Automile, a Palo Alto, California-based fleet management and IoT company, raised $7.5m in Series A funding.
Backers included existing investors Dawn Capital, Point Nine Capital and SaaStr and new investors Atomico Ventures and Salesforce Ventures.
The company intends to use the funds to R&D, marketing, and hiring talent to drive further growth in the United States and Sweden.
Led by Jens Nylander, CEO and founder, Automile offers a smart device that can be plugged into a vehicle to start managing it in seconds using its innovative mobile and web apps. It is used by businesses of all sizes across the United States and Europe to optimize fleet performance, gain visibility into their drivers and vehicles and improve the bottom line.
The company, which also provides an API and extensive partner program, has a second office in Stockholm, Sweden. Estimated revenue for 2016 is $3 million, up from $800,000 in 2015.
FinSMEs
27/12/2016