January 19, 2022

Announcing Smartcar's $24M Series B Funding

Sahas Katta

CEO + Co-Founder

On behalf of the Smartcar team, I’m proud to share that we’ve raised $24 million in Series B financing led by Energize Ventures with follow-on participation from Andreessen Horowitz (a16z) and New Enterprise Associates (NEA).

Software has transformed how we interact with the world, but when it comes to our cars, innovation in mobility apps and services has been painfully slow. Today, most new vehicles feature built-in internet access, but application developers remain hamstrung by the persistent fragmentation of car interfaces across each manufacturer.

Unlocking the potential of connected cars for all

We started Smartcar with a simple mission: empower developers to build the future of mobility. Since then, we’ve pioneered the car API category – standardizing access to connected cars through a trusted developer platform, and enabling the next generation of digital mobility solutions.

Smartcar now powers a new ecosystem of automotive apps and services that give vehicle owners more choice than ever before – from smart EV charging to usage-based insurance, contactless car sharing, road usage charge programs, and everything in between. Just as importantly, it does so while giving drivers complete transparency about how their vehicle data is used, and full control over what information they share with each mobility app or service.

Today, our platform is compatible with 22 different vehicle brands in 31 countries across North America and Europe, allowing mobility businesses to connect to over 112 million cars with a single integration. Smartcar offers a friendly developer experience with easy-to-use APIs, popular software development kits (SDKs), a powerful self-service dashboard, and more. With this latest round of funding, we plan to push further ahead by introducing new vehicle telemetry APIs and broadening compatibility with even more car brands.

Thank you to our team, customers, and investors

The journey to this point has been incredibly rewarding, and I could not be more proud of the Smartcar team and what we’ve been able to accomplish. Organizations are just a sum of their parts, and our success is a testament to all of the talented individuals who work so tirelessly toward our mission. We will continue to invest in the success and growth of our team as we scale our U.S. operations and accelerate expansion in Europe.

I also want to acknowledge all of our amazing customers who have partnered with us over the years. We’ve seen developers create transformative mobility solutions that support the transition to cleaner energy, offer more equitable funding for our roads, reimagine vehicle ownership, demystify used EV sales, and put the world’s 1.5 billion cars to better use. It’s a privilege to support your innovation and help deliver better experiences for drivers everywhere.

Finally, I’d like to thank our investors for believing in our vision and our company. We are grateful to have your guidance and excited to share this next chapter of our journey with you. I also want to welcome John Tough, managing partner at Energize Ventures, to the Smartcar board. John joins long-time board members Forest Basket (NEA) and Bill Krause (a16z), opening new lanes of access to strategic partners alongside demonstrated commercialization support to help accelerate our growth.

Join the next wave of mobility innovation

In the last year, we’ve seen rapid adoption of digital mobility services by early-stage startups and Fortune 500 companies alike. With Smartcar, these innovators are reimagining automotive services and trailblazing new mobility categories faster than ever. Software is finally disrupting the mobility industry, and we are proud to be at the center of this much-needed revolution.

Now is the time to join us and build the future of mobility!

P.S. Interested in the world of connected cars and looking for your next adventure? Smartcar is growing fast, and we’d love for you to join us! We’re looking for new team members across every part of our organization – check out our open roles.

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