Jaguar Land Rover’s venture capital fund InMotion Ventures has made an investment in Urgent.ly, the tech based roadside assistance service. Founded in 2013, Urgent.ly is a full-service roadside assistance provider that offers 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 steps, including ETAs, provider tracking, communications and ratings are connected through Urgent.ly’s seamless, end-to-end digital experience.
Urgent.ly has 45 000 connected recovery vehicles on its platform and has signed deals with several large auto manufacturers and insurers within just two years of operations in USA, Europe and Asia.
The InMotion Ventures investment is a part of the Series B funding round of $21 million, alongside other premium global automotive brands such as BMW i Ventures and Porsche Ventures, who already support Urgent.ly’s ambition to become the market-leading provider of roadside assistance services globally.
Powered by Jaguar Land Rover, InMotion Ventures invests in early-stage high-growth technology companies in the mobility, transportation and travel sector. Companies that have a potential to change the face of urban mobility, support an active outdoor lifestyle and deliver unique travel experiences.