New Zealand fleet inspection and maintenance software startup Whip Around has raised NZ$21 million (A$20m) in a Series B.
The round was led by New Zealand-based Punakaiki Fund and US VC firm Amplo.
Founded in 2016 by Tim Boyle and James Colley, Whip Around develops solutions to tackle the compliance burden for transport companies in the US and globally.
The platform replaces the laborious paper-based fleet inspection process with a more efficient and information-rich digital alternative, reducing the time spent by fleet managers on paperwork.
Whip Around has 70 staff based in Auckland, North Carolina and Texas.
CEO Noah Hickey said the business offers increased visibility, accountability, and preventative actions for fleet managers and the funds will be used to ramp up the platform’s development, expanding its New Zealand-based Product and Engineering team
“The market is in the early innings of a transition from paper-based manual processes to the digital solution that Whip Around provides. There is a significant opportunity to help streamline the transport industry and grow the company. It is an exciting time,” he said
“We are committed to building the world’s best fleet inspection and maintenance platform, and continuing to deliver outstanding value and functionality to our customers,”
The US is where 97% of Whip Around’s customers are based, from small independents to larger fleets working with globally-recognised brands.
Amplo founder and CEO Sheel Tyle said the Texas-based VC was attracted to business by the combination of a clear customer value proposition and a large untapped market opportunity.
“Ultimately though, it is the quality of the team and the culture that Noah has built that give us real confidence that Whip Around has a bright future. We are excited to be involved,” he said.
Amplo will provide in market support to continue the firm’s US growth. The VC’s other investments include Intercom, Robinhood and Sharesies. Former New Zealand Prime Minister Sir John Key is on the Amplo board.
Punakaiki Fund Manager Lance Wiggs praised Whip Around’s “extraordinary team and culture”.
“It is relentless and highly professional in its approach to delivering great results for its customers,” he said.