Press release
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january 24, 2019 - Jaguar Land Rover
InMotion Ventures invests in Urgent.ly as part of $21 million round
- Jaguar Land Rover’s venture capital arm invests in mobility and roadside assistance provider Urgent.ly
- New model for roadside assistance with ability to connect to autonomous, electric and connected vehicles
- InMotion Ventures co-invests in the Series B round with a number of other premium global #automotive brands
InMotion Ventures, Jaguar Land Rover’s venture capital fund, today announces its investment in Urgent.ly, the connected roadside assistance service supported by a cutting edge technology platform.
Founded in 2013, #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.
InMotion Ventures invests alongside BMW i Ventures and Porsche Ventures, supporting Urgent.ly's ambition to become the market-leading provider of roadside assistance services in the USA, and ultimately, globally.
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. 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.
CHRIS SPANOSCEO AND CO-FOUNDER OF URGENT.LYEstablished #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.
SEBASTIAN PECKMANAGING DIRECTOR AT INMOTION
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