Jerry, the AI car app, raises $28M in venture capital

May 17, 2021 · 1 min read
Jerry, the AI car app, raises $28M in venture capital
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Jerry.ai is the AI-powered car insurance app that has over 1 million users in the United States. That is in addition to the $57 million from previous fundraising.

According to TechCrunch:

And now today, Jerry is announcing that it has raised more than $57 million in funding, including a new $28 million Series B round led by Goodwater Capital. A group of angel investors also participated in the round, including Greenlight president Johnson Cook and Greenlight CEO Timothy Sheehan; Tekion CEO Jay Vijayan; Jon McNeill, CEO of DVx Ventures and former president of Tesla and ex-COO of Lyft; Brandon Krieg, CEO of Stash and Ed Robinson, co-founder and president of Stash.

CEO Agrawal says Jerry is different from other auto-related marketplaces out there in that it aims to help consumers with various aspects of car ownership (from repair to maintenance to insurance to warranties), rather than just one. Although for now it is mostly focused on insurance, it plans to use its new capital to move into other categories of car ownership.

The company also believes it is set apart from competitors in that it doesn’t refer a consumer to an insurance carrier’s site so that they still have to do the work of signing up with them separately, for example. Rather, Jerry uses automation to give consumers customized quotes from more than 45 insurance carriers “in 45 seconds.” The consumers can then sign on to the new carrier via Jerry, which would even cancel former policies on their behalf.