Today, Vancouver-based Mojio announced that it has closed a $40 Million USD Series B funding round.
The oversubscribed round included strategic investors Assurant, the world’s leading provider of vehicle protection services and extended warranties; Bosch, the top tier-one supplier to the global automotive industry; and T-Mobile, America’s fastest-growing wireless company.
Mojio is the leading technology platform and SaaS provider for connected cars.
According to today’s announcement, the expanded portfolio of investors will fuel Mojio’s global growth with a blend of financial support and industry expertise.
Innogy Ventures, Iris Capital, Telus Ventures and Trend Forward Capital joined the round’s lead financial investor, Kensington Capital.
Mojio also secured re-investment from the Series A round syndicate, including Amazon Alexa Fund, BDC IT Venture Fund, Deutsche Telekom Capital Partners and Relay Ventures.
“These strategic investments underscore the close partnership we have with our investors and the confidence they have in our people, products and vision for an increasingly connected life,” said Kenny Hawk, CEO of Mojio.
“With this additional funding, we’re able to accelerate our efforts to support the entire automotive ecosystem in delivering smarter, safer and more convenient car ownership experiences to the global driving community.”
Mojio will use the funding to invest in the talent and technology required to meet the evolving needs of Mojio’s enterprise customer base, which includes Assurant and nine mobile network operators across six countries, with more to launch in 2019.