Jaguar Land Rover’s VC arm invests in Roadside Assistance provider Urgent.ly
InMotion Ventures, Jaguar Land Rover’s venture capital fund has invested in mobility and roadside assistance provider Urgent.ly as a part of a $ 21 million Series B round with other premium global automotive brands : BMW i Ventures and Porsche Ventures.
“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,” said Chris Spanos, CEO and co-founder of Urgent.ly. “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.”
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 enables algorithmic matching with the closest service providers who have the right equipment. ETAs, provider tracking, communications and ratings are connected through its end-to-end digital experience.
The company has plans to become the market-leading provider of roadside assistance services in the USA, and ultimately, globally. After 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.
“Established 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,” said Sebastian Peck, Managing Director at InMotion.
