InMotion backs Urgent.ly alongside a number of premium automotive brands
InMotion ventures is incredibly excited to announce our latest investment in Urgent.ly, the connected roadside assistance service.
As part of a $21 million Series B round, we are co-investing alongside a number of other premium global automotive brands. Supported by a cutting edge technology platform, Urgent.ly’s new model for roadside assistance has the ability to connect to autonomous, electric and connected vehicles.
As well as BMW i Ventures and Porsche Ventures, we are supporting Urgent.ly’s ambition to become the market-leading provider of roadside assistance services in the USA, and ultimately, globally.
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.
“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, InMotion Ventures 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.”