Pitstop – a fleet maintenance software company that provides powerful AI-driven predictive analytics and insights in an affordable, easy-to-use solution – has announced that it raised $3.8 million in funding. In Revenue Capital together with Tech Square Ventures were the lead investors behind the joint $3.8 million funding round. Automotive Ventures, SaaS Ventures, and others also joined the round due to belief in its founder, the startup’s innovative technology, product-market fit, and go-to-market needs.
Tech Square Ventures and In Revenue Capital were eager to back Pitstop for many reasons – among which were its founder’s pedigree, knowledge, and vision. Shiva Bhardwaj, chief executive officer of Pitstop, worked at NVIDIA and GB Autos, bringing his experiences in AI and vehicle maintenance together to found Pitstop. And Bhardwaj’s industry knowledge coupled with Pitstop’s AI technology along with transformative market conditions in the Fleet Management space made Pitstop a valuable and promising startup.
KEY QUOTES:
“We had great traction early on with Pitstop, but knew we needed more capital to really get our revenue engine going and to scale. But, we also knew capital alone wouldn’t be the answer. We were thrilled to enter into an investor partnership with Tech Square Ventures and In Revenue Capital, through which Pitstop’s operations are receiving the funds to grow – along with the hands-on expertise required to take us to the next level of our GTM growth.”
– Shiva Bhardwaj, chief executive officer of Pitstop
“Pitstop’s goal is to become the leader for predictive insights that will empower fleet owners to increase ROI in several ways. In Revenue Capital is providing significant strategic and tactical input on the company’s go-to-market initiatives, and we are excited to have them in the round. Together, we’re excited to take Pitstop’s vision and existing groundwork – and supercharge their growth and revenue.”
– Vasant Kamath, general partner of Tech Square Ventures
