Jerry Valuation, Funding & Investors
Jerry is valued at $450M as of August 2021.
Last Jerry valuation
$450M
Series C · Aug 2021
Last Jerry funding round
$110M
Series C · Aug 2023
Cumulative funding Jerry raised
$222M
across 4 funding rounds
Key investors in Jerry
Goodwater Capital
Highland Capital Partners
Bow Capital
Park West Asset Management
Plug and Play
TriplePoint Capital
About Jerry
Jerry is a San Francisco-based mobile app streamlining car ownership services for U.S. drivers including insurance shopping, loan refinancing, maintenance estimates, and safety scoring. It aggregates quotes from 50-plus insurers and partners with repair networks for transparent pricing. The platform tracks vehicle health via connected devices and offers roadside assistance. Founded in 2019, Jerry serves millions through AI-powered comparisons and financing options.
Founded
2017
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Valuation
$450M (Aug 2021)
Jerry Valuation
Jerry is currently valued at $450M, based on its Series C in August 2021.
The $75M round was led by Goodwater Capital, with participation from Highland Capital Partners, Bow Capital, Kamerra and Park West Asset Management.
Jerry's valuation has grown 21x from $21M at its Series A in October 2018 to $450M in August 2021, across 2 priced rounds.
Jerry valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Aug 2021 | Series C | $450M |
| Oct 2018 | Series A | $21M |
Jerry Funding History
Jerry has raised a total of $222M across 4 funding rounds.
Jerry's first fundraising round was a $9M Series A in October 2018. The most recent completed round was a $110M Series C in August 2023.
Jerry funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2023 | Series C | Park West Asset Management (lead); Plug and Play; Highland Capital Partners; Goodwater Capital; TriplePoint Capital | $110M | - | Jerry Services Inc., operating as Jerry, is a Palo Alto-based insurtech company founded in 2017 by Art Agrawal, Musawir Shah, and Lina Zhang. The company provides an AI-powered AllCar mobile app that helps users compare and purchase vehicle and home insurance from over 50 carriers, earning revenue through a percentage of premiums as a licensed insurance broker. It has expanded into additional car ownership services including financing, refinancing via PriceProtect technology, maintenance tracking with GarageGuard, safer driving rewards via DriveShield, warranties, parking, and repairs, serving approximately 4 million customers nationwide as of 2023. In 2023, Jerry raised $110 million in a Series C2 round comprising equity and debt financing, led by Park West Asset Management with participation from Goodwater Capital, Highland Capital Partners, Plug and Play Ventures, and a debt facility from TriplePoint Capital. This followed prior raises including a $28 million Series B in May 2021 led by Goodwater Capital and a $75 million Series C in August 2021 also led by Goodwater with Highland, valuing the company at $450 million post-money at that time. The 2023 funding aims to accelerate app expansion and new service launches like GarageGuard and DriveShield to enhance car owner convenience and savings. Jerry reported 10x revenue growth in 2020 over 2019 during its 2021 Series C, with CEO Art Agrawal noting strong annual recurring revenue growth and exceeding targets, though specific 2023 figures near the round date are not disclosed. The company has raised over $242 million in total venture capital, employs around 186-500 people with offices in Silicon Valley, Toronto, and Buffalo, and positions itself against traditional insurance comparison sites by emphasizing its recurring revenue model and AI-driven services. Investors highlight Jerry's data-backed innovations meeting driver demands and building long-term customer relationships. |
| Aug 2021 | Series C | Goodwater Capital (lead); Highland Capital Partners; Bow Capital; Kamerra; Park West Asset Management | $75M | $450M | Jerry is an AI-powered mobile-first car ownership super app headquartered in Palo Alto, California. The company launched in January 2019 as an artificial intelligence and machine learning-based car insurance comparison service and had grown to serve nearly 1 million customers across all 50 U.S. states by August 2021. Jerry generates revenue as a licensed insurance broker by earning a percentage of premiums when users purchase insurance policies through its platform. The company expanded its super app approach to include additional car ownership services such as loans, maintenance, repairs, warranties, and parking. In August 2021, Jerry closed a Series C funding round of $75 million led by Goodwater Capital, with participation from existing backers Bow Capital and Kamerra, plus new investors Highland Capital Partners and Park West Asset Management. The oversubscribed round valued the company at $450 million post-money and brought total funding to $132 million. The financing was completed just seven months after Jerry's $28 million Series B round, which had valued the company at approximately $112.5 million (Series C valuation of $450 million represented roughly 4x the Series B valuation according to CEO Art Agrawal). At the time of the Series C round, CEO Art Agrawal attributed the valuation to Jerry's annual recurring revenue, growing customer base, and total addressable market, though he declined to disclose the specific ARR figure beyond stating it was growing "at a very fast rate." Agrawal confirmed the company "continues to meet and exceed growth and revenue targets" with its core insurance comparison product. The company had achieved 10x revenue growth in 2020 compared to 2019 and was reported to be on track for robust growth in 2021. Jerry customers saved approximately $800 per year on car insurance on average, and the app held the #1 rating and most downloaded status in its category with a 4.7 App Store rating. |
| May 2021 | Series B | Goodwater Capital (lead) | $28M | - | Jerry is a Palo Alto-based car-ownership super app that uses AI and machine learning to help users compare and buy car insurance, financing, repairs, warranties, parking, maintenance, and other services, acting as a licensed insurance broker across 50 US states with nearly 1 million customers. The company launched its insurance comparison service in January 2019 and has expanded into a mobile-first platform straddling auto, e-commerce, fintech, and insurtech sectors. Goodwater Capital led Jerry's $28 million Series B round around May 2021. At that time, CEO Art Agrawal noted revenue surged 10x in 2020 compared to 2019. Seven months later, in August 2021, Jerry raised an oversubscribed $75 million Series C led by Goodwater Capital with participation from Bow Capital, Kamerra, Highland Capital Partners, and Park West Asset Management, valuing the company at $450 million post-money and bringing total funding to $132 million. This valuation marked about 4x growth from the Series B, driven by annual recurring revenue, customer growth, and total addressable market. Jerry's recurring revenue model differentiates it from lead-generation competitors, enabling predictable growth without heavy marketing spend, and the company reported meeting or exceeding targets with high customer ratings of 4.7 in the App Store. Subsequent funding included a Series C - II in August 2023, with total raised reaching $242 million across seven rounds. |
| Oct 2018 | Series A | Bow Capital (lead) | $9M | $21M | Jerry is an AI-powered car ownership super app that helps users save time and money on car expenses, starting with car insurance comparison and purchase services. The company, founded in 2017 by the YourMechanic team including CEO Art Agrawal, launched its insurance product in 2019 and expanded into vehicle financing, repair, warranties, parking, and maintenance. In early 2018, Jerry raised approximately $2.17 million across Series AA-1 ($2.07MM) and AA-2 ($100K) rounds at a post-money valuation of $20.52 million, led by Bow Capital with participation from Y Combinator, SV Angel, FundersClub, Liquid 2 Ventures, Plug and Play Ventures, Zillionize, and Immad Akhund. Bow Capital continued as a key investor in later rounds, including Series B in 2021 led by Goodwater Capital and Series C raising $75 million at $450 million valuation. Jerry achieved rapid growth, serving over 1 million customers as a licensed insurance broker in all 50 U.S. states by 2021, with revenue surging 10x in 2020 versus 2019 and strong ARR growth driving higher valuations in subsequent financings. Total funding reached $163.64 million across multiple rounds. |
Who has invested in Jerry?
7 investors have backed Jerry across its funding rounds, including Goodwater Capital, Highland Capital Partners, Bow Capital, Park West Asset Management, Plug and Play and TriplePoint Capital.
Lead investors include Park West Asset Management, Goodwater Capital and Bow Capital.
Jerry Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 3 | Lead | May 2021 | |
| Lexington, KY | 2 | Participant | Aug 2021 | |
| San Francisco, CA | 2 | Lead | Oct 2018 | |
| San Francisco, CA | 2 | Lead | Aug 2021 | |
| San Francisco, CA | 1 | Participant | Aug 2023 | |
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Start Free TrialJerry Competitors
Jerry competitors include listed companies like Bumble and Kurashiru, and private ones like Car2Go, Banma Kuaipao, Dazhongkanche and Chalo.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Private | - | - | $341M | - | |
 China | Private | - | - | $725M | - | |
| Beijing | Private | - | - | $735M | - | |
 Mumbai | Private | $15M | - | $450M | 30.0x | |
| United States | Publicly listed | $966M | ($793M) | $392M | 0.9x | |
 Japan | Publicly listed | $109M | $24M | $345M | 2.2x |
Jerry Public Comps
Jerry is still privately-owned, but its public comps include Bumble, MHA, Waterdrop, TWFG, Kurashiru, Yuanbao, Dear U, Auto Nejma, Wiz Co. and VNG Corp..
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $966M | ($793M) | 0.8x | 0.9x | (1.0x) | 2.9x | |||
| $338M | $59M | 1.5x | 1.5x | 8.6x | 7.7x | |||
| $593M | $63M | 0.5x | 0.4x | 4.3x | 3.8x | |||
| $234M | $56M | 2.3x | 1.8x | 9.3x | 6.7x | |||
| $109M | $24M | 2.5x | 2.2x | 11.5x | 11.4x | |||
| $652M | $209M | - | - | - | - | |||
| $61M | $16M | 3.0x | 2.8x | 11.4x | 6.7x | |||
| $444M | $58M | 1.4x | - | 10.7x | - | |||
This data is available for Pro users. Sign up to see all Jerry competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Jerry
| When was Jerry founded? | Jerry was founded in 2017. |
| Where is Jerry headquartered? | Jerry is headquartered in San Francisco, CA, United States. |
| Is Jerry publicly listed? | No, Jerry is a private, VC-backed company. |
| What is Jerry's valuation? | Jerry was last valued at $450M in its Series C in August 2021. |
| How much funding has Jerry raised? | Jerry has raised $222M across 4 funding rounds. |
| What was Jerry's last funding round? | Jerry's last funding round was a $110M Series C in August 2023, led by Park West Asset Management. |
| Who are Jerry's investors? | Jerry's investors include Goodwater Capital, Highland Capital Partners, Bow Capital, Park West Asset Management, Plug and Play, TriplePoint Capital and Kamerra. |
| Which companies are comparable to Jerry? | Companies comparable to Jerry include Car2Go, Banma Kuaipao, Dazhongkanche, Chalo, Bumble and Kurashiru. |
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