Jerry – Automated Car Insurance Platform Raises $28M in Series B

Founded in 2017 by Art Agrawal, Lina Zhang & Musawir Shah and now a licensed insurance agency in 50 states of USA, Jerry has just bagged $28M in Series B raising its total funding amount to $57M.

The funding round was led by Goodwater Capital in participation with Jon McNeill (CEO of DVx Ventures, Board Member of Lululemon, former President of Tesla and COO of Lyft), Timothy Sheehan (CEO of Greenlight), Johnson Cook (President of Greenlight), Jay Vijayan (Founder & CEO of Tekion and former CIO of Tesla), Brandon Krieg (CEO of Stash) and Ed Robinson (President of Stash).

Jerry is an AI and machine learning based car insurance platform that automatically gets personalized insurance quotes from 40+ insurance carriers for your comparison and let you choose the best one with maximum savings. After you select an insurance policy, Jerry handles everything automatically including paperwork, switching to new policy and cancelling the older one etc.

Jerry also provides iOS and Android apps to make things super easy for you. As always, Jerry is 100% free for you without any catches. It just makes money by getting commissions from insurance companies.

“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,” said Art Agrawal, co-founder and CEO, Jerry. “Consumers demand access to any product or service with a few clicks, a text, or a swipe. And that’s the experience we’re creating at Jerry by redesigning and disrupting the processes of 100-year-old industries.”

Jerry was co-founded by the team who built YourMechanic, the largest nationwide on-demand car repair and maintenance service serving more than 2,000 U.S. cities: Agrawal, who serves as Jerry CEO; Lina Zhang, vice president of operations; and Musawir Shah, chief technology officer. The experienced leadership team is supported by board members and investors Chi-Hua Chien, co-founder of Goodwater Capital, and Rafi Syed, general partner at Bow Capital.

“What attracted us to Jerry is an automotive services marketplace for time-strapped and budget-minded consumers that offers a beautiful customer experience – significantly smarter, faster and more effortless in every way,” said Chi-Hua Chien. “AI combined with machine learning and bots creates the purchase environment that today’s customers expect. No others in the market can match the speed and agility that Jerry has built.”

“Our talent and our balance sheet are strong,” added Agrawal. “Our customer acquisition strategy is generating recurring revenue in the auto insurance category. This funding will accelerate expansion of our marketplace into new categories where we can serve our customers. Jerry will be the only app car owners need to save time and money on all their car expenses.”

Please read full story at Jerry Newsroom.