Automatic Labs Raises $24M in Series B Funding

Funding Rounds

▤ Summary

Backers included CDK Global, USAA, Comcast Ventures.Y Combinator, RPM Ventures, Anthemis Group, Amicus Capital, and angel investors Mark Goines, Jared Kopf, Rob Chandhok and Dan Rose.The company, which has raised $32m in total, intends to use the funds to accelerate growth and continue expanding its recently launched app gallery and developer platform.Founded in 2011 by CEO Thejo Kote, Automatic combines a smartphone app and in-car device to allow drivers to enhance their driving experience with a host of connected services.Applications diagnose engine trouble, detect accidents and send emergency response, and help customers save money on driving.Automatic is available for sale at Apple.com, Best Buy, Target, Amazon, and direct on its own site for $99.95 with no ongoing service fees.

$ Funding

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Amount $24.0M Total raised
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Date June 26, 2015 Announcement date
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Investors - Lead investors
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Company http://automatic.com Funded company

▥ Classifications

industries
No industries detected
applications
Accounting and Taxes

◇ AskAI Classifications

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▦ Linked Companies

Automatic Labs
$100M to $250M