Houston-based automotive technology company scales business growth with support from leading growth equity firm
HOUSTON–(BUSINESS WIRE)–Tekmetric, the leading cloud-based shop management system for automotive repair shops, today announced the close of a growth investment from Susquehanna Growth Equity (SGE), an entrepreneur-centric growth equity firm exclusively focused on software and information services.
The partnership enables founder-led Tekmetric to continue scaling its business as the highest-rated shop management platform in both existing and new markets. The funding will allow Tekmetric to significantly grow engineering and technical teams, as well as execute on its bold product roadmap to better support the thousands of automotive repair shops using Tekmetric across North America.
“Since our launch in 2016, Tekmetric has always aspired to deliver the greatest possible value to auto repair shop owners who partner with us to run their business,” added Prasanth Chilukuri, Co-Founder and Co-CEO of Tekmetric. “Susquehanna’s deep industry expertise and support of product-led growth makes the company an ideal partner as we scale our business, boosting our platform’s advanced products and providing the highest caliber of service for our customers.”
Tekmetric has rapidly disrupted the automotive repair sector, quickly becoming an industry leader in the three years since product launch. It offers a comprehensive SaaS shop management system, built under the direction of Co-Founder and Co-CEO, Sunil Patel, based on his experience as a former auto repair shop owner.
Shop owners use Tekmetric’s intuitive platform for all their business needs, from digital inspections and integrated payments to direct customer communication within the system – an industry first. Tekmetric’s ongoing upgrades and new features help thousands of shops across the nation streamline processes, keep shop data secure and increase transparency and visibility among customers.
“As a former shop owner myself, I know how difficult it can be to find a system like Tekmetric that shop owners can trust with their business,” said Patel. “At Tekmetric, we strive to build strong relationships with our users to support their business growth. The SGE team has the same mindset, which makes them an ideal partner as Tekmetric continues to grow in the industry.”
“We are excited to partner with Tekmetric on its journey to revolutionize the automotive repair industry,” said Aaron Flack at SGE, who will join the company’s board. “We are extremely impressed with what Tekmetric has achieved in just a few years. The company’s understanding of the automotive repair process and reputation among repair shop owners are exceptionally strong. We look forward to supporting Sunil and Prasanth, and their talented team through Tekmetric’s next stage of growth.”
About Tekmetric
Tekmetric, a Houston-based auto repair technology company, offers a cloud-based platform that enables auto repair shop owners to enhance productivity and increase profitability through its streamlined workflow management processes. Designed by a former shop owner, Tekmetric’s platform drives shop efficiency through real-time data, a customizable user interface and customer-centric communication tools. Since its launch in 2016, Tekmetric has disrupted the industry with its robust fully-integrated system, developed with an emphasis on customer transparency and user collaboration. For more information, visit www.tekmetric.com.
About Susquehanna Growth Equity
Susquehanna Growth Equity (SGE) invests in growth stage companies in the software, information services, internet and financial technology sectors. SGE is backed by a unique and patient source of capital which enables the firm to give management teams and entrepreneurs freedom and flexibility to maximize growth. The firm has invested over $2.5 billion dollars in over 75 companies during the past 15 years, and has portfolio companies across the US, Canada, Europe, and Israel.
To learn more, please visit www.sgep.com.
Contacts
Tekmetric
Sara Jendrusch-Wong
sjendruschwong@sunwestpr.com
(469) 547-0255
Susquehanna Growth Equity
Gasthalter & Co.
sge@gasthalter.com
(212) 257-4170
