Wilson Sonsini Advises Jerry on $75 Million Series C

On August 10, 2021, AI-based car ownership app Jerry announced the completion of a $75 million Series C funding round led by Goodwater Capital. The oversubscribed round values the company at $450 million. The financing was completed just seven months after Jerry's $28 million Series B round and brings total funding to $132 million. Existing backer Goodwater Capital led the oversubscribed funding round. Bow Capital, Kamerra, Highland Capital Partners, and Park West Asset Management also participated in the financing. Wilson Sonsini Goodrich & Rosati represented Jerry in the transaction.

Jerry saves customer time and money on car expenses. The company first launched its artificial-intelligence- and machine-learning-optimized car insurance compare-and-buy service in 2019 and today serves more than 1 million customers as a licensed insurance broker in all 50 states. This new funding round fuels the launch of the app's marketplaces in vehicle financing, repair, warranties, parking, maintenance, and additional money-saving services.

The Wilson Sonsini team that represented Jerry in the transaction includes Yokum Taku, Jonathan Chan, Jordan Cruzzavala, Erik Nguyen, and paralegal Amna Khan.

For more information, please see the press release. Further coverage can be found at TechCrunch.