Investment led by Forestay with participation from existing investor Crane Venture Partners to be used to further accelerate global expansion, increase R&D, boost product development, and double headcount by the end of 2022
LISBON, Portugal and LONDON, Dec 1 (Bernama-GLOBE NEWSWIRE) -- Stratio, the world’s leading real-time predictive fleet maintenance platform, today announced a $12M Series A funding round to further accelerate its growth. The investment, led by Forestay Capital, the Deep Tech and SaaS Venture Capital arm of Waypoint Capital, with participation from existing investor Crane Venture Partners, will be used to further accelerate the company’s global expansion, increase its R&D, speed up overall time-to-market, and double its headcount by the end of 2022.Stratio already has its technology deployed in 5 of the top 10 transportation companies in the world and has enabled transportation for 1.3 billion people so far. The company’s Annual Recurring Revenue (ARR) has grown 2700% since its Seed investment round while the company has invested an average of 65% of its budget in R&D since that same period.
Stratio’s AI-based predictive fleet maintenance prevents hundreds of thousands of breakdowns from happening every day, thus saving millions of people from the hassle of public transportation delays, postponed deliveries, or late arrival of essential goods. Downtime becomes a critical problem for fleets responsible for food, medicine, or healthcare supplies transportation. Hospitals, pharmacies, or supermarkets are just a few examples of businesses that are heavily dependent on reliable transportation services.
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