Noting a “new wave of growth” in the auto reconditioning industry, Mobile Tech RX made three announcements in the area of its “recognition and adoption.” One of those announcements is that the company has invoiced $1.7 billion through its app by Mobile Tech RX users.
Mobile Tech RX describes itself as an “all-in-one business management software solution for modern auto reconditioning businesses,” and its second announcement is that it secured a $4.2 million Series A funding round led by Silverton Partners this past June.
The third announcement: The company plans to launch what it says is the industry’s first detailing solution in the first quarter of this year. Mobile Tech RX says the launch will help small business owners make more money with estimating technology.
Regarding the first announcement on the $1.7 billion in transactions processed through its platform, Mobile Tech RX said that represents “a momentous shift in the auto reconditioning industry” toward digital estimating, invoicing, and payment processing.
The company said not being able to charge customers for what their skills and services are worth is the most pressing issue that auto reconditioning technicians currently face.
Most dent, detail, interior, paint, and wheel repair businesses still operate mostly on pen and paper, Mobile Tech RX said. That has resulted in stagnant prices and nonstandardized service rates.
Many consumers want to barter and drive down prices when they enter an auto reconditioning business. That practice is a “detriment” to the industry, the company said.
Mobile Tech RX said it is on a mission to change that through its mobile app and business software.
Helping auto recon businesses consistently make up to 30% more revenue per job by using its variable-based estimating and invoicing technology is the company’s goal.
Mobile Tech RX says that for many of its customers, that goal is already coming to fruition.
One of those customers is Daniel Gromm, who is chief executive officer of Dent Dynamics in Santa Rosa, Calif. Gromm said that one year after starting to use Mobile Tech RX, the company raised its income by $93,000.
Mobile Tech RX chief executive officer and co-founder Eric Garves is a former PDR professional, and he and business partner Daimen Simmons spent years looking for a method to help them professionally estimate and invoice and earn more money for the business.
They could not find one. So after deciding to create their own, they launched the first version of Mobile Tech RX in 2015.
“Mobile Tech RX was built by auto reconditioning business owners who know how the industry works and what technicians need,” Garves said.
Garves continued, “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.”
Regarding the second announcement, Garves and team secured a $4.2 million Series A funding round led by Silverton Partners last year to catalyze the company’s goals of expanding its head count, growing its customer base and use, and launching products into new markets.
Mobile Tech RX says that since the funding announcement this past June, its headcount has increased by almost 50%. Customer expansion has increased by almost 15%.
And regarding the third announcement, the company has started a wait list for its new detailing product set for a spring 2020 launch.