Jerry Services Inc. (doing business as Jerry) is an American company based in

Palo Alto, California Palo Alto (; Spanish language, Spanish for "tall stick") is a charter city in the northwestern corner of Santa Clara County, California, United States, in the San Francisco Bay Area, named after a Sequoia sempervirens, coastal redwood tree kno ...

. Jerry's

mobile app A mobile application or app is a computer program or software application designed to run on a mobile device such as a phone, tablet, or watch. Mobile applications often stand in contrast to desktop applications which are designed to run on d ...

offers

vehicle A vehicle (from la, vehiculum) is a machine that transports people or cargo. Vehicles include wagons, bicycles, motor vehicles (motorcycles, cars, trucks, buses, mobility scooters for disabled people), railed vehicles (trains, trams), ...

and

home insurance Home insurance, also commonly called homeowner's insurance (often abbreviated in the US real estate industry as HOI), is a type of property insurance that covers a private residence. It is an insurance policy that combines various personal insura ...

comparisons, among other services.

Business model

Jerry's

allows users to compare and buy

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

, primarily for

vehicle insurance Vehicle insurance (also known as car insurance, motor insurance, or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury ...

but also

. The software uses

artificial intelligence Artificial intelligence (AI) is intelligence—perceiving, synthesizing, and inferring information—demonstrated by machines, as opposed to intelligence displayed by animals and humans. Example tasks in which this is done include speech r ...

and

machine learning Machine learning (ML) is a field of inquiry devoted to understanding and building methods that 'learn', that is, methods that leverage data to improve performance on some set of tasks. It is seen as a part of artificial intelligence. Machine ...

, and Jerry generates revenue by earning a percentage of premiums when consumers purchase policies from insurance carriers. Jerry has expanded the "super app" to provide services related to maintenance, financing, repair, warranties, and

parking Parking is the act of stopping and disengaging a vehicle and leaving it unoccupied. Parking on one or both sides of a road is often permitted, though sometimes with restrictions. Some buildings have parking facilities for use of the buildings' ...

. The app is free to use and available in all fifty

U.S. state In the United States, a state is a constituent political entity, of which there are 50. Bound together in a political union, each state holds governmental jurisdiction over a separate and defined geographic territory where it shares its sove ...

s. The company is a licensed

insurance broker An insurance broker is an intermediary who sells, solicits, or negotiates insurance on behalf of a client for compensation. An insurance broker is distinct from an insurance agent in that a broker typically acts on behalf of a client by negotia ...

for approximately 1 million customers in the U.S., as of August 2021.

History

Jerry was co-founded by Art Agrawal, Musawir Shah, and Lina Zhang in 2017. The company's mobile app launched in January 2019. Agrawal, who previously co-founded

YourMechanic YourMechanic is an American company that provides mobile automotive repair and maintenance services to vehicle owners at their location, such as their home or office. The privately held startup company was originally based in Mountain View, Cali ...

, is Jerry's current

chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especial ...

(CEO). Shah and Zhang serve as chief technology officer and vice president of operations, respectively, as of 2021. Based in

, Jerry expanded into

Lockport, New York Lockport is both a city and the town that surrounds it in Niagara County, New York. The city is the Niagara county seat, with a population of 21,165 according to 2010 census figures, and an estimated population of 20,305 as of 2019. Its name d ...

in 2019. The company has 186 employees, as of August 2021. Approximately 60 of the 70 employees in Lockport hold sales and service positions at a call center housed in Harrison Place, a facility formerly operated by the

Harrison Radiator Corporation Harrison Radiator Corporation was an early manufacturer of automotive radiators and heat exchangers for crewed spacecraft and guided missiles, as well as various cooling equipment for automotive, marine, industrial, nuclear, and aerospace applicat ...

, which is now part of the Western New York Incubator Network and managed by University at Buffalo Business and Entrepreneur Partnerships. Jerry also has an office in

Toronto Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the ancho ...

, as of 2021. Jerry's revenue increased ten-fold between 2019 and 2020. In 2021, Jerry published a report on driver performance based on data about violations.

Funding

Jerry has raised $132 million in

venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to start-up company, startups, early-stage, and emerging companies that have been deemed to have high growth poten ...

since 2017. Goodwater Capital led the $28 million Series B round in May 2021; other angel investors included Johnson Cook and Timothy Sheehan (president and CEO of Greenlight, respectively), Brandon Krieg and Ed Robinson of Stash, Jon McNeill (

Lyft Lyft, Inc. offers mobility as a service, ride-hailing, vehicles for hire, motorized scooters, a bicycle-sharing system, rental cars, and food delivery in the United States and select cities in Canada. Lyft sets fares, which vary using a dyn ...

, Tesla, DVx Ventures), and Jay Vijayan. In August, Jerry raised an additional $75 million in a Series C round which valued the company at $450 million. Goodwater led the round, which also saw participation by Bow Capital,

Highland Capital Partners Highland Capital Partners is a global venture capital firm with offices in Boston, Silicon Valley, and San Francisco. Highland has raised over $4 billion in committed capital and invested in more than 280 companies, with 47 IPOs and 134 Acqui ...

, Kamerra, and Park West Asset Management.

References

External links

* {{Official website, https://getjerry.com Companies based in Palo Alto, California