Stratio, the world’s leading real-time predictive fleet maintenance platform, announced a $12M Series A funding round to further accelerate its growth. The investment, led by Forestay Capital, the Deep Tech and SaaS Venture Capital arm of Waypoint Capital, with participation from existing investor Crane Venture Partners, will be used to further accelerate the company’s global expansion, increase its R&D, speed up overall time-to-market, and double its headcount by the end of 2022.
Stratio already has its technology deployed in 5 of the top 10 transportation companies in the world and has enabled transportation for 1.3 billion people so far. The company’s Annual Recurring Revenue (ARR) has grown 2700% since its Seed investment round while the company has invested an average of 65% of its budget in R&D since that same period.
Stratio’s AI-based predictive fleet maintenance prevents hundreds of thousands of breakdowns from happening every day, thus saving millions of people from the hassle of public transportation delays, postponed deliveries, or late arrival of essential goods. Downtime becomes a critical problem for fleets responsible for food, medicine, or healthcare supplies transportation. Hospitals, pharmacies, or supermarkets are just a few examples of businesses that are heavily dependent on reliable transportation services.
By harnessing the power of data, and using augmented intelligence, Stratio provides real-time actionable insights through a scalable platform that collects, analyzes, and explains when the next breakdown will happen. Its fully explainable AI system allows fleet managers and operators to easily understand the reasons behind each potential breakdown, thus moving away from a reactive maintenance approach that leads to vehicle downtime, lost revenue, unhappy customers, and a damaged reputation.
“Stratio’s contribution to zero downtime impacts the global economy and people’s lives every single day. Real-time predictive fleet maintenance provides a magnified look that leads to better planning and better decisions. That means higher quality and cheaper public transportation, on-time deliveries while serving more customers at a lower cost,” said Stratio’s co-founders, Ricardo Margalho, CEO and Rui Sales, President.