AutoServe1, a tablet based inspection platform for auto service centres, announced this week that it has raised growth capital from Monnsoon.
The Toronto-based AutoServe1 says it will use the funds to expand on its existing software product suite and add additional sales headcount. Its latest investor, Monnsoon, also hails from Toronto. The early-stage investor was launched earlier this year out of Monteco, an incubator-like company.
AutoServe1 helps auto service centres increase sales per vehicle-visit by more clearly explaining the benefits of repairs required on a customer’s vehicle and mitigating the lack of trust.
“Now that we have proven the value of our software platform in the marketplace, we are pleased to be working with Monnsoon in order to scale our business,” said James Cuthbert, AutoServe1's president.
“AutoServe1 perfectly fits our investment strategy, which allows us to accelerate a software company with significant growth potential and market opportunities by leveraging a combination of capital, our network and expertise,” said Alan McMillan, Managing Director of Monnsoon.
The amount invested was not disclosed.