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Otonomo

Automotive dataIsrael
🤝 Acquired
Peak $1.4 BillionToday
~-95%
from peak
  1. 🦄
    Became a unicorn
    2021
  2. 📈
    Peak valuation
    $1.4 Billion ’21
  3. 💔
    Became a Unitard
    2022
  4. 💸
    Last valuation
    ~$70M
Current status
Reverse-merged into roadside-assistance firm Urgent.ly in 2023 after its market cap fell to ~$70M

How it happened

Otonomo was an Israeli connected-car startup building a marketplace for vehicle data between automakers and app developers. It went public on the Nasdaq in 2021 via a SPAC merger with Software Acquisition Group II at a $1.4B valuation. It badly missed forecasts — about $2M of revenue in a quarter it had projected far higher — and the stock fell roughly 95%; by early 2023, its market cap near $70M, it agreed to a reverse merger with Urgent.ly. Glassdoor reviews echoed that struggle: employees repeatedly described an unclear product with no market fit and hesitant leadership, and recalled layoffs — one round just before Christmas — before the Israeli site was closed in the merger.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.

Source: Globes / Calcalist / TechCrunch (Israeli connected-car data marketplace; Q2 2021 SPAC merger with Software Acquisition Group II at a $1.4B valuation; revenue came in far below projections; market cap fell ~95% to ~$70M; reverse-merged into Urgent.ly in Feb 2023 to form Urgently)

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