Livio Investors Ante Up With Series C Funding
FERNDALE — Livio, manufacturer and developer of connected car products and smartphone app connectivity software through Livio Connect, announced the closing of its Series C financing round with Beringea, Western Technology Investment, Angel Street Capital, North Coast Technology Investors and Invest Detroit’s First Step Fund. Several angel investors also participated.
The amount of the investment wasn’t immediately disclosed.
“This funding is our way of showing that Livio is serious about getting apps into cars and consumer electronics,” said Livio founder and CEO Jake Sigal. “Livio is getting bigger, making the roads safer and changing the way people access Smartphone applications with Livio Connect.”
The Livio Connect API enables users to control smarphone apps through the physical buttons on enabled car stereos and consumer electronics.
This technology allows for more infotainment options, less work for consumers to use them and less work for automotive OEM’s and consumer electronics manufacturers to integrate them. The Livio Connect API can also be found inside the Bluetooth Internet Radio Car Kit available at Walmart.
“The Livio team has made excellent progress, working with some of the biggest companies in the world. The company helps bring a more fun, useful and engaging customer experience into our vehicles and homes by leveraging the computing power of our smartphones through their app connectivity solutions,” said Jeff Bocan, managing director at Beringea.
Metro-Detroit-based Livio was built in the guest bedroom of Sigal’s home in 2008 on the foundation of “More Music, Less Work.” Today, those words remain more than a catchy slogan. It’s a philosophy that drives Livio employees and a growing list of breakthrough products. ore information can be found at www.LivioConnect.com and www.LivioRadio.com.