Fueled by a Walmart contract and a recent $40 million funder, Oakland, California-based Even is expanding to Raleigh, picking the city over Atlanta and Tampa for its new East Coast headquarters.
The move has Even, co-founded by longtime Raleigh resident Quinten Farmer, following the money east - as Durham-based Bull City Venture Partners participated in its latest fundraise alongside other investors.
RESEARCH TRIANGLE PARK, N.C., July 17, 2018 /PRNewswire/ -- Get Spiffy, Inc. (Spiffy), an on-demand car care, technology, and services company, today announced the closing of a $9m fund raise led by Bull City Venture Partners.
The new capital infusion will enable Spiffy to broaden car care services, expand geographies, and develop additional channels.
All existing Spiffy investors, including IDEA Fund Partners, participated in the funding and new investors were added including strategic investor MANN+HUMMEL. Other investors included Visionary Private Equity Group, the North Carolina Venture Capital Multiplier Fund, Wolfpack Investor Network (WIN), and VentureSouth.
"Since our first investment, Spiffy has grown from three to five markets, added several new services like mobile oil change, and dramatically expanded their fleet business. With this financing, we are excited to continue to support Spiffy on their very impressive growth trajectory," said Jason Caplain, general partner Bull City Venture Partners.
"Just as e-commerce changed the retail landscape, on-demand services are changing consumer expectations around every touchpoint in a service interaction. Investing in Spiffy gives us the opportunity to explore the fascinating intersection of our products and their on-demand services," said Charles Vaillant, MANN+HUMMEL Chief Technology Officer.
"We continue to experience over 100% y/y growth and incredibly high customer satisfaction. We look forward to using the proceeds of this round to roll out more 5-star services, geographies, and channels," said Spiffy CEO, Scot Wingo.
Dr. Ron Zamber, Chairman of Visionary Private Equity Group commented, "VPEG is excited to be an investor in Spiffy as they are capitalizing on their unique approach to market in a methodical and precise manner. Beyond the rapid rise in on-demand services, Spiffy via Spiffy Blue (a proprietary on-board diagnostics solution) is also well positioned to capitalize on the explosion in the IoT market which is predicted to generate $300 Billion annually by 2020 being led by manufacturing, transportation, and logistics."