Internet of Things Company, Automile, which helps companies increase the productivity of their fleets, today announced that it has raised $6. 2 million to further accelerate growth Jason Lemkin and his new SaaStr Fund led the round, with the support of existing investors Dawn Capital and Christoph Janz, Zendesk’s early-stage investor, and his Point Nine Capital Fund. New investors in the round include the founder of Twitch, Justin Kan, the founder of Skype, Niklas ZennstrÃ¶m, and the founder of Pingdom, Sam Nurmi.
Jason Lemkin, one of Silicon Valley’s most influential think tanks and co-founder of a number of successful start-ups, has driven venture capital investments in a number of leading companies and SaaS start-ups. Collectively, his investments have increased to more than $1 billion in less than two years. Before investing in SaaStr and VC, Lemkin was CEO and co-founder of EchoSign, the web’s most popular electronic signature service, from the outset through the acquisition of Adobe Systems Inc.
Over the last 12 months, Automile has grown to serve thousands of businesses with tens of thousands of seats as more companies seek its automated, cloud-based and connected technology solutions to address common challenges in their vehicle fleets. In the last three months alone, the company has grown steadily, with a 15 per cent increase in monthly recurring revenues, while the market for IoT technology solutions like those offered by Automile will continue to grow to $30 billion by 2018. In addition, over 80 percent of the companies trying out Automile’s free 60-day trial will convert to paying customers.
Lemkin said, ‘IoT space has enabled new SaaS startups to take advantage of a global opportunity to combine commoditized sensors with analytics, offering a completely new set of tools for progressive companies to solve their daily pain points in the field. Automile has pioneered a new way to help these companies leverage IoT’s promise to address their most critical business challenges and gain the insight they need to continually improve their operations. ”
‘Automile has broken new ground and introduced a level of automation never seen before, helping more companies finally replace their outdated, error-prone and time-consuming processes with advanced IoT offerings,’ said Jens Nylander, CEO and founder of Automile. ‘As we continue to see so much momentum for our solutions, it is clear that the market wants more. This latest investment will help us meet growing demand, while allowing us to further push the limits of what automated fleet technology can do. ”
Nylander went on to say, “We are particularly grateful to have the guidance of Jason Lemkin, who will join our board with this investment. A true leader in technology space, Jason has founded and helped high-growth SaaS startups to move forward; with its support, we can continue to build momentum and brand awareness for Automile. ”
On the Automile
Automile is an Internet of Things (IoT) company dedicated to building services for businesses with vehicles and drivers, delivered through innovative, cloud-based, mobile-optimized and design-first experiences. Automile helps to solve common difficulties in maintaining compliance, reducing fuel consumption, reducing risks and increasing productivity By leveraging sensors in smartphones or via the Automile Box, businesses can manage their vehicles easily and efficiently and quickly realize cost savings. Businesses can sign up to try Automile free of charge
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