The company has raised $1.8M in seed funding from Y Combinator, SV Angel, Yuri Milner, Andreessen Horowitz, Lerer Ventures, Launch Capital, Jeff Clavier, Crunchfund, Paige Craig, A-Grade Investments, Jawed Karim, Justin Waldron, Joshua Schachter and Kevin Freedman.
The company also sells parts. The basic repair and maintainene for an out of warranty non-luxury car is $120B per year. The company currently has 10 mechanics. A background check, interview and verifying of the certification of the mechanic takes place before they are hired to work for YourMechanic. Agarwal’s aim along with his team was to eliminate the fact that most of the money earned by the mechanic goes to shop owner. They are working towards eliminating the shop owner as a whole. This a good thing for both the car owners as well as the mechanic as it gives the mechanic more motive to work efficiently.
The 2,000+ Jiffy Lube service centers across North America are owned and operated by independent franchisees who set their own prices for services. Oil change prices vary by market and the type of motor oil used. The oil type is based on the type of car, the customer’s can select the oil if they wish to. An oil change at Jiffy Lube is $37.
Mr.Agrawal says that the point isn’t to compete with Jiffy Lube. Jiffy Lube focuces on preventive maintenance and not on repairs, YourMechanic’s main focus is on repairs and inspection of the cars.
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