also included in the offerings. The automotive sector is primarily served, focusing on convenience and contactless service delivery.
Who are the top competitors of Wrench?
What products or services does Wrench offer?
Wrench offers Mobile Auto Repair, Roadside Assistance, Fleet Management Services, and Used Vehicle Inspection.
How many acquisitions has Wrench made?
Wrench has made 4 acquisitions, including Fiix, Lemon Squad, and Otobots.
Who are Wrench's investors?
Wrench has 8 investors. Key investors include Bridgestone, Marubeni, Madrona, Tenaya Capital, and Vulcan Capital.
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