BusinessWire

Mobile Tech RX Reaches Major Milestones with $1.7B in Transactions Processed through their App, a $4.2M Series A Funding Round, and New Products Launching to Transform the Auto Industry

Following a $4.2M Series A round led by Silverton Partners, Mobile Tech RX is driving a new era of digital modernization within the auto reconditioning industry and simultaneously preparing to expand into new markets.


AUSTIN, Texas--(BUSINESS WIRE)--#AutoReconAnalytics--Mobile Tech RX, the leading all-in-one business management software solution for modern auto reconditioning businesses, today announces a new wave of growth in the auto reconditioning industry and in Mobile Tech RX’s recognition and adoption:

  • In June 2019, the company secured a $4.2 million Series A funding round led by Silverton Partners.
  • Today the company announces that a total of $1.7B has been invoiced through their app by Mobile Tech RX users, reflecting a healthy auto reconditioning industry supported by new technology partners.
  • In Q1 of 2020, the company plans to launch the industry’s first Detailing solution to help small business owners make more money with revolutionary estimating technology.

Mobile Tech RX’s $1.7B in transactions processed through their platform represents a momentous shift in the auto reconditioning industry - a shift towards digital estimating, invoicing, and payment processing.

The most pressing issue faced by auto reconditioning technicians today is not being able to charge customers for what their skills and services are worth. Most dent, detail, interior, paint, and wheel repair businesses still operate predominantly on pen and paper, which has resulted in stagnant prices and nonstandardized service rates. To the detriment of the entire industry, many consumers walk into an auto reconditioning business ready to barter and drive down prices.

Mobile Tech RX is on a mission to change that with their mobile app and business software. The company’s goal is to help auto recon businesses consistently make up to 30% more revenue per job by using their variable-based estimating and invoicing technology.

That goal is already coming to fruition for many Mobile Tech RX customers. “When I started using Mobile Tech RX, in one year, I raised our income $93,000. That’s what it’s done for us,” said Mobile Tech RX customer Daniel Gromm, CEO of Dent Dynamics in Santa Rosa, CA.

Eric Garves, CEO and co-founder of Mobile Tech RX, is the driver behind the company’s momentum. Formerly a PDR professional himself, Garves and business partner Daimen Simmons spent years looking for a solution that would help them professionally estimate and invoice and make the business more money. When they couldn’t find one, they decided to create their own, and in 2015, the first version of Mobile Tech RX was launched.

“Mobile Tech RX was built by auto reconditioning business owners who know how the industry works and what technicians need. We provide the entire industry with the tools to help them make more money and grow their businesses. The sheer number and amount of transactions that have been processed through our platform - $1.7 Billion - speaks not only to the health of the auto reconditioning industry but also to the need for a solution like Mobile Tech RX,” Eric Garves said.

Earlier this year, Garves and team secured a $4.2 million Series A funding round led by Silverton Partners to catalyze the company’s goals of expanding their head count, growing their customer base and usage, and launching products into new markets. Since the funding announcement in June, Mobile Tech RX’s headcount has increased by almost 50% and customer expansion has increased by almost 15%. The company has opened a wait list for their new Detailing product that is launching in the Spring of 2020.

About Mobile Tech RX

Mobile Tech RX is transforming the auto reconditioning industry by delivering software built by technicians, specifically for technicians. The Mobile Tech RX app makes it easy for reconditioning and repair technicians to estimate, invoice, manage teams, and capture data on-the-go and from a phone. The company was co-founded in 2014 by former PDR professional Eric Garves. Since then, the company has gained thousands of users and closed a $4.2 million Series A funding round led by Silverton Partners. For more information, visit www.mobiletechrx.com.


Contacts

Ellie McCardwell
press@mobiletechrx.com