Announcing Our $25 Million Series B Funding
Today it was announced that otonomo has closed a $25 Million Series B funding round, and we can’t wait to put it to good use as we continue to grow our team in Israel, US, Europe and Asia. otonomo is a young and determined company, which has grown from 0-60mph in the 14 months since its establishment, gaining the trust of multiple car manufacturers (aka OEMs) with one of their most precious treasures, car data.
Let me take this opportunity to say thank you to –
We’ve grown in the past year from 18 to 45 phenomenal employees, heavily expanding our R&D and sales teams to meet increasing market demand, as well as to continue our mission to build a trusted platform for the connected car ecosystem.
We would like to thank Bessemer Venture Partners, StageOne Ventures, Maniv Mobility, Local Globe – and our angel investors who supported us through our Seed and Series A round which closed September 2016, for the continued vote of confidence in our team and vision. We are grateful to have both Andy Geisse, Operating Partner at Bessemer Ventures, and Benny Schnaider, Venture Partner at Stageone Venures and high-tech serial entrepreneur, on otnomo’s board of directors, providing experience and insight into the strategic planning and big-picture decisions of our company.
We would like to welcome onboard new strategic investors Delphi Automotive, leading end-to-end systems and software provider to the auto industry, and Hearst Ventures, one of the most active and successful corporate venture funds with more than $1 billion in strategic investments in companies operating at the intersection of media and technology.
It has been a big year for the automotive industry, for otonomo, and for Israeli companies in the space. It’s thrilling to see Israel emerging as a growing hub of automotive supplier and service companies.
We look forward to continue providing value to our customers, partners and investors.