202012 Nov
Mobility-as-an-amenity provider Envoy secures $81 million
Type
Funding Rounds
Funding
202012 Nov
$70MOthers
Source
Finledger
Summary

Those services – presented as an “exclusive amenity” – include electric car-sharing and EV charging as well as a “full-service” mobile app for registration, reservation, and vehicle access, car washes, maintenance and insurance. The COVID-19 pandemic has been a tailwind for the company, with monthly revenues growing more than 160% since initial lockdowns in April, according to Drew Hopkins, Envoy’s chief growth officer. “Developers can also leverage Envoy’s business model to reduce parking requirements, which is a huge cost saving.” Heather Widman, a principal at Building Ventures, said her firm invested in Envoy because it “makes manifest for its customers today a future that embraces electric mobility, the sharing economy, utilization of space, and the tenant experience.” “They have latched onto an idea whose time has come, harnessing the unique capabilities of a boom in electric vehicle offerings and found two go-to-market vectors – residential and commercial real estate – to deploy against,” Widman wrote via email. “We believe that Envoy will not only become a demanded amenity across communities but will also help usher in the electric mobility revolution.” On Wednesday, FinLedger covered the news of another proptech startup raising money. Spruce, an on-demand services startup focused on the multifamily industry, raised $8 million in a Series A round of funding.

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