Toronto, Ontario — CrashBay has announced the completion of a $1.25 million funding round led by market venture capital firm Markd, with participation from other collision and insurance industry veterans.
CrashBay is a digital marketplace specializing in end-to-end collision repair solutions for fleets and carriers. Car owners and carriers can book appointments with shops across North America; repair shops can list their businesses and access a-la-carte direct repair programs. CrashBay offers customized SaaS solutions, digital payments and claims services for carrier partners.
“I’m sick of waiting 6+ months for my car repairs, and I figured everyone else is, too,” said Parker Beauchamp, managing partner at Markd. “These guys grew up in bodyshops and insurance company claims departments. Surely, there are improvements to be made. I’m excited for the CrashBay team and their opportunity.”
“This partnership with Markd signifies a major milestone for our company, giving us the fuel we need to achieve our mission of empowering car owners and carriers to connect with trusted repair shops anywhere in the world!” said founder and CEO John Harvey. “Being backed by such a prolific Insurtech fund like Markd, with their expertise and leadership, uniquely equips CrashBay as we embark on the next stage of our transformation journey.”
Markd is a venture capital company focused on funding and partnering with transformative insurtechs. It pays homage to the insurance industry’s legacy while helping design its future. Markd’s mission is to power substantial work and continually inspire more ideas to prevent hurt and loss.
For more information on CrashBay, visit www.crashbay.com.
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