Investments in Germany’s Vimcar and Switzerland’s Avrios help customers adapt to new regulatory environment, EVs and rising fuel costs
London, 5 January 2023–(BUSINESS WIRE)–Battery Ventures, a global technology-focused investment firm, today announced the launch of a complementary cloud software company serving the growing European fleet management sector. announced an agreement to lead a joint growth equity investment in the two companies.
This press release features multimedia. Read the full release here: https://www.businesswire.com/news/home/20230105005167/en/
Berlin-based Vimcar and Zurich-based Avrios are leading companies in managing fleets of vehicles, as well as monitoring fleet operations, tracking vehicles, controlling costs, reducing emissions, and managing fleets of vehicles with specific expertise. We provide complementary software solutions for the most demanding European companies. Observe local regulations. Together, Vimcar and Avrios employ more than 250 people and serve tens of thousands of customers across Europe in industries such as construction, technical services, healthcare, manufacturing and government.
Battery’s goal is to eventually merge two SaaS (software as a service) companies to create a large pan-European player that will grow through product innovation and possibly acquisitions with better product features and functionality. to provide services to customers. Specific plans for the proposed combination will be revealed later.
The investment will help companies face new regulatory burdens on mobile workers, introduce electric vehicles and carpools into their fleets, and face changes caused by factors such as rising fuel costs and environmental concerns. is done when Many European SMEs still rely on manual processes to manage their fleet of cars and trucks in this environment, making cost-effective operations increasingly difficult.
Morad Eljafed, General Partner of Batteries, said: “More broadly, this investment also underscores Battery’s continued enthusiasm for software companies serving large and small businesses in certain vertical industries, including Germany. middle class Businesses essentially form the backbone of national economies. ”
Battery Principal Zak Ewen added: -Changes in the regulatory environment. ”
Andreas Schneider, co-founder and co-founder of Vimcar, said: CEO. “We couldn’t have imagined a better global partner to take Vimcar to its next stage of growth.”
Christian Siewek, Co-CEO of Vimcar added:
Avrios CEO Francine Gervazio said: She is also very excited to work with Vimcar to strengthen their market position. ”
Berlin-based Scale Up Vimcar is a leading provider of fleet management software for small and medium-sized businesses with 1 to 200 vehicles. The company’s SaaS solutions cover all aspects of fleet management, from real-time vehicle tracking to burglar alarms to route planning. The market-leading digital logbook solution meets all legal requirements of the DACH regional financial authorities. Over 60,000 customers are already using his award-winning Vimcar software. This includes customers such as Deutsche Bahn, Allianz, Free Now, Knauf, Koziol and Nippon Seiki. For more information visit www.vimcar.de.
Avrios International AG’s cloud-based fleet management platform for fleets from 20 to 20,000 vehicles drives more efficient processes, reduces costs and accelerates customer regulatory implementation. Its most important features include fully automated data collection, automated compliance controls, environmental dashboards, real-time reporting, electronic driver’s license control, and corporate car-sharing software. Avrios has over 1,000 customers, about 120,000 vehicles and his 140,000 drivers, including DB Schenker, Bayerisches Rotes Kreuz, Kyocera, Flaschenpost and Tee Geschwendner. All of the company’s servers are located in Germany and follow Germany’s strict data protection guidelines. For more information, please visit www.avrios.com.
About the battery
Battery has partnered with exceptional founders and executive teams developing category-defining businesses in markets such as software and services, enterprise infrastructure, consumer technology, healthcare IT and industrial technology, and life science tools. increase. Founded in 1983, the company helps companies at every stage from seed to early, growth and buyout, investing globally from offices in Boston, San Francisco, Menlo Park, New York, London and Tel Aviv. . Follow the company on Twitter @BatteryVentures and visit our website www.battery.com to find a complete list of Battery’s portfolio companies.
View source version at businesswire.com: https://www.businesswire.com/news/home/20230105005167/en/