Pressing.ly Inc., a roadside help platform, introduced that it has efficiently raised $21 million in Collection B Funding Spherical from a bunch of latest automotive-related traders.
The funding spherical was led by BMW i Ventures, Porsche Ventures, and InMotion Ventures, the enterprise capital fund Jaguar and Land Rover, in an try and modernize roadside help packages.
, the Vienna, Virginia-based startup, based by Ric Fleisher, Surendra Goel, Luke Kathol, Lokesh Kumar, Rick Robinson, and Chris Spanos in 2013, provides a 24/7 digital-first roadside help service. Greater than 200,000 drivers have signed as much as Pressing.ly app community straight, along with million others who’ve accessed by way of integrations with mapping and related automotive platforms like Volvo Roadside Plus, Roadside Help, Uber and DriveMode.
Spanos, one of many co-founders, mentioned that the contemporary capital could be used to gas “world-class buyer experiences,” and to develop Pressing.ly stronger because it groups up with BMW Group to unite its service with the latter’s BMW help providing. Pressing.ly has been chosen as the seller associate to supply roadside help to homeowners of the automaker’s model within the U.S. together with BMW, Motorrad, Mini, and Rolls-Royce Motorcars.
Spanos, who was beforehand Common Supervisor at Restore.com and now serves because the CEO of Pressing.ly, additional mentioned,
“We’re really gratified by the assist of our traders, together with a number of the world’s high international automotive manufacturers, as we work to outline the way forward for mobility and roadside help expertise prospects demand and deserve. We look ahead to persevering with to advance our related providers throughout the worldwide automotive, insurance coverage, and mobility markets, the place we now have persistently pushed will increase in buyer satisfaction.”
The roadside help app works on 4 pillars specifically requests, dispatching, communication and completion. Prospects name Pressing.ly name middle brokers who ship them a textual content that permits them to share their actual GPS location. Then, Pressing.ly cloud backend “programmatically” matches these prospects with one of many many hundreds out there autos within the U.S., Canada, and Puerto Rico.
Throughout this, all of the events concerned together with prospects, brokers, suppliers, and even the client’s members of the family can chat with one another with real-time monitoring.
Pressing.ly’s mannequin is a bit like Uber; crews can see and reply to jobs closest to them, whereas prospects can observe the estimated time of supplier’s arrival.
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Buyers Ideas About Pressing.ly
Sebastian Peck, managing director for InMotion Ventures, mentioned within the assertion,
“We essentially imagine that OEMs must work extra carefully collectively to create the foundations for improved, technology-enabled buyer expertise, and totally harness the unbelievable entrepreneurial power that’s driving the digital transformation of our trade.”
Mike Hernandez, supervisor for BMW Roadside Help and Mobility Providers, mentioned,
“Pressing.ly’s revolutionary and versatile modular platform permits us to appreciate our imaginative and prescient for a totally clear and built-in roadside help expertise for BMW drivers and riders. The workforce at Pressing.ly understands the expectations of our prospects and have demonstrated the power to tailor packages and options of their software program.”
Urgently’s Earlier Funding Rounds
Properly, this isn’t the primary time that this highway help startup is elevating funds. It’s earlier funding of $10 million and $7 million Collection B in October 2017 and Collection A in September 2015 introduced the whole increase to $39.7 million.
One other roadside help competitor Honk raised $18 million in funding in 2018 and signed a contract with large Farmers Insurance coverage Group in 2017.