Investments

Porsche, BMW-Backed Urgent.ly Raises $21M For Roadside Assistance

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Roadside assistance startup Urgent.ly has raised $21 million in a Series B round that included venture arms of BMW, Porsche and Jaguar Land Rover.

Urgent.ly’s platform supports roadside assistance services in North America, Europe and Asia, using artificial intelligence and geo-location to connect drivers, service providers and automotive manufacturers in order to provide the fastest help during a breakdown.

“Urgent.ly is an innovative platform solution which impresses with its speed and transparency. It is also internationally scalable. We are convinced that it can help increase customer satisfaction levels in critical situations,” Kilian Sauerwald, director aftersales region and market development at Porsche, said in a press release. “The team at Urgent.ly sets itself apart due to its well-founded expertise within the customer and technology business. This is why we chose a strategic investment.”

Founded by Chris Spanos, Surendra Goel, and Luke Kathol, Urgent.ly doesn’t charge annual membership fees like other roadside assistance services. Instead, users request help through the app, which connects them with local services nearby.

“The support of our investors confirms our strategy and business model. We are aiming to create a range of services for the mobility and roadside assistance industry which meets the expectations and requirements of our customers,” said Chris Spanos, CEO and co-founder of Urgent.ly. “We look forward to continuing to advance our connected services across the global automotive, insurance and mobility markets.”

In addition to its participation in funding, BMW has also signed Urgent.ly as a vendor partner for its roadside assistance platform, BMW Assist.

“The old model of roadside assistance must make way for a modern, more digital approach,” Kasper Sage, a partner at BMW i Ventures said, according to reports. “Urgent.ly will allow OEMs around the world to provide their customers the kind of real-time and connected digital experience they now expect in everything from food delivery to ride-sharing.”

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