SAN FRANCISCO--(BUSINESS WIRE)--Automatic Labs, the company bringing the power of connectivity and apps to every car on the road, today announced $24 million in Series B funding. In this round, an investment subsidiary of USAA, CDK Global, and Comcast Ventures join existing investors Y Combinator, RPM Ventures, Anthemis Group, Amicus Capital and prominent angel investors like Mark Goines, Jared Kopf, Rob Chandhok and Dan Rose. This latest financing comes on the heels of the launch of the Automatic App Gallery, an app store for your car, and an open car development platform to drive the rapidly growing ecosystem of car apps. The new investment brings the total raised by the company to $32 million and enables Automatic to continue its mission to transform the car ownership experience with a host of connected car apps, built on the Automatic platform.
“Our mission is to transform the car ownership experience by enabling the world’s best developers to build world-class apps and services for your car,” said CEO and co-founder Thejo Kote. “Our new investors are two of the most well-respected and admired companies in their industries. Together, we are building the future of the connected car, today.”
Automatic will use this new investment to accelerate growth and continue expanding its recently launched App Gallery and Developer Platform. With Automatic, nearly every car on the road today can connect to a world of third party car apps that enhance nearly every imaginable aspect of car ownership, from expensing business mileage and managing small fleets to coaching teenagers and track racing. Built using the Automatic Developer Platform, the easiest way for developers to build and distribute connected car apps, these apps let cars instantly reach an entirely new level of intelligence and utility by unlocking the power of data in the car’s onboard computer. In the coming months, the company plans to expand its developer platform and driver application offerings.
This latest round of funding is led by an investment subsidiary of USAA. USAA, one of the nation’s foremost insurance and financial services providers for military families known for its industry-leading customer satisfaction, serves 11 million members. Also participating is CDK Global who provides state-of-the-art integrated technology solutions that power 27,000 car dealerships worldwide, six of the top ten dealer groups, and a majority of all new car sales in the U.S. Together, Automatic and CDK Global will improve the sales and service experience for millions of car owners, something that hasn’t changed meaningfully since the birth of the automotive industry.
“Automatic is breathing new life into car ownership by connecting any car on the road today to a world of apps that help with everything from sending emergency assistance after a crash to easily filing expense reports,” said Victor Pascucci, head of Corporate Development at USAA. “This is an incredibly significant innovation for the automotive industry, and we are excited to invest in this future with Automatic.”
“Automatic is redefining the relationship between drivers and their vehicles through amazing experiences driven by software,” said Greg Meyer, CTO of CDK Global. “They are fostering a robust development platform for the connected car. We share their vision of the future and firmly believe they offer the best connected car platform in the market, hands down.”
Automatic turns almost any car into a connected car. By pairing Automatic’s app and in-car device, drivers are able to enhance their driving experience with a host of connected services. Automatic helps customers drive safer and smarter with applications that diagnose engine trouble, detect accidents and send emergency response, and save money. Developers can use the Automatic platform to build services and applications that use driving data with interoperable access possible to nearly every car on the road. Automatic is sold at Apple.com, Best Buy, Target, Amazon, and direct on its own site for $99.95 with no ongoing service fees. Automatic Labs was founded in 2011, and is headquartered in San Francisco. For more information, visit www.automatic.com.