Avrios’ cloud-based, fleet management platform is used by more than 1000 customers with around 120’000 vehicles. Battery Ventures has acquired the Zurich based company as well as Vimcar from Berlin with the goal to create a large, pan-European player with an integrated, holistic fleet software and services offering.
Avrios International AG’s platform, aimed at fleets with 20 to 20,000 vehicles, drives more efficient processes, reduces costs and speeds the implementation of regulations for customers. Battery Ventures has acquired Avrios together with Vimcar, a leading provider of fleet management software for SMEs with one to 200 vehicles.
Vimcar, based in Berlin, and Avrios, based in Zurich, provide complementary software solutions for forward-thinking, European businesses managing fleets of vehicles—as well as certain professionals—to monitor their fleet operations, track vehicles, manage costs, reduce emissions and comply with local regulations. Together, Vimcar and Avrios count over 250 employees and tens of thousands of customers across Europe in industries including construction, technical field services, healthcare, manufacturing and government.
Battery’s goal is to eventually bring the two SaaS (software-as-a-service) companies together to create a large, pan-European player and offer better product capabilities and service to customers through product innovation and, potentially, acquisitions. Specific plans about the proposed combination will be revealed at a later time.
In a post on LinkedIn Avrios founder Andreas Brenner commented: “I am very proud to share that Avrios and Vimcar are joining forces under the umbrella of their new owner Battery Ventures. This business combination makes a lot of sense for customers, investors and employees. It is the single best possible scenario for the future of both companies.”
"The Battery team, including its European base in London, is incredibly knowledgeable about SaaS and has years of expertise helping businesses scale, so we look forward to working together,” said Francine Gervazio, CEO of Avrios. “We’re also incredibly excited to join forces with Vimcar and, together, strengthen our position in the market.”
“We are thrilled to partner with Vimcar and Avrios and are excited to work with the leaders of both companies to provide a more integrated fleet-management offering to customers,” said Morad Elhafed, a Battery general partner. Added Battery Principal Zak Ewen: “We see significant growth potential for the European fleet-management market, where businesses are increasingly choosing to digitize fleet operations to cope with rising labor and fuel costs, adapt to the electrification of fleets and manage compliance in an ever-changing regulatory environment.”
(Press release / SK)
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