Urgent.ly, the Company Reinventing Roadside Assistance, Secures Strategic Funding Round led by Forté Ventures with Allianz Digital Corporate Ventures, and Verizon Ventures

Guía de Regalos

Capital Infusion Will Accelerate Growth of America’s Leading
On-Demand Roadside Assistance Service

MCLEAN, Va.–(BUSINESS WIRE)–In recognition of its success in reinventing the $10 billion roadside
assistance market, Urgent.ly
announced today that it has raised $7 million in Series A funding from Allianz
Digital Corporate Ventures
, Verizon
Ventures
, and Forté
Ventures
. Urgent.ly, America’s leading on-demand roadside assistance
service, will use this major infusion of capital to rapidly scale the
growth and expansion of its current nationwide operations.

Known as the “Uber for Roadside Assistance,” Urgent.ly is the quickest,
safest, and most innovative roadside assistance service in America.
Designed to take full advantage of the mobile on-demand economy and
connected vehicle platforms, Urgent.ly delivers unmatched transparency
allowing customers to:

  • Identify and connect with the nearest available, approved service
    provider
  • Track the service provider’s progress and ETA in realtime on their
    smartphone map
  • Have the direct contact information for the service provider
  • Get quicker response times
  • Benefit from upfront standardized pricing

Urgent.ly is also the only roadside assistance service with automatic
accident detection alerts and FamilyView SM, allowing
families to know instantly if their loved ones have requested help and
monitor the arrival of the service provider in realtime on their phone
as well.

Urgent.ly is a cost effective alternative to traditional
subscription-based auto clubs. Over 200,000 drivers across America have
found better roadside assistance service through Urgent.ly. In addition,
millions of drivers will have direct access to Urgent.ly through its
current and future integrations with a broad range of mapping and
connected car platforms – including AT&T Drive, Cost2Drive, Dash,
DriversEd.com, MapQuest, Mojio, ParkWhiz, TollSmart, Zendrive, Zubie,
and others.

“People are not happy with the old way of roadside assistance – paying
auto club memberships every year whether they use it or not and then
wait and wait when they really need help, not really knowing if or when
the tow truck will actually show up,” said Urgent.ly CEO Chris Spanos.
“Urgent.ly has changed that. Drivers now get a better, faster, safer and
more transparent experience at their critical moment of need, saving
them time, money and anxiety. We are incredibly excited about our great
strategic partners which will allow us to rapidly accelerate both the
growth of our nationwide service and our lead in driving innovation.”

“We consider Urgent.ly a great asset to our investment portfolio of
Digital Ventures,” says Marc Oerke, Head of Allianz Digital Corporate
Ventures. “The solution developed by Urgent.ly delivers a fully customer
centric value proposition in a digitalized way. Our investment in
Urgent.ly provides Allianz access to the US market of on-demand roadside
assistance and we look forward to promoting partnership opportunities
and innovation between Urgent.ly and Allianz in other markets.”

“In a market served by an overwhelming number of local and national
service providers – all with different ways of operating – traditional
roadside assistance is anything but easy,” said Jeffrey Black, Director
at Verizon Ventures. “To truly serve customers, roadside assistance
should be fast, convenient, transparent and affordable. Urgent.ly
combines the power of on-demand technology with a network of service
providers and connected car and mobile technology providers to improve
the roadside assistance experience. We’re excited to partner with
Urgent.ly and work together on the company’s next phase of growth.”

“Urgent.ly is the latest example of a growing number of companies
applying the latest available technologies to drastically improve
industries that have not seen a material change in the way they’ve
operated over the past 50 years – in this case, roadside assistance,”
said Louis Rajczi, Partner at Forté Ventures. “We believe their ability
to drastically improve the efficiency, transparency and safety in an
inherently stressful situation will rapidly attract a strong customer
following. Their relationships with global partners like Verizon and
Allianz will be invaluable in supporting the company’s rapid growth and
expansion.”

About Urgent.ly

Urgent.ly is America’s leading on-demand roadside assistance service.
Designed for the on-demand economy and the connected vehicle revolution,
Urgent.ly delivers the quickest, safest and most innovative roadside
assistance experience – all without a subscription or membership fee. It
offers transparent service with clear, flat-rate pricing, cashless
payment, and reliable help for motorists in need of a tow, tire change,
fuel delivery, jump start or lock-out service. Urgent.ly is also the
only roadside assistance service in America with accident alert
detection technology and FamilyView – a unique feature that provides
families and caregivers with peace of mind by allowing them to track the
roadside service of a loved one from start to finish. To get the free
apps or for more information, visit http://urgent.ly/.

About Allianz Digital Corporate Ventures

Allianz Digital Corporate Ventures’ mission is to strengthen Allianz by
investing in innovation, and to strengthen its investment portfolio by
facilitating strategic business development opportunities with Allianz.
Headquartered in Munich, Germany, Allianz Digital Corporate Ventures
performs venture investments for the Allianz Group, a global financial
services provider with 85 million retail and corporate clients in more
than 70 countries. In fiscal year 2014 around 147,000 employees
worldwide achieved total revenues of 122.3 billion euros and an
operating profit of 10.4 billion euros. For more information, visit: https://www.allianz.com/digital-corporate-ventures/.

About Verizon Ventures

Verizon Ventures seeks and invests in promising entrepreneurial
companies who are tackling some of today’s biggest technological
challenges for Verizon’s consumer and enterprise customers. Over the
last decade Verizon Ventures has invested in more than forty companies
covering a range of industries, technologies and market segments.
Verizon Ventures offers support to its portfolio companies with
technology and product development, market planning and sales, and
access to the networks and platforms of Verizon Communications.
Combining the power of experienced investment professionals with a
focused venture development team, Verizon Ventures connects innovators
with strategic and financial resources that advance their businesses.
For more information, visit http://www.verizonventures.com/.

About Forté Ventures

Forté Ventures collaborates and co-invests with corporate strategic
partners in the most innovative and promising technology companies in
North America. We invest across a diversified set of industry sectors
including Information Technology, Mobility, Digital Media, Financial
Technology and Industrial Technology. For more information, visit http://www.forteventures.com/.

Contacts

Urgent.ly
Laura Gross, 202-695-8223
media@urgent.ly