![]() “I am old enough to say this is the company I want to list myself,” he says. With Automile, Nylander believes he's got a chance to outstrip both of those if he can meet his own targets like next year's plan to reach $17 million in annualized recurring revenue. ![]() Receive alerts and reports when you speed over the posted speed limit. A live map allows you to easily access all your vehicles and assets. Automile can even be used to track personal property. By that time Nylander was long gone JAYS never became the type of breakout success that has resonated with consumers for years since. Trusted by small, medium, and large businesses. His second company, a high-end headset and headphone maker called JAYS, he handed off to other management before they took it public in Sweden. The eventual goal this time around is different, too. The new funding brings Automile’s total raised to date to $47 million, with investors SaaStr Fund, Point Nine Capital, Dawn Capital and Salesforce Ventures are returning in the round. spans 300,000 alone. But he has a lot more help this time from venture capitalists who like the predictability of Nylander's contracts, too. The market of businesses with between one and 10 vehicles, the entrepreneur says, in the U.S. With relatively small customers compared to competitors like Fleetmatics, Nylander will need to maintain his growth rate across many more thousands of small customers if that’s to become a reality. And it’s a fast growing company in a wide open market that’s seen the older leader, Fleetmatics, get gobbled up for $2.4 billion. It’s already got four offices, three in Europe including an engineering team in Nylander’s native Sweden. Automile works with 7,000 paid customers today who have it on pace to make recurring revenue of $6 million this year, growing between 8% and 10% each month. The contracts are relatively small and the customers lacking the viral potential of young music fans, but what Nylander has now is a steadily growing business. The typical company has eight cars connected by Automile, paying between $15 and $25 for each one per month. The startup he launched, Automile, sells to customers like plumbers and construction firms, who pay to install a piece of hardware in their vehicles and then track their movements and status through an app. With a significantly larger combined subscription base, we can build a global telematics leader with scale economies and an attractive value proposition to our customers,” added Nylander.Nylander had looked at connected health ideas before settling on fleet vehicle management software as an area that would combine his electronics expertise with the revenue model of software-as-a-service. Together with ABAX, we share the same objectives of creating shareholder and stakeholder value. “My goal has always been to define Automile by high growth, good gross margins and profitability. With ABAX,we can now deliver an even broader offer,” commented Jens Nylander, CEO and co-founder of Automile. “At Automile we have an obsession with constant product development to exceed customer expectations. Under the deal, both existing customers as well as new customers will have access to the full product range from ABAX and Automile. Together with Automile, we will be at the forefront of innovation with the most modern, open, and advanced telematics platform.” Morten Strand, Group CEO of ABAX, said: “The acquisition is an important step for us to further strengthen our operations and our position in the Nordics, Europe, and globally. ABAX customers will also benefit from the development of new initiatives and value-added connectivity services. ![]() Quite literally the largest selection of new an used vehicles anywhere in the state is found in one convenient destination. ![]() ![]() (Route 14) and Rockside Road south 1/2 mile and east 1/2. Terms of the deal have not been disclosed but the acquisition will enable Automile customers to enhance their current solutions with full access to the ABAX global IoT network. The Bedford Automile now stands as 24 new car/truck franchises that extends approximately from the intersection of Broadway Ave. The business has some 87,000 subscribers to its core service. It’s headquartered in the US but also has customers in Sweden, Norway and the rest of Europe. Jens Nylander, CEO and co-founder of AutomileĪutomile provides SaaS telematics, including real-time GPS fleet and asset tracking, speeding, routing, dispatching and driving behaviour tools. ![]()
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