The European fleet management market is changing, companies need digital solutions to implement EU regulations and remain competitive. The global investment company Battery Ventures is investing in two complementary cloud software companies for the growing market: Avrios and Vimcar.
Companies in Europe with their own vehicle fleets face significant challenges. They need to ensure mobility, cope with rising operating costs, meet CO2 reduction targets and manage the transition to electromobility at the same time. The variety of these tasks can hardly be managed efficiently with manual processes. Battery's investment in Avrios and Vimcar should be seen against this backdrop: Digital fleet solutions are a growth market.
Vimcar from Berlin and Avrios from Zurich offer complementary software solutions for fleets. The applications can be used to comprehensively digitize fleet management, for example to plan the use of pool vehicles, optimize operating costs, keep a logbook, reduce emissions and locate vehicles. User companies can also use Vimcar and Avrios to meet all regulatory requirements and save on taxes.
Together, the two companies employ over 250 people and serve tens of thousands of customers with over 250,000 vehicles in Europe. Their customers come from industries such as construction, technical field service, healthcare, manufacturing and administration.
Battery Ventures intends to merge the two Software-as-a-Service (SaaS) companies to create a pan-European digital fleet management provider. The aim is to offer a holistic range of excellent fleet solutions and services for companies of all sizes by bundling innovative product development and, if necessary, further acquisitions. Battery will announce the specific plans for this merger at a later date.
"We are excited about the partnership with Vimcar and Avrios. We are very much looking forward to working with the leadership of both companies to bring a truly integrated fleet management offering to the market," says Morad Elhafed, one of Battery's General Partners. "This joint investment also underscores Battery's continued enthusiasm for software companies that serve both large and small and medium-sized businesses in specific industries. This includes Germany, where SMEs form the backbone of the economy."
Zak Ewen, Principal at Battery: "We see significant growth potential for the European fleet management market. More and more companies are choosing to digitize their fleet operations to cope with rising labor and fuel costs, drive fleet electrification and ensure compliance in an ever-changing regulatory environment."
"We can't think of a more suitable global partner than Battery to take Vimcar into its next phase of growth," says Andreas Schneider, founder and co-CEO of Vimcar. "As an experienced software investor in Europe and North America, Battery understands what dynamically growing enterprise solution providers like us need. We are therefore very much looking forward to working closely together."
Christian Siewek, Founder and Co-CEO at Vimcar, adds: "By partnering with Battery and Avrios, we are jointly positioned to serve more than 250,000 vehicles in Germany, Austria and Switzerland with a unique mix of telematics and software and to create a powerful, pan-European service in the medium term."
"Battery's team, including its European headquarters in London, has excellent knowledge of SaaS. Battery also has years of expertise in helping companies develop to the point. We are therefore looking forward to working together," says Francine Gervazio, CEO of Avrios. "We are convinced of the synergy potential with Vimcar and will strengthen our position in the market together."
Vimcar, a Berlin-based ScaleUp company, is a leading provider of fleet management software solutions for small and medium-sized companies with fleets of up to 200 vehicles. The SaaS solutions cover all aspects of fleet management - from real-time tracking to theft alerts and route planning. The company's own market-leading digital logbook meets all the requirements of the tax authorities in the DACH region. More than 60,000 customers already drive with Vimcar's award-winning software. These include Deutsche Bahn, Allianz, Free Now, Knauf, Koziol and Nippon Seiki. More information can be found at www.vimcar.de.
Avrios International AG is a leading provider of digital fleet management. The cloud-based fleet management platform from Avrios makes it possible to make processes more efficient, reduce fleet costs and implement legal regulations relating to fleet management. The platform is aimed at fleets with 20 to 20,000 vehicles. The most important functions include fully automated data collection, automatic compliance controlling, an environmental dashboard, real-time reporting, electronic driver's license control and corporate car sharing software.
Avrios has more than 1,000 customers with around 130,000 vehicles and 140,000 drivers, including DB Schenker, Bayerisches Rotes Kreuz, Kyocera, Flaschenpost, Hofbräu München and Tee Gschwendner. All servers are located in Germany and are subject to strict German data protection guidelines. www.avrios.com
Battery partners with founders and management teams who are building industry-defining companies in software and services, enterprise infrastructure, consumer technology, health tech, industrial technology and life science tools. Founded in 1983, the company supports its partners at all entrepreneurial stages, from seed and early stage to growth and buyout. From its offices in Boston, San Francisco, Menlo Park, New York, London and Tel Aviv, Battery invests globally. Follow the company on Twitter (@BatteryVentures) or visit www.battery.com for more information. Here you will also find an overview of all Battery portfolio companies.
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