12/28/2022 0 Comments Automile loginABAX has delivered consistent growth and we believe that the company is well-positioned for the future with a proven acquisition playbook in an expanding addressable market.” This combination creates the second largest telematics player in Europe by the number of subscriptions and will enable ABAX to offer new and existing customers a wider array of value-added connectivity services with greater geographic coverage.ĭaniel Lopez-Cruz, Investcorp’s Head of Private Equity, Europe, said: “We backed ABAX to acquire Automile as the transaction enhances ABAX’s leadership position in the highly fragmented and growing telematics market, which we believe remains underpenetrated despite increased rates of adoption. The addition of Automile strengthens ABAX’s growth platform, bringing together a highly complementary portfolio of telematics solutions that will leverage ABAX’s global IoT network. The transaction has closed and positions the combined group as a global telematics leader with more than 360,000 subscriptions. With the new funding, Automile plans to more aggressively expand into Europe and build out its engineering team in Palo Alto.Investcorp, a leading global provider and manager of alternative investment products, today announced that its portfolio company ABAX (“ABAX”), the #1 telematics solutions provider in the Nordics and one of the largest in Europe, has acquired Automile (“Automile”), a Nordic based provider of telematics and internet of things (IoT) services. AUTOMILE LOGIN INSTALLWhat makes Automile different from Fleetmatics, Nylander said, is that its customers can easily install the device themselves, instead of having to wait for a professional to come out and install it for them.Īutomile anticipates a year-end revenue of $3 million, up from $800,000 last year. With the exception of Fleetmatics, which Verizon (owner of TC via acquisition of AOL) bought back in August to expand its fleet management offerings, Nylander said that few startups are focused on innovating in the corporate logistics arena. don’t have fleet management tools at all, according to Berg Insight. It turns out that most commercial vehicles (about 80 percent) in the U.S. The logistics business for enterprise (think repair services, construction and agriculture) is one of the industries that technology has yet to really dive into. “Everything that moves around in the market around our cities is what we do,” Automile CEO Jens Nylander told me. But a lot of its customers are in the businesses of plumbing, cleaning, oil, farming and concrete. Automile currently has 6,000 customers, including Samsung and Nestlé. The most expensive plan gets you mileage logs, trip statistics, expense management tools, real-time location tracking, accident alerts, risk reduction tools and predictive maintenance. Customers pay anywhere from $5.90 per vehicle per month to $19 per vehicle per month for the service once they start to use it. AUTOMILE LOGIN SERIESAutomile, a fleet logistics and management startup, has closed a $7.5 million Series A round led by SaaStr with participation from Salesforce Ventures, Niklas Zennstrom, Dawn Capital and Point Nine Capital.Īutomile provides customers with a box to install under the vehicle’s dashboard to track mileage, trips and provide route tracking. Automile ships its tracking device to customers for free.
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