Fifth Wall Ventures led a US$10m investment in Cobli, a Brazilian telematics and fleet management SaaS platform, with participation from Valor Capital, NXTP Ventures, GLP, and angels including Hans Tung (GGV) and Sheel Tyle (Amplo).
(Press Release) Cobli, the leading IoT technology company for connected vehicles and logistics in Latin America, today announced the close of a $10M Series A round led by Fifth Wall , the largest venture capital firm focused on technologies for the global real estate industry. The investment will be used to accelerate growth in Cobli’s next generation vehicle IoT tracking technology, which increases fleet and workforce productivity by 27% by optimizing routes and connecting the company, driver, and customer on the same platform. The $10M financing round, which brings the company’s total funding to $17M, is one of the largest for any B2B SaaS company in Latin America and serving as validation of the company’s traction and also of its vision: to connect all commercial vehicles in Latin America to the internet.
Fifth Wall, a U.S.-based venture capital firm with $1B capital under management, led the round. The firm has also invested in Brazilian startups Loggi and Loft. Other participating investors include Valor Capital Group, which has previously invested in Gympass and Stone; NXTP Ventures; Hans Tung of GGV; Sheel Tyle of Amplo; and GLP, a leading global investment manager specializing in real estate, logistics and related technology investments. Andriy Mykhaylovskyy, Managing Partner at Fifth Wall, will join Cobli’s board of directors.
“Cobli’s telematics platform optimizes the way companies in Latin America approach fleet tracking and management at scale. The company’s technology delivers strong efficiency gains to fleet owners and operators and Cobli is well positioned to accelerate the digital transformation of Brazil’s logistics industry. We’re thrilled to partner with Parker Treacy, Rodrigo Mourad, and the executive team,” said Andriy Mykhaylovskyy, Managing Partner, Fifth Wall.
Latin America’s logistics industry is undergoing a massive digitization and Cobli’s IoT technology is at the forefront of this transformation. By collecting data on vehicle location, movement, and condition, Cobli helps logistics providers optimize complex operations. In most cases, these processes had previously been managed manually – a stark contrast in the age of e-commerce.
“Data is already transforming mobility and logistics. However, this transformation has been concentrated in a few logistics leaders. The data we are collecting and processing is helping the entire supply chain to be more efficient and is giving fleets of all sizes throughout Latin America technologies that enable them to compete against industry leaders. From dynamically pricing commercial vehicle insurance to optimizing routing and dispatch, Cobli is bringing the industry into the digital age. This investment will allow us to further accelerate our technology development in order to increase the value we deliver every day to our client partners” said Parker Treacy, Cobli’s Founder.
The 2.5 year-old São Paulo-based company is helmed by an experienced executive team, including Founder Parker Treacy, who prior to Cobli founded First Help Financial, one of the largest independent auto finance companies in the United States.. The company will use the financing to accelerate growth in its vehicle IoT technology and fuel its expansion throughout Latin America, with plans to hire over 100 employees primarily in the areas of software, data science, electrical engineering, customer success, and partnerships.
Fleet operators interested in utilizing the next generation of logistics intelligence and should visit www.cobli.co .
About Cobli
Cobli is the leading IoT technology company for connected vehicles and logistics in Latin America. The company connects fleet vehicles to the internet through plug and play hardware and turns vehicle data into intelligence for a fleet manager through features such as vehicle routing and dispatch, client delivery communications, and automatic vehicle crash detection. Launched in 2017, Cobli is the fastest growing fleet management system in Latin America with more than 1,000 clients in a wide set of industries such as vehicle rental companies, ambulances, and equipment installers. Cobli was the first Latin American company to win the “Harvard Business School – New Venture Competition” and has been honored by LinkedIn as one of the top 10 starts in Brasil.
About Fifth Wall
Founded in 2016 and based in Venice, California, Fifth Wall is the largest venture capital firm focused on technologies for the global real estate industry. With $1 billion capital under management, Fifth Wall connects the world’s largest owners and operators of real estate with the technology entrepreneurs who are redefining the future of the physical environment. Fifth Wall is backed by a global mix of more than 50 corporate strategic partners in 11 countries, including British Land, CBRE, Cushman & Wakefield, D.R. Horton, Equity Residential, Gaw Capital, Gecina, GLP, Hines, Host Hotels & Resorts, Hudson Pacific Properties, Kenedix, Lennar, Lowe’s Home Improvement, Macerich, Marriott International, MERLIN Properties, MetLife Investment Management, Mitsubishi Estate, News Corp, Prologis, PulteGroup, SEGRO, Starwood Capital, Related Companies, Toll Brothers, Vanke, and others. These corporate strategic partners represent the largest potential customers of the global Built World ecosystem, resulting in game-changing investments and partnerships in the most promising portfolio companies in retail, residential and multi-family, commercial, industrial, hospitality, and more. For more information about Fifth Wall, its partners, and portfolio, visit www.fifthwall.com .
About Valor Capital Group
Valor Capital Group, was founded in 2011 as a pioneer cross-border venture capital fund bridging the US and Brazilian technology markets. The firm partners and offices are based in São Paulo, New York, and Silicon Valley. Valor looks to partner with visionary entrepreneurs building transformative businesses from startup to scale-up. We are committed to their success by providing capital, operational support, and connectivity to the global markets.
About NXTP Ventures
Founded in 2011 and based in Buenos Aires, Argentina, NXTP Ventures is one of the oldest and most active early-stage venture capital firms in Latin America. With approximately $100 million in capital under management, we partner with high-impact, visionary founders early on as one of the first sources of institutional funding to help build their companies into future market leaders with long-term competitive advantages. We primarily invest in Seed and Series A rounds in recurring and scalable businesses, and our core verticals are B2B SaaS, logistics technology, information services / AI, fintech (capital light), internet security, and tech-enabled services. For more information about NXTP, please visit www.nxtplabs.com .
