Automile Raises $34 Million to Continue Growth Trajectory
Palo Alto, California - Automile, the Internet of Things (IoT) company on a mission to transform the lives of field-service businesses, today announced that it has raised a $34 million Series B round led by Insight Venture Partners. The round was joined by existing investors SaaStr Fund, Point Nine Capital, Dawn Capital and Salesforce Ventures, and brings Automile’s total funding to $47 million.
Automile enables thousands of businesses to be more productive in the field by delivering a range of real-time mobile features in the fleet and field management space. The company's customers ranging from small and mid-sized businesses to global leaders including Ricoh and Nestle.
“Since our founding three years ago, we have brought a level of ease-of-use to an industry that has been needlessly complex. We provide a truly self-service model making it simple for any business size to track and manage all their mobile assets in real-time. In just minutes, your entire fleet becomes instantly connected and managed in the cloud,” said Jens Nylander, CEO and founder of Automile.
Automile will invest the funds in sales, marketing, and product development. The company also plans to open multiple new sales offices, both in the US and Europe.
“Automile's relentless focus on self-service and customer satisfaction has led them to efficient growth in an underpenetrated market with many small and medium-sized businesses,” said Jeff Horing, managing director at Insight Venture Partners. “We are thrilled to welcome Automile to our portfolio.”
“The DNA of Automile has always been to help, listen and learn and bring out the best experience and solve problems for businesses operating in the field. In 2018 we are launching multiple new products that will help businesses to become even more productive, and are excited to have Insight Venture Partners as part of our next chapter” continued Jens Nylander.
Automile offers a mobile-first, design-first fleet and field service management solution to thousands of businesses. It is used by businesses of all sizes across the United States and Europe to optimize fleet performance, gain greater visibility into their drivers and vehicles and ultimately improve the bottom line. With an innovative API and extensive partner program, Automile is committed to collaborating to ensure the best product possible for its customers. Headquartered in Palo Alto, Calif. and offices in Sweden and Norway, Automile continues to leverage SaaS and IoT technology to disrupt the traditional approach to fleet management. Learn more at: Website | Twitter | LinkedIn | Facebook
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $18 billion and invested in over 300 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit https://www.insightpartners.com/ or follow us on Twitter: @insightpartners.