23 Apr Fleet Management Company Stratim, Acquired by KAR
The San Francisco car fleet management startup company, Stratim, has recently been bought by KAR Auction Services Inc., a major car auction company. Stratim’s fleet tracking software will be used for car- and ride-sharing services in collaboration with KAR. Financial details of the acquisition have not been released.
- Even though they’re fairly new to the fleet world, Stratim already has around 50 customers in North America alone.
- KAR has sold more than 5 million used and salvaged vehicles in 2016.
- The collaboration between both companies is predicted to be in direct response to the massive success of Uber Technologies Inc. and Lyft Inc.
“There’s a lot of money being invested in this space, every manufacturer is partnering with someone and they’re all going to have their own fleets. These fleets will need to be managed, maintained and at some point in time those cars have to be sold,” KAR CEO Jim Hallett said.