Automatic Labs

Automatic Labs (Acquired/Merged)

  • FOUNDING YEAR: 2011
    LOCATION:
    South Africa
    REGION:
    CA
    Last Update:
    18 Oct, 2019

Description

FOCUS

PRODUCTS & SERVICES:
Connected car app for driving behaviour inormation to insurers.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Individuals, Drivers, Insurance firms
EXISTING PARTNERSHIPS:
Recently, the company partnered with AmFam to help drivers stay safe and reduce their insurance costs. The company has partnered with CDK Global, repair shops, and other automotive businesses to maintain and grow their relationships with customers. Other partners are Ford, UASS and AAA.

PEOPLE

MEDICI analysts will analyze Automatic Labs soon

TRACTION

VALUATION / MARKET CAP:
$160 MM in 2015
OTHER INFO:
AmFam and Automatic are jointly developing new integrations, such as roadside assistance and claims submission to be handled within Automatic’s app(Feb 2017).

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$31.8 Millions
DATE OF LAST FUNDING:
Jun 2015
SEED & PRIOR FUNDING:
$2.5 Millions
SEED CLOSED ON:
Jan 2012
FUNDING SERIES:
SERIES A
$5.3 Millions Closed: Jun 2013
SERIES B
$24 Millions Closed: Jun 2015
LISTED:
NO

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