Overdrive

  • Car Care
  • Service Center Resources
  • News
  • Product Updates

Openbay Developing AI-Enabled Solutions Designed for the Automotive Aftermarket Industry Secures Series A Financing

Openbay AI Artificial Intelligence

Openbay Developing AI-Enabled Solutions Designed for the Automotive Aftermarket Industry Secures Series A Financing

CAMBRIDGE, MA, June 25, 2018 – Openbay, an award-winning online marketplace for automotive repair and services and a provider of SaaS based solutions for the automotive aftermarket industry, today announced it closed an $8M Series A round of financing. Shell Ventures LLC led the round with participation from existing investor Stage 1 Ventures and an additional strategic investor. The new round will be used to bring to market artificial intelligence (AI) enabled solutions for businesses that provide automotive repair services and to grow existing and new markets across all its offerings.

Openbay provides an online marketplace that empowers consumers to conveniently locate automotive service providers, compare price quotes for services and transact for automotive maintenance services.

“Openbay’s vision has not changed since its inception; fundamentally improve the experience for automotive repair and services for consumers, and the way that automotive care businesses acquire and service customers. Consumers expect their interactions across websites, social platforms, mobile and messaging apps to be engaging and interactive. This requires natural-language processing, machine learning and predictive analytics,” said Rob Infantino, founder and CEO of Openbay. “With fresh capital and depth of the resources our strategic and global investors bring to Openbay, the company is now well positioned to grow and expand its offering globally.”

Commenting on the announcement, Huibert Vigeveno, Executive Vice President for Global Commercial, Shell, said “Digital and services partnerships provide exciting prospects and new revenues for Shell’s Marketing businesses. Understanding customer needs and reducing customer friction is at the heart of our thinking. We scan the market for emerging technology trends and look for disruptive or transformational technologies, and investing in promising technologies such as Openbay is very much part of our future growth strategy.”

# # #

About Openbay

Openbay is an online marketplace and SaaS software company transforming the experience for automotive repair and services for consumers, and the way that automotive care businesses acquire and service customers. Headquartered in Cambridge, MA, Openbay is privately held. Its investors include Shell Global Commercial, Stage 1 Ventures, Boston Seed Capital, GV (formerly Google Ventures), a16z seed, and several individual investors. Openbay holds an A+ rating from the Better Business Bureau.

About Shell Ventures

Shell Ventures is the corporate venture capital arm of Royal Dutch Shell plc (“Shell”). Continuing Shell’s tradition in venture capital since 1997, Shell Venture’s investment focus covers the full energy spectrum from O&G to renewable energy technologies and digital solutions. Shell Ventures co-invests with other corporate investors, venture capital funds and angels in both early stage and late stage (growth capital) companies..

About Stage 1 Ventures

Stage 1 Ventures is an early stage venture capital firm seeking to build partnerships with great entrepreneurs who want to build meaningful companies. Stage 1 spans the “Capital Gap” for early stage entrepreneurs with capital efficient fund models for Limited Partners. Stage 1’s management team has invested in more than 100 leading companies over the last twenty years, roughly half of them in the mid-Atlantic region, and has produced almost $1 billion of investment proceeds.

Follow Openbay on its blog, Facebook, twitter, Instagram, or visit Openbay.com for additional information.
Openbay, OpenbayConnect, OpenbayASP, and Openbay logos are either trademarks or registered trademarks of Openbay, Inc. Other company and product names may be trademarks of their respective owners.

Jun 25, 2018Openbay Staff
Your Facebook Business Page Now Able to Generate Automotive Service Quotes for CustomersAutomotive Parts Giveaway for Automotive Service Businesses
You Might Also Like
 
Openbay Now Serving Up Car Repair Services for Android Users
 
This Auto Editor’s Two Car-Care Lessons He Learned the Hard Way
Openbay Staff
June 25, 2018 Openbay News, Press auto blog, auto care, auto care industry, auto maintenance, auto mechanic, auto repair, auto repair advice, auto repair estimates, automotive news, automotive repair, Financing, Funding, series A
Openbay

Openbay, an award-winning online e-commerce marketplace for automotive repair and services and a provider of SaaS-based solutions for the automotive care industry, is transforming the experience for automotive repair and service for consumers and the way that automotive care businesses acquire and service customers.

Contact Openbay

Reach out to Openbay to learn more.

Address: 10 Canal Park, Cambridge, MA 02141

Phone: 617-398-8888

Email: [email protected]

About

Openbay, an award-winning online marketplace for automotive repair and services and a provider of SaaS-based solutions for the automotive care industry, is transforming the experience for automotive repair and service for consumers and the way that automotive care businesses acquire and service customers.

Contact Openbay

To learn more about Openbay marketplace and subscription services, contact us today.

Address: 10 Canal Park, Cambridge, MA 02141

Phone: 617-398-8888

Email: [email protected]

openbay.com

Openbay Solutions
  • Openbay marketplace
  • Otis 
  • Business profile page 

Have an Openbay representative reach out to me

2023 © Openbay Overdrive