Salesforce Ventures, the corporate venture capital unit of enterprise software producer Salesforce.com, has participated in a $34m series B round for US-based fleet logistics technology supplier Automile.
Insight Venture Partners led the round, which included contributions from fellow venture capital firms Point Nine Capital and Dawn Capital, and software-as-a-service community SaaStr.
Founded in 2014, Automile has developed a telematics device that can be attached to a vehicle’s dashboard to track mileage, trips and routes, and which can be monitored remotely through web and mobile applications.
Companies that use Automile’s technology to monitor their fleets include Samsung and Nestlé. The funding will be used to open new sales offices in the US and Europe, and to support marketing and product development.
Automile has raised approximately $47m in venture funding so far, starting with a $5m round in 2015 co-led by Dawn Capital and Point Nine Capital.
The company subsequently secured $7.5m in a January 2017 series A round featuring Salesforce Ventures, Dawn Capital, Point Nine Capital, Atomico, SaaStr and individual investors Niklas Zennström, Justin Kan and Sam Nurmi.
Jens Nylander, chief executive of Automile, said: “In 2018 we are launching multiple new products that will help businesses to become even more productive and are excited to have Insight Venture Partners as part of our next chapter.”