Perspectives

PeakSpan’s Thesis for ServiceUp: A $200B Industry Running on PDFs, Phone Calls, and Friction

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Jack Freeman

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Yaseen Abdulridha

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Mikayla Brenman

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Eavan Murray

July 16, 2025

Fleet and insurance repair is a $200B+ market that, until now, has accepted a broken status quo — disjointed systems, fragmented shop networks, manual approvals, and endless back-and-forth.

This operational drag costs fleets valuable uptime, frustrates shops, and erodes insurer margins.

ServiceUp is re-architecting the system from the ground up: a full-stack orchestration platform that manages the entire repair lifecycle — from pickup to payment. Their dual-platform model combines a white-glove managed service (ServiceUp360) and a scalable SaaS layer (ServiceUp Connect), giving customers a centralized command center for all things repair.

Just as Grubhub digitized the restaurant delivery ecosystem, ServiceUp is becoming the control pane for modern fleet repair.

💥 Why ServiceUp Wins

Here’s what makes them special:

Full Lifecycle Orchestration
From scheduling to subrogation, ServiceUp replaces emails, phone calls, and PDFs with real-time automation — driving 30% faster repair cycle times.
Dual-Platform Model
ServiceUp360 for full-service execution, and Connect for customers managing repairs in-house — each flexing with customer needs.
Strategic Ecosystem Positioning
ServiceUp owns the repair by partnering directly with fleets — the source of the repair. Fleet Management Companies (FMCs) control ~60% of all U.S. commercial vehicles. By targeting this segment, ServiceUp positions itself to capture the majority of repairs in the space. Repairs occur withinthe corporate fleet — by partnering early, ServiceUp secures the opportunity to optimize from day one. This creates a strong moat and network effect as they deepen relationships with repair shops.
Supply Chain Infrastructure
A national network of 300+ shops (and growing), embedded SLAs, and full visibility across the process. This isn’t just software, it’s infrastructure.
Collision Repair Expertise
While most solutions focus on mechanical (because it’s easier), ServiceUp tackles the hardest part: collision. It’s where the complexity lives — and where ServiceUp thrives.
Human + Software Synergy
High-trust workflows like collision repair benefit from trained service advisors. As AI and automation advance, ServiceUp is poised to scale efficiently without compromising quality.

Bottom line: ServiceUp owns the transaction — and when you own the transaction, you own the category.

🔭 Five Macro Trends Fueling the Tailwinds

Rising Vehicle Complexity
Tech-packed vehicles make repairs more expensive and error-prone. Repair orchestration now requires intelligence, not clipboards.
Fleets Scaling Faster Than Their Ops
Rental, delivery, and service fleets are growing rapidly — but internal ops can’t keep up. In segments like last mile, every day in the shop = missed deliveries and slower service.
Digital Insurers Need Modern Claims Infrastructure
As claims move online, insurers need smarter DRP alternatives that are fast, transparent, and customer-friendly.
Shops Need Demand + Liquidity
ServiceUp brings both — repair volume and Instapay — without charging access fees. That’s a flywheel: shops get revenue and cash. What’s more important?
Legacy FMCs Are Aging Out
They’re bloated and manual. ServiceUp is the modern overlay: a tech-forward execution platform that plugs in and scales.

🚀 What’s Next for ServiceUp

As ServiceUp scales, the team is laser-focused on platform depth and ecosystem connectivity:

Strengthening the connective tissue between fleets and shops, especially in high-friction collision workflows.
Leveraging AI to accelerate scalability, reduce manual lift, and speed up critical repair steps.
Driving automation within the white-glove experience for faster cycle times, better SLA adherence, and more efficient delivery.
Expanding strategic partnerships with fleet and insurance leaders — integrating deeper to unlock full lifecycle value.
Doubling down on the Connect (SaaS) platform, delivering self-serve orchestration and infrastructure at scale.

In short: ServiceUp is evolving from a high-performing managed service into the intelligent infrastructure layer for modern vehicle repair, and we’re thrilled to be along for the ride.

We’re proud to support the team as they build the backbone of modern fleet and claims repair.

The future of repair isn’t a PDF. It’s ServiceUp.

About Jack Freeman

Jack has worked with growth-stage technology businesses his whole career and has partnered with over 25 portfolio companies at PeakSpan. He currently leads PeakSpan’s FinTech and Supply Chain investment themes. Jack was named to GrowthCap’s Top 40 Under 40 Growth Investors List in 2025. Prior to joining PeakSpan, Jack worked at Stackpop, an early-stage startup, where he helped build a SaaS spend management platform that enabled CTOs and IT teams to buy and manage internet infrastructure. After Stackpop was disrupted by AWS, Jack joined Macquarie Capital, where he spent three years executing software M&A and capital markets transactions for technology businesses.

Jack holds a B.A. in Economics from Middlebury College. Prior to Middlebury, he played Division I soccer at Seton Hall University and for the New York Red Bulls U-23 team. Jack lives in Larchmont, NY, with his wife and two dogs, Willow and Leeuwen. Once a year, Jack captains a team in a charity bike ride to the Hamptons to support his brother’s autism program, Quest, where he has raised over $100K. Since retiring from collegiate soccer, Jack has become an avid endurance athlete, completing five of the “Big Six” World Marathon Majors (London remaining), an Ironman, and a 50-mile ultramarathon. He is currently focused on improving his marathon time from 2:32:30 to sub-2:30.

About Yaseen Abdulridha

Yaseen joined PeakSpan Capital in 2021 and, over the past decade, has spent his career working on and alongside software companies at pivotal moments in their respective journeys. Before PeakSpan, he was an investment banking Associate at J.P. Morgan, advising software companies on M&A and capital raises. Earlier in his career, he worked as a quantitative analyst building statistical and machine learning models focused on portfolio risk modeling.

Yaseen holds both an M.S. and a B.S. in Quantitative Economics from Cal Poly San Luis Obispo and is a CFA Charterholder. A builder at heart, he is obsessed with the mission of being the partner of choice for growth-stage entrepreneurs and has the privilege of joining exceptional teams as they scale go-to-market, evolve product strategy, and build enduring companies. He lives in California with his wife and pinches himself every day that he gets to be part of such an amazing team and boards.

About Mikayla Brenman

Mikayla grew up in Chapel Hill, NC. She graduated Phi Beta Kappa from Amherst College with a B.A. in Spanish while also completing pre-med requirements and captaining the varsity soccer team. Before PeakSpan, she worked at a neuroscience research lab at UNC Chapel Hill and at a management consulting firm.

Mikayla joined PeakSpan in 2023 after interning at the firm the prior summer. She started on the GTM Tech, Payments & Fintech, and Supply Chain Tech investing teams and has since moved to supporting PeakSpan's Strategic Development program, where she works closely with portfolio companies on exit preparedness, strategic positioning, and long-term value creation, in addition to Investor Relations. She currently serves as a board observer for Dispatch and Routefusion. In her free time, she enjoys traveling, trying new sports, and listening to anything but country music.

About Eavan Murray

Eavan received her BSE in biomedical engineering with a minor in economics from Duke, where she discovered early on that she wanted to build a career investing in healthcare-related technologies, leading her to her first summer at PeakSpan. During this internship, she quickly realized the B2B SaaS world was vast, ever-evolving, and incredibly exciting. After returning for a second summer and eventually joining full-time in 2024, Eavan has worked across the Digital Health, Supply Chain, and FinTech teams, learning something new every day from the talented people in the network and portfolio companies. She loves working out of the New York office but always appreciates trips to the office out west to see her family in the Bay Area.

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