Spiffy adds another $10M to Series B funding round
Spiffy has landed a $10 million investment from Edison Partners that extends its Series B funding of $22 million announced last fall.
The new investment bumps the Series B to $32 million and gives Spiffy additional capital to expand geographically and for recruiting.
The on-demand car care, tech and services company has grown in the last eight years from being a mobile car wash and detail startup in North Carolina’s Research Triangle region to now being a B2B and B2C vehicle maintenance and care service providers in more than 30 markets across the country, serving both individual consumers and fleets.
“Spiffy has grown into a formidable leader within the mobile car care industry — making it easier for both consumer and fleet clientele to save time with truly convenient services, something we have seen gain exponential value coming out of the pandemic,” said Lenard Marcus, general partner at Edison Partners, in a news release.
“We’ve enjoyed watching their team consistently rise to overcome new challenges for their customers and look forward to supporting their continued growth in the months and years ahead,” Marcus said.
In addition to helping facilitate Spiffy’s expansion throughout the 50 largest U.S. markets, the funding will also help Spiffy expand on its service offerings for consumers and fleets in existing markets — services like the recently announced Smart Tumbler device that helps remove odors stemming from organic materials, smoke molecules and bacteria.
Spiffy also plans to use the funding for recruitment and retention at its Durham, N.C. headquarters as well as throughout its markets.
“I’ve been quoted a lot over the last few years saying vehicles are going to change more in the next 10 years than they have in the last 110, and we are really seeing those drastic shifts now throughout the automotive industry. Our team operates at the intersection of a direct customer experience and aiding larger fleets in need of clean, odor-free, and well-maintained vehicles. Both segments need a trustworthy solution, and that’s where Spiffy comes in,” Spiffy chief executive Scot Wingo said in a release.
“With this investment from Edison Partners rounding out our recent Series B, we’re poised to expand our vision for the next level of scale.”