Giving auto shops a new tool to estimate repair costs reaps $6.3M for Estify – TechCrunch
Estify, a company that’s developed a new tool for auto repair businesses to better gauge the cost of its services for insurance claims, has raised $6.3 million in new financing.
It’s a way for car repair businesses to get payouts from insurers faster and better service customers.
And, at least until autonomous vehicles are a reality, it’s a service that’s becoming increasingly important. Mainly because U.S. drivers are really awful.
There have been 10,710 accidents in the U.S. already this year, according to a website called AccidentsinUS.com. That means we might be on track to beat last year’s record of 12,293 accidents, according to data collected by the site.
Los Angeles-based Estify, basically raised the money to gin up its executive suite. And now boasts a deck stacked with some pretty hardcore LA-based executive talent.
The company has named Rochelle Thielen (a longtime executive with Mitchell International who has direct experience in dealing with the network of repair shops and insurance providers) as its new chief executive.
Estify also added Randy Adams, the former founder of Navitel, Newsnet, AutionDrop, Searchme, Funny or Die, Celebrity Apps, and WTF Studios as chief technology officer. According to a release from the company, Adams boasts having raised $250 million in capital and returning over $28 billion to investors.
The company’s new round was led by Romulus Capital with participation from ff Venture Capital,
“While we’re thinking about making cars autonomous, it’s important to remember that nearly 100 Americans die every day in automobile accidents. While the process of repairing vehicles continues to increase in complexity, the technology available to repairers has not kept up,” says Romulus partner Neil Chheda. “The lack of data-driven accuracy in this industry costs lives and billions of dollars. This problem must be solved, and Estify’s team and technology is uniquely positioned to solve it.”