Jerry Services, which offers car insurance comparison service powered by AI and machine learning, has completed a $28m Series B funding round led by Goodwater Capital.
Tekion CEO Jay Vijayan, DVx Ventures CEO and ex-Tesla president Jon McNeill also participated.
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Other backers included Stash CEO Brandon Krieg along with its co-founder and president Ed Robinson, Greenlight president Johnson Cook and its CEO Timothy Sheehan.
With this fresh infusion, Jerry brings its total capital raised so far to over $57m.
The California-based firm conducted its Series A fundraising in 2018. That round was led by Bow Capital, who was joined by Y Combinator, SV Angel, FundersClub, Joe Montana’s Liquid 2 Ventures, Plug and Play Ventures, Zillionize, and Mercury CEO Immad Akhund.
Bow Capital general partner Rafi Syed said: “What differentiates Jerry is they’ve achieved in three years what has taken others nearly a decade.
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By GlobalData“The Jerry platform and technology demonstrate previously unattainable speed and an effortless experience that is attracting and retaining customers at a fraction of the operating expenses of other comparison sites and traditional carriers.”
Jerry introduced its car comparison service in 2019. Currently, the firm has a customer base of around one million in the US.
Its car insurance platform offers customised quotes from more than 45 insurance carriers in 45 seconds. It is available for free across all 50 US states.
Jerry co-founder and CEO Art Agrawal said: “We’re bringing the daily needs of car owners – insurance, loans, maintenance, repairs, warranties, parking, and more – in line with modern e-commerce expectations to create a frictionless cost-saving experience.”
Last month, Clearcover – a US-based insurtech focused on car insurance solutions – raised $200m in a Series D funding round to strengthen its digital insurance offerings.
In the same month, another US insurtech Lemonade, which uses AI technology and behavioural economics, said that it is prepping up to foray into the car insurance market this year.
