Texas, USA-based subscription-based tech company revolutionizing the auto maintenance and repair industry, Goodhood raised USD 2.6 million in funding. The round took place on October 11, 2023. New York-based Bullish led the financing for the company. Existing investors such as Okapi Capital and Mucker Capital also joined in the funding. Besides, new investors such as New Age Ventures, Kubera Venture Capital, and Impact Ventures, as well as other executives as angels, also provided the investment.
Purpose of financing for Goodhood
With the latest financing, Goodhood has plans to develop its technology and operations. It also includes launching a new Auto Club subscription service. Meanwhile, the company looks to expand into new geographies nationally.
In addition, Goodhood is currently rolling out driveways across Texas and Michigan while looking forward to national expansion.
What the company’s official has to add
Prashant Salla, Founder and CEO of Goodhood, said, “Think of Goodhood as the Amazon Prime for your car. With one app on your phone, you can have car care in your pocket.”
Salla further added, “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.”
What the investors have to comment
Brent Vartan, Managing Partner at Bullish, said, “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. Goodhood has a 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.”
Vartan further added, “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. 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.”
About the company
Prashant Salla and Sean Robenalt launched the company in 2020. Goodhood is a leading mobile auto repair service delivering convenient car maintenance and repair services directly to customers’ doorsteps. The company’s commitment aligns with exceptional customer service and the use of advanced technology. Goodhood revolutionizes the way people take care of their cars.
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