Locus Mobility Company Profile

Background

Overview

Locus Mobility, founded in 2018 and headquartered in Philadelphia, Pennsylvania, is a privately held company operating in the automotive industry. The company specializes in providing a vehicle ownership platform designed to assist manufacturers and dealerships in automating, coordinating, and delivering vehicle services directly to owners at their parking locations. This approach aims to simplify the vehicle ownership experience by automating decisions, managing relationships, and delivering services post-purchase.

Mission and Vision

Locus Mobility's mission is to enable vehicles to self-manage predictable ownership decisions and tasks with minimal owner intervention, promoting a concept they term "Autonomous Ownership." This involves vehicles utilizing data to predict upcoming decisions, proactively scheduling services, and taking actions that owners may not have time to manage, thereby creating a frictionless experience by bringing services to the vehicle's location.

Key Strategic Focus

Locus Mobility's strategic focus centers on enhancing the vehicle ownership experience through automation and proactive service management. The company's platform is designed to:

• Predictive Maintenance: Utilize vehicle data to anticipate maintenance needs and notify owners accordingly.

• Proactive Service Scheduling: Automatically arrange for necessary services, reducing the burden on vehicle owners.

• Frictionless Service Delivery: Coordinate service delivery to the vehicle's location, whether at home or work, minimizing disruption to the owner's schedule.

By focusing on these areas, Locus Mobility aims to streamline post-purchase vehicle management, benefiting both manufacturers and dealerships by fostering customer satisfaction and loyalty.

Financials and Funding

Funding History

Locus Mobility has undergone several funding rounds to support its growth and development:

• March 2018: Participated in an accelerator/incubator program, securing $100,000.

• November 2018: Raised $235,000 through an angel investment round, bringing the total funds raised to $335,000.

• December 2022: Completed another accelerator/incubator round, with the amount undisclosed.

• October 2023: Entered a later-stage venture capital round, which is currently in progress.

Investors

Notable investors include:

• Techstars: An accelerator/incubator backing innovative startups.

• Social Venture Circle: An impact investing group supporting socially responsible enterprises.

• Backstage Capital: A venture capital firm investing in underrepresented founders.

The capital raised is intended to enhance the platform's capabilities, expand service offerings, and scale operations to meet growing market demand.

Technological Platform and Innovation

Locus Mobility's platform leverages advanced technologies to deliver its autonomous ownership experience:

• Data Analytics: Processes vehicle data to predict maintenance needs and service requirements.

• Automation: Automates service scheduling and coordination, reducing manual intervention.

• Integration: Seamlessly integrates with manufacturers and dealerships to provide a unified service experience.

These technological capabilities distinguish Locus Mobility in the automotive service industry by offering a proactive and owner-centric approach to vehicle maintenance and management.

Leadership Team

Harry Michel – Co-Founder and Chief Executive Officer

Harry Michel brings extensive experience in automotive technology and business development. As CEO, he oversees the company's strategic direction, product development, and partnerships.

Kelly Ireland – Co-Founder and Chief Operating Officer

Kelly Ireland has a background in operations management and customer service. As COO, she focuses on operational efficiency, service delivery, and customer satisfaction.

Their combined expertise drives Locus Mobility's mission to revolutionize vehicle ownership through automation and proactive service management.

Competitor Profile

Market Insights and Dynamics

The automotive service industry is experiencing a shift towards digitalization and automation, with increasing demand for solutions that enhance the vehicle ownership experience. The market is characterized by:

• Growth Potential: Rising consumer expectations for convenience and proactive service management.

• Technological Advancements: Integration of data analytics and automation in service delivery.

• Competitive Landscape: Emergence of platforms offering similar services, intensifying competition.

Competitor Analysis

Key competitors include:

• Yoshi Mobility: Provides on-demand vehicle services, including fuel delivery and maintenance, directly to customers' locations.

• Spiffy: Offers mobile car care services, such as washing and detailing, with a focus on convenience and eco-friendliness.

• Filld: Delivers fuel to vehicles at the owner's location, emphasizing time-saving and safety.

• Booster: Provides mobile fuel delivery services, targeting corporate fleets and individual consumers.

These competitors focus on various aspects of vehicle service delivery, highlighting the industry's trend towards mobile and on-demand solutions.

Strategic Collaborations and Partnerships

Locus Mobility collaborates with vehicle manufacturers and dealerships to integrate its platform into existing service ecosystems. These partnerships aim to:

• Enhance Service Offerings: Provide a seamless and automated service experience to vehicle owners.

• Increase Customer Retention: Offer value-added services that foster loyalty and satisfaction.

• Drive Innovation: Leverage combined expertise to develop new features and capabilities.

By aligning with industry stakeholders, Locus Mobility strengthens its market position and expands its reach.

Operational Insights

Locus Mobility's operational strategy focuses on:

• Scalability: Developing a platform capable of handling increasing user demand and service complexity.

• User Experience: Ensuring a seamless and intuitive interface for vehicle owners.

• Service Quality: Maintaining high standards in service delivery through automation and proactive management.

These operational priorities position Locus Mobility to effectively compete in the evolving automotive service landscape.

Strategic Opportunities and Future Directions

Looking ahead, Locus Mobility aims to:

• Expand Service Portfolio: Introduce additional services such as insurance management and roadside assistance.

• Enhance Technological Capabilities: Incorporate advanced AI and machine learning to improve predictive maintenance and service automation.

• Broaden Market Reach: Enter new geographic markets and establish partnerships with a wider range of automotive stakeholders.

By capitalizing on these opportunities, Locus Mobility seeks to solidify its position as a leader in autonomous vehicle ownership solutions.

Contact Information

Website: www.locusmobility.com

Social Media:

• LinkedIn: Locus Mobility LinkedIn

• Twitter: @LocusMobility

• Facebook: Locus Mobility Facebook

For more information, visit the company's official website or follow their social media profiles.