Automile Raises $6.2M

What does Automile do?

Automile, is platform which helps companies increase productivity in their fleets. It provides frictionless tracking and management of assets and fleets. Their product is being used by many businesses currently. This IoT- Internet of Things company building services targets for businesses with drivers and vehicles, delivered through cloud based, innovative mobile optimized and design 1^st experiences. The company helps in solving common issues around compliances maintaining, reducing risks and fuel consumption and boosting productivity. By using the sensors in smartphone or through the Automobile Box, businesses can efficiently and easily manage their vehicles and calculate cost savings easily. Businesses can sign up for their services for free.

How much Automile was funded?

The company raised $6.2M in Series A on July 25, 2016 from Christoph Janz, Justin Kan, Sam Nurmi, Point Nine Capital, Niklas Zennström, SaaStr Fund and Dawn Capital.

Previous funding

$350k on March 31, 2014

$5M on May 6, 2015 from Dawn Capital and Point Nine Capital

What is next for Automile?

The company plans on using the latest funding raised for further accelerating its growth. In the last one year the company has grown to serve many thousands of businesses accounting for tens of thousands of seats as more companies seek its automated, connected, cloud based tech solutions for addressing common issues in their vehicle fleets. In the past 3 months alone, the company has steadily grown, with a 15% hike in month by month recurring revenue. More than 80% of the businesses trying out this company’s free 2 month trial are converting into paying clients.

More about Automile

Automile was founded in 2013 by Felix Rosén, Jens Nylander, Jacob Pontén and Hervé Soursou. The company has its headquarters in Palo Alto, California with offices in  Stockholm, Sweden, with sales and  Stockholm, Sweden, with engineering and sales for EMEA.