Vienna-based roadside assistance tech company Urgent.ly will soon be acquired by Massachusetts-based competitor Agero and taken private, ending a less than three-year run as a public company.
Agero announced this month it will acquire Urgent.ly (branded Urgently) for $5.50 per share. Based on the 2,196,934 shares outstanding as of March 12, according to a Securities and Exchange Commission filing, the deal comes to roughly $12 million.
Founded in 2013, Urgent.ly provides on-demand roadside assistance services, including towing, jump starts and lockout assistance. It also offers an artificial intelligence-powered technology platform that connects drivers, service providers and partners like automakers and insurers to manage those services in real time.
The company went public in October 2023 amid a merger with Israel-based Otonomo Technologies. However, the global company failed to turn a profit, reporting losses of $44 million in 2024 and $20.43 million in 2025.
According to Urgent.ly’s website, the company partners with more than 150 companies, has a leadership team of more than 20 people, over 70 software and artificial intelligence engineers and more than 200 operations specialists.
In a March 13 email to employees, Urgent.ly CEO and President Matt Booth said the transaction is expected to close in late May or early June. He said by merging, the companies “are creating something far more powerful than either organization could achieve alone.”
“This acquisition presents a natural fit,” Booth said in a statement. “Agero shares our commitment to continually improving the roadside experience through sophisticated technology and unmatched data scale. Together, we will elevate how we serve our customers by combining our strengths to accelerate innovation and growth.”
It had not yet been specified what would happen to Urgent.ly leadership and employees post-acquisition, nor how many employees the combined company would have. Both companies stated that clients, customers, service providers and employees should expect “steady continuity.” Urgent.ly did not immediately return a request for comment, and Agero declined to comment further than its news release.
Agero serves over 150 million vehicles annually. The companies said the acquisition will enhance services for automakers, dealerships, insurance carriers, fleet operators and drivers.
“Urgently has established a strong presence in the automotive, fleet and rental markets with its tech-forward approach,” Agero President and CEO David Ferrick said in a statement. “By enhancing that foundation with Agero’s platform, service provider network depth and quality and unmatched scale, we’re positioned to redefine what’s possible in roadside assistance and deliver even greater value to the clients and customers we serve.”
–
