Series A funding round led by Pelion Ventures, with additional participation from Peak Ventures, Kickstart Seedfund, and Tall Wave Partners; Scott Petersen leaves BYU to lead Omadi
SILICON SLOPES, Utah – December 17, 2015 – Custom mobile technology leader Omadi today announced it has secured $5 million in Series A funding designed to expand the company’s sales, product development, and client success teams.
The funding round, which brings Omadi’s total private funding to more than $6 million, was led by Pelion Venture Partners with participation from Peak Ventures (who led Omadi’s Series Seed round), Kickstart Seedfund, Tall Wave Capital, Service Provider Capital, and additional investors. “We are very excited to be partnering with an incredibly visionary and experienced leader in Scott Petersen and a company and technology that is doing something very disruptive in sectors where our mobility solutions will be absolute game-changers for our customers,” said Chris Cooper, a Managing Partner for Pelion. A premier venture fund, Pelion has also backed well-known tech companies such as Domo, Grow and Qzzr.
“Pelion is a recognized leader in the early stage venture community and we are thrilled to partner with them in Omadi’s next stage of growth,” said Petersen. “This investment represents a significant step forward in our vision to become a clear market leader and to create the finest custom mobile technology in the world.”
Prior to co-founding Omadi, Petersen served for nearly six years as the managing director of the Rollins Center for Entrepreneurship and Technology at Brigham Young University. During his tenure, the previously unranked entrepreneurship program grew into a national powerhouse, spending all six years ranked as a top 10 program in both graduate and undergraduate entrepreneurial studies by The Princeton Review and Entrepreneur magazine, one of only two programs in the country to achieve that consistency.
A serial entrepreneur, Petersen has co-founded or partnered in building seven companies, (harvesting four) with three current ventures, including Omadi. Petersen has tapped Charles Lukens, former CEO of APU Solutions (a company Petersen and Lukens co-founded), to join forces with him as Omadi’s president and COO.
Omadi’s rapid growth has been recognized with several prestigious awards. The company was ranked #22 by The Utah Valley Entrepreneurial Forum’s “Top 25 under 5 (years)”, and as one of fifteen “Emerging Elite” companies by the The MountainWest Capital Network at its annual event honoring Utah’s 100 fastest growing companies. Earlier in the year, Omadi was awarded the top honor for telematics at the Connected World conference.
To learn more about Omadi’s custom mobile technology, visit www.omadi.com
About Omadi, Inc.
Omadi’s cloud-based mobile management software allows the highly fragmented transportation, towing, recovery, and security industries to track, analyze, and increase employee productivity, while enhancing communication and replacing the need for multiple software solutions. Highly configurable to serve a number of additional industries, Omadi’s technology helps automate and streamline thousands of activities businesses do everyday, giving companies more time to focus on providing the best service possible.
Pete Larkin, 801-800-8355