Movatic

Network For "Shared Mobility" Companies

Company Information

Website:

movatic.co

Sector:

Shared Mobility, Content Management Software

Location:

Delaware

Movatic is a software platform that enables companies to join the booming "shared mobility" economy.

Shared mobility is a term used to describe transportation services shared among users.

Some of the more notable companies that operate shared mobility services include:

Zipcar for car-sharing…

CitiBike for bike-sharing…

And Uber for ride-hailing.

These companies enable users to access transportation services on an as-needed basis.

Today, shared mobility has become a $458 billion annual market in the U.S., and a multi-trillion-dollar market globally.

This massive figure is due to an increase in the number of people moving into urban areas, where a variety of shared mobility services are necessary.

But as more companies enter into this growing industry, they encounter a similar problem: many of them don’t have the capital or experience to build the software necessary to run their business.

Movatic, however, provides a solution.

The company has developed a software platform that consists of two key parts:

A mobile app…

And a “back-end” solution.

On the Movatic app, users can find, rent, and pay for different mobility services.

Meanwhile, Movatic’s back-end software enables companies to manage their business, set prices, and provide customer support.

In short, Movatic’s software enables any company’s mobility product to join the shared mobility market…

And the company brings all mobility companies together under one app, helping to create what Movatic calls a “global network for the sharing economy.”

In exchange for its services, Movatic receives a recurring software fee from companies. And Movatic receives a 3.1% processing fee for each user transaction through the app.

Since launching in August 2016, the company has already broken even, and revenue is doubling every six months.

Movatic has more than 100 shared mobility services on its platform, and the company is working with 10 mobility product manufacturers.

Movatic received a $50,000 investment from Ann Arbor SPARK, an organization dedicated to advancing start-ups from the Ann Arbor, Michigan region.

The company's co-founder and CEO Ansgar Strother has previous experience in the sharing mobility industry. He founded A2B Bikeshare, a start-up that created a bike-sharing platform to serve the Ann Arbor, Michigan community. The technology behind this platform was later acquired by Zagster.

Currently, Movatic is focusing on bike parking and bike sharing companies in need of software platforms…

But the company aims to expand to other sharing sectors — including car sharing and ride sharing — in the future.

In spring 2018, Movatic will apply to join the TechStars Mobility program. This program focuses on companies in the automotive, trucking, transportation, and logistics industries. Previous companies to complete the program include Wise (company that created software to help businesses improve logistics) and Pitstop (a device that helps car owners determine mechanical issues).

Team Background

Adam Jakiela - Co-Founder & CTO

Prior to starting Movatic, Adam served as the Chief Technical Officer and software developer for A2B Bikeshare. It was here he met Founder Ansgar Strother, and the company’s technology was eventually acquired by Zagster.

Adam formerly served as a software contractor with Clarion.

Adam studied Computer Science at Grand Valley State University.

Ansgar Strother - Co-Founder & CEO

Before starting Movatic, Ansgar founded A2B Bikeshare. This start-up created a bike-sharing platform to serve the Ann Arbor, Michigan community. The company’s technology was later acquired by Zagster.

Ansgar formerly served as a program manager intern with Microsoft. While there, he worked with a development team and was responsible for coding.

Ansgar formerly served as a software intern with Qualcomm. He specialized in product testing and worked with several development teams.

Ansgar received a Bachelor’s degree in Computer Engineering from the University of Michigan.

Co-Investors

Ann Arbor SPARK

Organization dedicated to advancing start-ups from the Ann Arbor, Michigan region.

Raising
$107K
Committed
$15.356K (14%)
Current Valuation
$2.107 million
Min. Investment
$100
Deal Type
Title III
(For all investors)
Offering Type
Equity
Finance History
Notable Investors
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