Tire Agent, with a new financing platform, raises $5 million

Tire Agent, an Entrepreneurs Roundtable Accelerator-backed startup that is looking to bring the tire industry into the 21 st century, be here today announced the close of a$ 5 million funding round led by American Family Ventures, with participation from ERA, Sidekick Fund, NY Angels and HBS Angels.

According to Consumer Reports, the average tire costs about $97. Four new tires penalties a little less than $400, and that doesn’t include added costs like taxes, fees or installation. Tire Agent wants to offset tire browsing more accessible and available to patrons, while also impelling the process more affordable.

The startup works with tire brands( more than 50, to be exact) to give useds a region to browse tires online. Moreover, Tire Agent seams in educational, easy-to-understand content about these tires to help users understand the difference between labels, simulations and how get the best value. Tire Agent too helps users find an installer near them and shows the cost of installation upfront, so there are no surprises.

Plaid founder and CEO Zach Perret recently said here on an episode of Extra Crunch Live that every company is a fintech company, and Tire Agent seems to agree.

The company has built out a tire financing scaffold announced PayPair that connects purchasers of any ascribe rating and parallels them with a variety of lenders, financing and payment plan companies to give them options on how to cover the cost of new tires.

Tire Agent also has a partnership with AllState to offer warranties to patrons, including a assurance on installing, so their speculation is protected.

” The biggest challenge for Tire Agent is getting beings to change the dres of going to an old-school tire shop and being so used to parties propagandizing a label on them ,” said Tire Agent founder and CEO Jared Kugel.” On Tire Agent, you can read through the content we’ve generated for each tire, even if you know nothing about a tire, and make an trained decision .”

Tire Agent has a network of 500+ tire dissemination stores with 50 tire firebrands and 20 wheel brands offered on the stage, with 15,000 partnered facility cores across the country.

Though the company won’t share concrete numerals, Kugel added that revenue and tires sold grew by roughly 300% from the first half of 2019 during the first six months of 2020.

This latest round raises Tire Agent’s total funding to$ 6 million.