The real-time predictive fleet maintenance platform Stratio today 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» the company says.
Stratio’s technology also has a big impact on zero-emission transition for transportation companies. The company has been working with several large fleet operators in deploying its predictive maintenance technology to help companies ensure zero downtime while operating this cleaner form of transportation.
Stratio, predictive maintenance for public transport
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, Stratio says. 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.
By harnessing the power of data, and using augmented intelligence, Stratio provides real-time actionable insights through a scalable platform that collects, analyses, 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 has customers across EMEA, US, LATAM, and APAC, and has expanded its footprint to strategic markets such as North America, Australia, Brazil, and Mexico. Some of its key clients include Ford Trucks, Arriva, Keolis, RATP Dev, Go-Ahead, ComfortDelGro, and more. Fleets using Stratio’s technology circle the globe 20 times each day while the platform processes more than 5 billion data points.
Stratio: real-time predictive fleet maintenance for better public transportation
“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. “Stratio’s technology is empowering fleet operators across the globe by providing them the most comprehensive and easy-to-manage platform in this space. We believe that this technology will soon be available to every vehicle around the world and that enabling a zero-downtime future will change transportation as we know it.”
“Stratio’s technology fascinated us right from the beginning. Not only are they far advanced in terms of datasets uniqueness – which virtually allow them to work with any fleet across the globe – but they also have been growing at an incredible pace,” said Frederic Wohlwend, Managing Partner at Forestay. “Their R&D investment over the last few years makes them industry front runners and they are very well placed to massively scale a piece of technology that has ramifications across the entire global economy and will certainly impact how everything moves on the planet. We’re thrilled to be partnering with Ricardo Margalho and Rui Sales, and the rest of the talented Stratio team on this next chapter of their growth”.