Platform Provider Will Expand Fleet Operations Platform to Strengthen European Markets and Drive Expansion to New Geographies
SAN FRANCISCO, November 19, 2020 – Ridecell Inc., the high-yield platform for digital transformation chosen by the world’s leading fleets, today announced it has secured investment from Fort Ross Ventures, a venture capital firm focused on high growth investment across the US, Israel, and Europe. Ratan Singh, Principal at Fort Ross Ventures, will join the Board of Directors as the company scales up its international business.
Ridecell has been chosen by leading commercial, government, corporate, trucking, logistics, and new-mobility fleets. In recent months the company announced expansions by several customers, including Toyota, AAA, and Renault.
“The leading fleets in the world were already prioritizing digital transformation,” said Aarjav Trivedi, CEO of Ridecell. “COVID-19 created an urgent need for them to reduce risk and manage costs by enabling key-less digital access to their fleets, self-service touch-less monetization across B2B and B2C business models and automating fleet operations. Ridecell is experiencing an acceleration in opportunities to help new customers and partners quickly meet the shifting consumer and enterprise demand for contactless commerce and fleet operations automation. We are excited and eager to continue that momentum and welcome Fort Ross Ventures to our team as we deliver the premier technology platform for mobility companies and fleet operators who want to lead in a post-pandemic era.”
“During a global pandemic, Ridecell has signed up more customers—including larger customers than ever before—proving that the future of mobility is fleets,” said Singh. “We believe this level of agility and robust technology is exactly what the market needs, and we are excited to work with Ridecell as they help the world’s largest fleet and mobility businesses transform into fully digital businesses.”
Ridecell continues to raise capital to power its accelerated international growth, its ability to support larger customers globally, and extend its platform’s core automation and digitization capabilities.
Ridecell Inc. is the leading platform provider for fleet management and monetization solutions. The high-yield fleet automation platform automates actions triggered by vehicle data that control vehicle availability, maintenance, and access. It provides an extensible solution for fleet owners to manage and monetize fleets for shared services, corporate motor pools, and trucking and logistics fleets.
Ridecell powers some of the most successful fleets in cities across Europe and North America. These include services by Ferrovial, Groupe Renault, AAA, Penske, and Toyota.
Ridecell teams work hand in hand with customers operating globally out of offices in San Francisco, California, Madrid, Spain, Paris, France, Berlin, Germany, and Pune, India.
About Fort Ross Ventures
Fort Ross Ventures brings together Silicon Valley venture expertise with an extensive network of relationships in the U.S., Israel, and Eastern Europe. The firm leverages their cultural and business development connections to accelerate success for portfolio companies, including Uber, Fetch Robotics, GridGain, Moven, eToro, Tufin, NetGuardians, Mobeewave, and LendingHome, among others. For more information, visit www.fortross.vc, LinkedIn, and Twitter.
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