Pitstop is a Toronto-based provider of fleet maintenance software that delivers AI-driven predictive analytics and insights. Led by CEO Shiva Bhardwaj, the company's platform includes automated maintenance features enabling fleets to leverage vehicle data to reduce downtime and costs. The system predicts and prioritizes vehicle failures, data and maintenance needs in real-time to improve overall operational efficiencies. Pitstop raised $3.8M in funding to support growth. Backers included In Revenue Capital, Tech Square Ventures, Automotive Ventures, SaaS Ventures and others. The company intends to use the funds to expand operations and broaden its business reach. Pitstop’s core product is a prognostics platform that ingests time-series telematics and text-based event data, applying proprietary algorithms, machine learning and AI to predict component-level failures weeks before they happen. The platform produces predictions for batteries, engines, brakes and other components and has reduced vehicle downtime by as much as 25 percent. Customers include enterprise companies, OEMs, fleets and vehicle owners; the company also launched in the Geotab marketplace. Pitstop has partnered with Aisin, Fleet Complete, Smartcar and Continental AG to deploy its maintenance software. The company plans to use new funding to expand market reach, enhance product features and build additional prediction algorithms. Sensata’s partnership is intended to help Pitstop move toward a ‘bumper-to-bumper’ prognostics offering and to develop new business models. Pitstop is a cloud-based automotive prognostics platform that aggregates vehicle data and uses proprietary algorithms, AI and machine learning to predict failures before they occur. The platform sends aggregated data to a secure remote server and delivers real-time, actionable insights via a dashboard and mobile application. Pitstop’s Data Engine combined with Continental’s Remote Vehicle Data (RVD) Platform is being piloted to provide predictive maintenance, reduce downtime and cut maintenance costs across the automotive value chain. The company emphasizes enabling customers to move from product to service models by leveraging connected-vehicle data for improved financial returns. Pitstop is led by Founder and CEO Shiva Bhardwaj and received the 2019 Frost & Sullivan Product Leadership Award for Vehicle Prognostics in North America. The company announced a $1.5 million seed financing to support its growth and commercial pilots.

Total raised

$5M

Funding rounds

3

Latest round

Equity

Latest activity

Apr 2023