×

Record360 Announces $1.5M Seed Investment

SEATTLE, Aug. 11, 2015 (GLOBE NEWSWIRE) -- Record360, which offers a patent-pending property inspection and asset condition reporting dashboard and mobile app, announced the close of an oversubscribed $1.5 million seed investment round. The round was led by The Alliance of Angels and also included Bellingham Angel Investors.

Damage disputes are an everyday issue for companies in the rental/share business, as well as in the broader consumer market. And paper-based asset condition and claims management processes, as well as low-fidelity digital reporting, are clearly outdated. This pain point, combined with the ubiquity of mobile devices, underscores the Record360 opportunity not just for businesses in the rental, shipping, property management, and other verticals, but the large audience of consumers participating in the flourishing sharing economy.

Founded by former rental industry executives, Record360 automates how companies manage inspection and asset condition reporting for vehicles, equipment, and property across the enterprise and points-of-sale. The app is extremely simple to use, taking just a few taps on a mobile device to capture time/date-stamped and geo-tagged video, images, highlights and annotations to document asset and property condition. Record360 improves customer service, protects from damage disputes, and saves time and money.

Record360 is used by numerous organizations including Able Freight, Quixote, Penske Jaguar Land Rover, and Road Machinery, LLC.

The company also offers a free mobile app for consumers, which won the 2015 Elliott Award for Best Travel App, that provides a time-stamped layer of protection against liability when renting or sharing autos, vacation homes, recreational equipment, boats or other property.

About Alliance of Angels

Alliance of Angels is the premier angel group in the Pacific Northwest, comprising more than 100 investors who fund and mentor early stage companies. It is recognized as one of the most active angel groups in the nation, having invested over $80 million in more than 200 early stage companies since 1997. To learn more, visit www.allianceofangels.com.

About Bellingham Angels Investors (BAI)

Founded in 2005, BAI is composed of 50 accredited investors who share a common interest in seeking investment opportunities in early or middle stage companies in the Pacific Northwest & British Columbia, giving preference to Whatcom, Skagit & Island counties. To learn more please click here.

About Record360

Founded by former rental industry executives with more than 35 years of experience, Record360 delivers peace of mind to consumers renting property, equipment, autos and more. Record360 is also available as an enterprise-class platform for organizations that need to track assets, property, project and production milestones, and inventory. Its enterprise customers include Able Freight, Quixote, Penske Jaguar Land Rover, and Road Machinery, LLC. With proof of condition in hand, disputes at the point of return are a thing of the past. And that makes everyone a little happier. Record360 was named Winner: Elliot Awards 2015 Best Travel App. For more info, please visit https://www.record360.com/.

CONTACT: Media Contact: Luke Lappala Martin Levy Public Relations, Inc. luke@martinlevypr.com (206) 313-7520 Twitter: https://twitter.com/MartinLevyPR http://www.linkedin.com/in/martinlevyprSource: Record360