Urgently Secures Engagement with Global Top 5 Automotive OEM
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Insights
Urgent.ly's recent contract with a top-tier US-based automotive OEM represents a significant milestone for the company, indicating its robust position in the digital roadside assistance market. The partnership will likely enhance the OEM's luxury brand by integrating cutting-edge technology for an improved customer experience, particularly in the rapidly growing electric vehicle (EV) segment. This move could increase the perceived value of the OEM's luxury vehicles, potentially translating into higher sales and brand loyalty.
From a market perspective, the collaboration with Urgently could set a new industry standard for customer service within the automotive sector, encouraging competitors to seek similar advancements. The long-term benefits for Urgently include a stable revenue stream and the potential for market expansion as the demand for sophisticated EV support services grows. However, the scalability of their service network and technology will be critical in meeting the high expectations of luxury car owners and maintaining the OEM's brand reputation.
The strategic engagement between Urgent.ly and the automotive OEM is likely to have a positive financial impact on Urgent.ly's revenue projections, given the multi-year nature of the contract. The deal not only secures a steady income for Urgent.ly but also provides a platform for future growth and possible upsell opportunities within the luxury automotive sector.
Investors should monitor the execution of this partnership closely, as successful implementation could lead to upward revisions in Urgent.ly's financial forecasts and possibly its stock valuation. The market will be looking for increased efficiency in service delivery and customer satisfaction metrics to gauge the success of the partnership. Any operational hiccups could affect the OEM's customer experience and, by extension, Urgent.ly's financial performance and reputation in the market.
The integration of Urgent.ly's technology within a luxury automotive brand is indicative of the industry's shift towards digital transformation and enhanced customer service. The focus on EV support services is particularly pertinent, as the EV market is expected to grow significantly in the coming years. OEMs are increasingly investing in digital platforms to provide seamless customer experiences and Urgent.ly's capabilities in real-time tracking, live job management and multi-channel accessibility position it as a front-runner in this space.
For the automotive industry, this partnership could be a bellwether for how luxury brands will differentiate themselves through technology and customer service. The ability to manage services remotely and provide immediate assistance is becoming a key competitive advantage. As such, the success of this partnership could influence future technology and service standards across the industry.
The US-based OEM to deploy Urgently’s mobility assistance and dealer platform across its luxury brand beginning in 2024
VIENNA, Va., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Urgent.ly, Inc. (Nasdaq: ULY) (“Urgently”), a U.S.-based leading provider of digital roadside and mobility assistance technology and services, today announced it has secured a multi-year engagement with a global top 5, US-based automotive OEM. Beginning in 2024, Urgently’s connected assistance platform will be deployed across the OEM’s iconic luxury brand vehicle lines, enabling exceptional roadside assistance and repair services for more motorists throughout N. America, with support for a growing electric vehicle (EV) footprint.
“The requirements for a luxury brand customer experience demand a partner that can deliver at the highest levels,” said Matt Booth, Chief Executive Officer, Urgently. “Urgently has developed the technology and capabilities that elevate the customer experience during brand defining moments, including EV-trained service providers and integrated dealer technology that enables dealers to strengthen customer relationships. We look forward to safely and quickly connecting our service provider network with this OEM’s customers in their moment of need."
Following a competitive RFP process, Urgently was selected for its proprietary mobility assistance technology, its EV expertise and capabilities, real-time data processing, and its unique ability to support the luxury brand’s white-glove customer experience. Testimonial references from Urgently’s existing OEM customer partners further validated the selection.
Urgently Capabilities for Customer Partners
Urgently’s mobility assistance and dealer platforms dynamically match vehicle owners with service professionals, enabled by proprietary technology, algorithms and data ecosystems. Capabilities include:
- Real-time tracking, connecting the customer partner, consumer, service provider and repair facility via digital and analog communication channels from dispatch to final disposition.
- Integrated dealer technology allows dealers to extend their service technician footprint outside the dealership by receiving and managing service requests for customers at home, work or on the road. This empowers dealers to develop much stronger relationships with their customers leading to high customer satisfaction, in brand remote services. Additionally, dealers can dispatch, monitor and manage tow and roadside requests through their portal for full program visibility.
- Live job management and actionable data from dispatch to completion, both on a per-job basis and in the aggregate.
- Multi-channel consumer and service provider accessibility, including a fully digitized experience via mobile application, live customer service representatives, and a software as a service (“SaaS”) layer.
- Broad mobility assistance capabilities, including towing solutions, mobile repair services (e.g., flat tire, jump start, lockout, fuel delivery, electric vehicle charging, tire and battery replacement), collision and impound-related towing and onward mobility services that enable a consumer to continue their journey following a roadside event.
For more information about Urgently’s roadside and mobility assistance solutions visit https://www.geturgently.com/industry-solutions.
NOTE: Global OEM ranking based on an analysis of multiple sources, including Biggest Car Manufacturers by Revenue, 2023 (CEO World, Oct. 2023) and 2022 Revenue of Leading Automakers Worldwide (Statista, Aug. 2023).
About Urgently
Urgently is focused on helping everyone move safely, without disruption, by safeguarding drivers, promptly assisting their journey, and employing technology to proactively avert possible issues. The company’s digitally native software platform combines location-based services, real-time data, AI and machine-to-machine communication to power roadside assistance solutions for leading brands across automotive, insurance, telematics and other transportation-focused verticals. Urgently fulfills the demand for connected roadside assistance services, enabling its partners to deliver exceptional user experiences that drive high customer satisfaction and loyalty, by delivering innovative, transparent and exceptional connected mobility assistance experiences on a global scale. For more information, visit www.geturgently.com.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the United States federal securities laws. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including but not limited to: those statements around Urgently’s multi-year engagement with a global top 5, US-based automotive OEM. These statements are based on the current assumptions of Urgently’s management and are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual performance or achievements to be materially different from any future performance or achievements expressed or implied by the forward-looking statements. For factors that could cause actual results to differ materially from the forward-looking statements in this press release, please see the risks and uncertainties detailed in our filings with the Securities and Exchange Commission, including in our Registration Statement on Form S-1, as amended, which was declared effective by the SEC on October 19, 2023 (the “Registration Statement”), our quarterly reports on Form 10-Q, and other filings and reports that we may file from time to time with the SEC. All forward-looking statements reflect Urgently’s beliefs and assumptions only as of the date of this press release. Urgently undertakes no obligation to update forward-looking statements to reflect future events or circumstances.
Contacts:
For Press: media@geturgently.com
For Investors: investorrelations@geturgently.com
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