Lightbank Backs BodyShopBids

Lightbank, the venture fund started by Groupon co-founders Eric Lefkofsky and Brad Keywell, has put an undisclosed amount into BodyShopBids, a free online service that enables consumers to get auto repair estimates from local body shops. No terms were released. BodyShopBids was formed in early 2011, and is based in Chicago.

PRESS RELEASE
BodyShopBids, developers of a free online service that enables consumers to get auto repair estimates from local body shops, today announced that it has closed a seed round of outside venture capital from Lightbank, the technology investment fund started by Eric Lefkofsky and Brad Keywell.

The website, iPhone and Android apps are currently operational in Chicago and have been generating regular savings of over 70% on auto collision repairs for hundreds of consumers. BodyShopBids streamlines the process of receiving estimates on auto body damage by providing its users with a portal to easily submit photos and a short description of the damage. Users can submit their damage report from the comfort of their own home via www.BodyShopBids.com or the iPhone and Android apps.

Founded in early 2011, BodyShopBids is focused on superior customer service and a simple user experience. All body shops in the BodyShopBids network are thoroughly reviewed for quality and are subject to real time user reviews. Customer service representatives walk customers through the repair process, and users receive at least 3 bids within 24 hours. BodyShopBids currently has a network of over 160 body shops in the Chicagoland area and has saved customers a total of over $240,000 on damage repair since the Company’s launch.

“The market for auto collision repair is huge, yet many body shops still don’t utilize technology to reach this $40 billion market, and consumers feel the pain through higher out of pocket expenses and a terrible experience,” said Brad Weisberg, founder and CEO of BodyShopBids. “Our platform not only allows body shops to reach customers they wouldn’t have otherwise, but it gives consumers an entirely different and satisfying experience when getting their car fixed.”

The BodyShopBids app is available in the iPhone and Android stores today, and the service is also available at www.Bodyshopbids.com. Photos can be easily uploaded and a damage report can be completed in less than five minutes.

For more information or to file a damage report, please visit www.BodyShopBids.com.

About BodyShopBids
BodyShopBids is a Chicago based startup, funded by Lightbank, that provides a web and mobile platform to connect consumers who need auto body repairs with body shops through a unique bidding system. The company’s technology allows users to easily upload photos of damage vehicles and receive custom quotes from local body shops, all for free. For more information visit www.BodyShopBids.com or email info@BodyShopBids.com.

About Lightbank
Lightbank is an investment fund focused on early-stage technology companies. Founded by Eric Lefkofsky and Brad Keywell, who started Groupon, MediaBank, InnerWorkings, and Echo Global Logistics, Lightbank invests money, time and expertise to help innovative businesses achieve dynamic growth.

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