RYNSE GAINS MOMENTUM, SECURES FUNDING AND KEY CONTRACTS

New Fleet Management Software Platform Raises $5 Million in Seed Funding to Simplify Ongoing Auto Services

LOS ANGELES, Jan. 29, 2025 /PRNewswire/ -- Fleets are grappling with operational efficiency and profitability challenges such as fraud, overspending, and vehicle maintenance. Rynse, a new fleet management software for government and enterprise organizations, provides a powerful solution. By connecting fleet management with payment systems, Rynse offers an expansive network of vendors, streamlines procurement, saves time, and reduces fraud, enabling fleets to operate more efficiently.

Rynse has secured $5M in seed funding led by Autotech Ventures, with participation from returning investors Founder Collective and Correlation Ventures, along with new investor Connexa Capital. This funding will fuel Rynse's strategic expansion and support key initiatives such as product development, marketing efforts, and operational scaling to meet growing demand.

Rynse, which started exclusively serving fleets in 2024, has secured contracts with government agencies across 10 states, including the State of Utah; Anne Arundel County, Maryland; Baltimore County, Maryland; Broward County, Florida; City of Cincinnati, City of Pasadena; City of Pittsburgh; City of Sacramento and Tennessee Department of Environment. In 2025, the company will expand into the private sector.

"Fleet operators and drivers want flexibility in terms of how they maintain their vehicles, but traditional contracting makes that difficult to achieve," said Ivy Nguyen, principal at Autotech Ventures. "We believe Rynse is a game-changer for the industry because of its potential to deliver immediate value by helping fleets operate more efficiently and with greater transparency. "

How It Works

With its software and fleet-related services payment card, Rynse gives fleet managers and billing administrators more control and vendor and service options. The card offers fleet operators flexible spending controls and access to a nationwide network of car washes, preventative maintenance providers and fueling/charging locations, removing the constraints of relying on single vendors.

Complementing the payment card, Rynse's advanced fleet management software automatically processes, digitizes and consolidates every transaction—eliminating the need for manual entry or reliance on integrations with expense management platforms. Fleets benefit from unified, timely invoices for all vendors, with transaction data seamlessly synced with Rynse's system. The data is also formatted for easy uploading into existing fleet management systems.

"When we spoke with fleet operators, they highlighted major pain points with vendor procurement alongside excess time spent on administrative tasks," said Roland Lau, CEO and co-founder of Rynse. "We set out to create a platform to reduce the administrative burden, offering unprecedented transparency into vehicle service to improve planning, security and compliance. On average, fleets using Rynse have reduced administrative time by an average of 20 hours a month."

To further address fleets' procurement challenges, particularly government, Rynse secured the highly competitive Sourcewell supplier award. This strategic cooperative purchasing program streamlines government procurement for state, local, and educational agencies, allowing Rynse to bypass traditional processes. Among major global automotive service providers, Rynse was the only provider to receive the award across multiple categories, including car washing, preventative maintenance and related garage services.

"Becoming a Sourcewell supplier has made Rynse an attractive partner for government fleets and has positioned the company for accelerated public sector growth. As an approved supplier, we can simplify the procurement process by addressing complex regulatory requirements, cutting lead times from months for local governments and years for state entities," added Lau.

The State of Utah faced challenges establishing a car wash vendor network for its internal departments due to limited procurement resources and lengthy bidding processes. With an estimated 18-month timeline to find a solution, the state turned to Rynse. Within months, Utah gained access to an expanded car wash network and consolidated billing.

"As a Sourcewell recipient, Rynse solved a problem for us, quickly unlocking a broad network of trusted service providers across multiple locations throughout the state, saving our drivers time. This streamlined our entire procurement process, allowing us to service our fleet through one centralized system, reducing costs and saving significant administrative time," said Cory Weeks, director of fleet operations for the State of Utah.

In 2025, Rynse will continue to grow its public sector footprint and build out its private sector customer base. It will also expand its nationwide network of preferred vendors. For more information about Rynse, visit www.gorynse.com or email [email protected]

SOURCE Rynse