BMW i Ventures is the venture capital arm of automotive manufacturer BMW.
Portfolio
2
companies
Motorway
Motorway operates an online used car marketplace connecting private sellers with professional car dealers.
Urgent.ly
Urgent.ly provides a connected digital platform for roadside assistance and vehicle recovery.
The Series C round was co-led by Index Ventures and ICONIQ Growth to support team expansion and platform growth.
"In 2017, we set out to reinvent how people sell their cars, transforming a broken offline process by introducing a superior online experience. Our team has dedicated themselves to this mission through unprecedented times – enabling us to turn a traditionally lose-lose market into a win-win for our customers and dealer partners."
The Series B financing was led by Index Ventures with backing from BMW i Ventures, Unbound, Latitude and Marchmont Ventures.
"For half a century, inefficient offline processes have led to bad deals and a bad experience for both car sellers and car dealers. Motorway has fundamentally changed a broken experience where everyone ends up dissatisfied – and we’ve transformed it with a superior online experience where everybody wins. Cutting out the middlemen leaves both the consumer and car dealer with a better deal, all from home and without the stress. Our incredible growth so far is testament to our focus on delivering more value through technology – and this investment will provide us with the fuel to take Motorway to the next level."
The round was backed by InMotion, BMW i Ventures, and Porsche Ventures.
"We are truly gratified by the support of our investors, including some of the world's top global automotive brands, as we work to define the future of mobility and roadside assistance experience customers demand and deserve,"
