{"id":739,"date":"2019-06-26T10:10:24","date_gmt":"2019-06-26T14:10:24","guid":{"rendered":"https:\/\/research.ncsu.edu\/win\/?p=739"},"modified":"2024-01-08T16:18:32","modified_gmt":"2024-01-08T21:18:32","slug":"fresh-10m-enables-spiffy-to-expand-to-fleet-management-fmaas","status":"publish","type":"post","link":"https:\/\/research.ncsu.edu\/win\/fresh-10m-enables-spiffy-to-expand-to-fleet-management-fmaas\/","title":{"rendered":"Fresh $10M Enables Spiffy To Expand To Fleet Management (FMaaS)<\/a>"},"content":{"rendered":"\n\n\n\n

Spiffy continues to clean up in the on-demand car-care space.<\/p>\n

Today the company announced a $10M funding led by New York\u2019s Tribeca Venture Partners, with local participation from existing investors Bull City Venture Partners and IDEA Fund Partners, as well rolling out a new service that it\u2019s dubbing FMaaS to 11 markets, including six brand-new cities.<\/p>\n

\u201cFMaaS\u201d stands for Fleet Management as a Service, which provides a full suite of on-demand services for rental car fleets, automotive auctions, car-sharing services and other multi-vehicle operators.<\/p>\n

\u201cFMaaS is our invention,\u201d says Spiffy Founder and CEO Scot Wingo, \u201ctaking software concepts (SaaS, PaaS) and applying it to the car-care world to represent that they can partner with Spiffy and we\u2019ll take care of everything.\u201d<\/p>\n

Don\u2019t feel bad if, like me, you didn\u2019t know what PaaS meant\u2014isn\u2019t it what you use to dye Easter eggs?\u2014but Google says it stands for \u201cPlatform as a Service.\u201d<\/p>\n

Spiffy\u2019s new FMaaS (Fleet Management as a Service) initiative provides soup-to-nuts service for owners of vehicle fleets.
\nAcronyms aside, Spiffy first made its name with on-demand car washes in which it comes to your home, apartment complex, or office parking lot and cleans your car while you\u2019re off doing whatever it is you do. It next expanded to preventative maintenance\u2014think oil changes, topping off the fluids, sensors to make sure your car isn\u2019t about to run into trouble\u2014and now into fleet management services. Sorry, \u201cFMaaS.\u201d<\/p>\n

As you can see by the cool graphic above, Spiffy\u2019s FMaaS services cover the full cycle of needs for fleet owners, from \u201cin-fleeting\u201d\u2014bringing new vehicles into the fleet\u2014to preventative maintenance to \u201cde-fleeting.\u201d Spiffy (OK, its official corporate name is \u201cGet Spiffy, Inc.\u201d) didn\u2019t make up the latter term, but Wingo helpfully defines it for us:<\/p>\n

\u201cImagine you are U-Haul and after 80K miles you automatically sell those $19.99\/day vans you see everywhere,\u201d says Wingo. \u201cThere is a pretty complex process to get that ready to be sold. That entire bucket of items are \u2018de-fleeting.\u2019\u201d<\/p>\n

The $10M funding, which also included new investors Zunis Investments (a Philadelphia-based family office) and Florida\u2019s Trog Hawley Capital, will enable Spiffy to significantly increase its geographic footprint. In addition to adding FMaaS to its full suite of office park and residential services in its five current markets\u2014Atlanta, Charlotte, Dallas-Fort Worth, Los Angeles and the Triangle\u2014Spiffy will roll out FMaaS to six new markets. The new half-dozen are New York, Washington D.C., Seattle, Phoenix, Denver and Tampa.<\/p>\n

Wingo is one of the Triangle\u2019s most successful serial entrepreneurs, best known for founding Morrisville-based ecommerce company ChannelAdvisor, which is now publicly traded. Tribeca Ventures sounds pleased to get in on his latest venture before it\u2019s too late.<\/p>\n

\u201cWe\u2019re excited to invest in Spiffy as they continue to grow,\u201d said Chip Meakem, Tribeca\u2019s Co-Founder and Managing Partner. \u201cThe comprehensive Fleet Management as a Service offering positions Spiffy to ride the wave of change crashing through the automotive industry. From rental and commercial fleets to partnerships with innovative ride-sharing companies, like Lyft, and the recent Ford connected car partnership, Spiffy is riding several megatrends.\u201d<\/p>","protected":false},"excerpt":{"rendered":"

Spiffy continues to clean up in the on-demand car-care space. Today the company announced a $10M funding led by New York\u2019s Tribeca Venture Partners, with local participation from existing investors…<\/p>\n","protected":false},"author":1119,"featured_media":118,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ncst_custom_author":"","ncst_show_custom_author":false,"ncst_dynamicHeaderBlockName":"ncst\/default-post-header","ncst_dynamicHeaderData":"{\"showAuthor\":true,\"showDate\":true,\"showFeaturedVideo\":false}","ncst_content_audit_freq":"","ncst_content_audit_date":"","ncst_content_audit_display":false,"ncst_backToTopFlag":"","footnotes":""},"categories":[9],"tags":[56,39,12,17,42,7,75,59,80,81,28,23,47],"class_list":["post-739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-angel-investing","tag-angel-network","tag-entrepreneurship","tag-funding","tag-investing","tag-investment","tag-nc-state-university","tag-north-carolina-startups","tag-scot-wingo","tag-spiffy","tag-startup","tag-win","tag-wolfpack-investor-network"],"displayCategory":null,"acf":[],"yoast_head":"\nFresh $10M Enables Spiffy To Expand To Fleet Management (FMaaS) - Wolfpack Investor Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/research.ncsu.edu\/win\/fresh-10m-enables-spiffy-to-expand-to-fleet-management-fmaas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fresh $10M Enables Spiffy To Expand To Fleet Management (FMaaS) - Wolfpack Investor Network\" \/>\n<meta property=\"og:description\" content=\"Spiffy continues to clean up in the on-demand car-care space. 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