Tuesday, January 29, 2019

Inmotion Ventures Invests in Urgent.ly as Part of $21 Million Round

InMotion Ventures, Jaguar Land Rover’s venture capital fund, has announces its investment in Urgent.ly, the connected roadside assistance service supported by a cutting edge technology platform.

Founded in 2013, Urgent.ly is a full-service roadside assistance provider, taking advantage of connectivity to offer a fully integrated recovery service from first notification to repair. The geo-location of Urgent.ly’s customers and their vehicles means the best-rated and closest providers with the right equipment are algorithmically matched, assigned and dispatched to help the customer. All of these steps – including ETAs, provider tracking, communications and ratings – are connected through Urgent.ly’s seamless, end-to-end digital experience.

In just two years of operations in the USA, Europe and Asia, Urgent.ly has 45 000 connected recovery vehicles on its platform and has signed deals with several large auto manufacturers and insurers.

InMotion Ventures invests alongside BMW i Ventures and Porsche Ventures, supporting Urgent.ly’s ambition to become the market-leading provider of roadside assistance services in the USA, and ultimately, globally.

“We are truly gratified by the support of our investors, including some of the world’s top global automotive brands, as we work to define the future of mobility and roadside assistance experience customers demand and deserve,” said Chris Spanos, CEO and co-founder of Urgent.ly. “We look forward to continuing to innovate our connected services across the rapidly evolving global automotive, insurance and mobility markets, where we have consistently driven increases in customer satisfaction over the legacy analog models that have defined the industry for the past 70 years.”

Sebastian Peck, Managing Director at InMotion, said: “Established automotive manufacturers have a responsibility to develop and fund cutting-edge innovations in the mobility and travel sector. With Urgent.ly, customers will be able to receive an end-to-end digital experience for their premium vehicles. InMotion is incredibly excited to support Chris and the Urgent.ly team throughout this exciting phase of growth.”

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