# ForeverCar Holdings

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/forevercar-holdings

- Industry: Internet
- Headquarters: Chicago, US
- Website: www.forevercar.com
- Total disclosed funding: $10M
- Latest round: Series A (Oct 25, 2016)
- Investors on record: 2

## About

ForeverCar Holdings, Inc. specializes in subscription-based vehicle repair plans, enhancing the car repair experience for drivers through dedicated concierge services.ForeverCar Holdings, Inc. provides innovative vehicle repair services to customers in the United States. Founded in 2011, the company is headquartered in Chicago, US. It has undergone significant growth, securing a total of 5 deals, including its most recent acquisition by CUNA Mutual Group in November 2020, with financial details undisclosed. The company raised a total of USD 3.50 mn through its LATEST ROUND, which occurred in November 2020 and reflects the entirety of its fundraising efforts. No subsidiaries or parent companies have been mentioned in available records.ForeverCar provides subscription-based vehicle repair plans designed to enhance the car repair experience for drivers. Their core product offering includes a vehicle service plan that grants customers access to a dedicated repair concierge, who assists in the event of a breakdown. This concierge service aids with arranging tow trucks, negotiating with mechanics, and covering the costs of covered repairs, allowing customers to simply pay their deductible and retrieve their vehicle. The company partners with various trusted brands and organizations to offer discounted rates for these plans, targeting a diverse clientele that includes individual drivers as well as members of affiliated organizations. These services are marketed across multiple geographical regions in the United States, catering to customers seeking reliable assistance in managing vehicle repairs.ForeverCar generates revenue through its subscription-based model for vehicle repair plans, creating a direct relationship with consumers. Customers pay a monthly fee to access their vehicle service contracts, which are designed to alleviate the financial and logistical burden of vehicle repairs. The structure of transactions is primarily B2C, as customers enroll in these service plans directly through the company's website. Specific pricing plans and details regarding the structure of the service contracts vary based on the coverage selected and state regulations. The firm's offerings are positioned as essential services for drivers who desire peace of mind regarding potential vehicle repair needs, thereby creating a recurring revenue stream through ongoing subscriptions.ForeverCar Holdings, Inc. is focused on expanding its services and geographic presence. While no new products have been explicitly mentioned, the company aims to enhance its offerings and reach more customers. The acquisition by CUNA Mutual Group provides an opportunity for further investment in service improvements and market expansion. This strategic partnership may help increase the company's footprint across various U.S. markets. The recent funding will support these initiatives, fostering growth in both product development and market penetration.

## Funding rounds

- Series A, Oct 25, 2016, $10M — Method Capital, CMFG Ventures

## Investors

- Method Capital (https://capitalatlas.ai/funds/method-capital) — Series A
- CMFG Ventures — Series A