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Cambridge Mobile Telematics is a software company founded in 2010 that uses data from smartphones and a special car device to analyze driver behavior. Based on this information (for example, how sharply the brake pedal is pressed or whether the person is driving on the phone), the application can predict the probability of an accident. In addition, Cambridge Mobile Telematics offers neat drivers various incentives, including cash, for safe and correct driving.
The main customers of Cambridge Mobile Telematics are insurance service providers who use the analyzed data to determine insurance rates and reduce the number of accidents in insured drivers. Other clients include automakers, fleet owners and government agencies. For example, Boston uses company developments to host the Safest Driver competition.
History
2021: Entering the Russian market thanks to cooperation with Krok
April 20, 2021 IT- the company CROC"" and Cambridge Mobile Telematics (CMT), a world expert in the field of mobile telematics and, analysts announced the start of cooperation. Companies will offer Russian to insurers solutions based on mobile telematics from CMT, based on technological experience and knowledge insurance market by Croc experts. As the TAdviser representatives of "Krok," previously CMT products were not officially presented in. Russia More. here
2018: Raising $500 million investment from SoftBank
In December 2018, Cambridge Mobile Telematics announced the attraction of $500 million in investments from SoftBank Corporation, the founder of which is the richest Japanese Masayoshi Son. The money will be allocated from the Vision Fund, which the Japanese holding created to invest in technology projects. Before these large investments, the startup raised only $2.5 million in funds (Crunchbase data).
According to Hari Balakrishnan, co-founder of Cambridge Mobile Telematics, the company used to develop due to customer revenue, which was measured in tens of millions of dollars. The startup attracted large investments because it proved the ability of technology to change the approach in calculating the cost of insurance. By the end of 2018, there are 1.2 billion cars in the world, and only 50 million of them participate in the data collection program, Balakrishnan noted, pointing to the potential of Cambridge Mobile Telematics products.[1]
Notes
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