Cambridge Mobile, or CMT, provides data about vehicles to insurers to better gauge risk, set prices, quickly assess claims and so forth. HappyFresh Wins Funding, Revamps Board as Business Resumes. Cambridge Mobile Telematics Founded in 2010 by two MIT professors, Boston Massachusetts startup C ambridge M obile T elematics ( CMT ) has taken in $502.5 million in funding so far with the lion's share of that funding coming in the form of a ( checks notes again ) $500 million round from Softbank which closed just last month. The funding round was led by Omidyar Network India. Cambridge Mobile Telematics announced the launch of Claim Studio, an accident reporting system Driving Under the Distracted Influence: Smartphone Telematics for a Safer Road April 3, 2018 Connected Car News Cambridge Mobile Telematics, Payment24 & and Garrett Motion June 20, 2021 by Lynn Walford In connected car news are Cambridge Mobile Telematics, Payment24, Motorq and Garrett . here. Cambridge Mobile Telematics, which helps insurers monitor drivers via smartphone, has agreed to buy TrueMotion, a cross-town Boston . TrueMotion has also entered the European market, collaborating with LB Forsikring to promote safe driving in Denmark. The startup also bagged investment from VC fund Pentathlon Ventures and DMI Sparkle Fund.. . A few weeks ago, we saw Root Insurance become a unicorn with its latest round of funding and a $1 billion valuation. Cambridge Mobile Telematics Launches Solution to Reduce Crash Frequency - Cambridge Mobile Telematics https://www.cmtelematics.com 15 Overview Cambridge Mobile Telematics (CMT) is a telematics and analytics provider for insurers, rideshares, and fleets. Cambridge Mobile Telematics Raises $500M from the SoftBank Vision Fund Investment will accelerate the adoption of CMT's DriveWell platform Fuels product and market expansion across the company's. The Boston based. DriveWell is a full telematics and behavioral analytics system developed by Cambridge Mobile Telematics to increase safety. You can find their website. Its mission is to make the world's roads and drivers safer. . Cambridge Mobile, founded in 2010, received $500 million in funding from SoftBank Group Corp.'s Vision Fund in 2018. Cambridge Mobile Telematics (CMT), a Cambridge U.S. based company, announced last week that it acquired a rival TrueMotion, which is based nearby in Boston. Name of primary program: Snapshot Year launched: 2008 Total enrolled customers: 8 million (Reported to Digital Insurance in 2021. Founded in 2010, Cambridge Mobile Telematics has now raised a total of $502.5M in reported equity funding over two rounds. The mobile sensing company said the funding will be used to accelerate the development and implementation of CMT's . Cambridge Mobile Telematics, Inc. Street Address 1 Street Address 2; 1 BROADWAY: 14TH FLOOR: City State/Province/Country ZIP/PostalCode Phone Number of Issuer; CAMBRIDGE: MASSACHUSETTS: 02142: 610-212-1014: 3. The company has raised over $500 million from top tier investors like Softbank Vision Fund. Cambridge Mobile Telematics Cambridge Mobile Telematics is a Software & Apps company and has headquarters in Cambridge, Massachusetts, United States. Mobile telematics and analytics company Cambridge Mobile Telematics (CMT) is raising $500 million from the SoftBank Vision Fund. The company's AI-driven platform, DriveWell . While it is common for the Vision Fund to make big bets, the target seemed an unlikely one, as it is not one of the "unicorns" routinely covered in the press. Those 16 rounds totaled $3.2 billion as the year concluded. The mission of Cambridge Mobile Telematics is to make roads and drivers safer. It was founded in 2010. Cambridge Mobile Telematics 7,646 followers 22h Report this post One day left until MOVE: Mobility Re-imagined 2022. Massachusetts-based Cambridge Mobile Telematics, which offers safe driving technology that is used globally by insurers and other firms, said it has attracted a $500 million investment from the . Cambridge Mobile Telematics Location: USA Founded in 2010 Private Company "Cambridge Mobile Telematics (CMT) aims to improve safety in the mobile world for people and goods using mobile sensing and IoT, AI, and behavioral science. Cambridge Mobile Telematics is a private company. CAMBRIDGE, Mass.-(BUSINESS WIRE)-Hastings Direct has partnered with Cambridge Mobile Telematics (CMT), the global leader in smartphone telematics, to create Hastings Direct YouDrive, a program that gives safe drivers of all ages better control over their car . Founded in 2010 by two MIT professors, CMT's accomplished team of expert scientists and experienced entrepreneurs developed DriveWell, an advanced mobile-sensing and big data platform . Funding Amount: $626.63M. Cambridge Mobile Telematics Valuation & Funding This information is available in the PitchBook Platform. Founders Bill Powers, Hari Balakrishnan, Sam Madden, Tim Vogel Operating Status Active Last Funding Type Private Equity Legal Name Cambridge Mobile Telematics Inc Company Type For Profit Contact Email info@cmtelematics.com Phone Number (617)751-4141 Cambridge Mobile Telematics (CMT) makes roads and drivers safer around the world. Major investors in the company include SoftBank Vision Fund. Their latest funding was raised on Dec 19, 2018 from a Private Equity round. The benefits for insurers are in three places. -- (BUSINESS WIRE)--. The average user sustains a 25% reduction in phone usage even after 200 days, and some CMT's insurance partners report as much as 47% reduction in total claims costs, based on studies of more than 100,000 drivers. A co-founder of Cambridge Mobile Telematics says the murder of Jamal Khashoggi was a "crime against humanity," but the startup still felt comfortable accepting money from a venture fund whose . Filing 4 Disclosure Statement pursuant to Rule 7.1: Other affiliate SoftBank Vison Fund and SoftBank Group for Cambridge Mobile Telematics Inc. (vfm) September 23, 2022 Filing 3 Report to the Commissioner of Patents and Trademarks for Patent/Trademark Number(s) US 9,228,836 B2 ;US 10,349,219 B2 ;US 10,672,249 B1 ;US 10,930,090 B2 ;US 10,967,872 B2. In this episode you will learn: Cambridge Mobile Telematics' business model This proves what we have seen over the past several years: that smartphone telematics, big data and analytics are the future of insurance. Valuation $13.3B Stripe Sector Cambridge Mobile Telematics has raised a total of $502.5M in funding over 2 rounds. After acquiring TrueMotion Inc. in 2021, Cambridge Mobile Telematics has the pole position in this data-driven . Cambridge Mobile Telematics is funded by SoftBank Vision Fund. . To explore Cambridge Mobile Telematics's full profile, request access. Details of the startup: Country: United States; City: Cambridge-US; Started in: 2010; Founders: Bill Powers, Hari Balakrishnan, Sam Madden, Tim Vogel; Number of employees: 101-250; Funding amount: $502,500,000; Number of . Progressive declined to update this number when asked this year.) Going by Accenture's data, the 10 highest-value investments accounted for half of the total value of insurtech funding recorded in 2018 with a $500m injection into Cambridge Mobile Telematics hitting the top spot. Speaking of telematics, Cambridge Mobile Telematics ("CMT"), which is powering both Plymouth Rock's new Road Rewards Program as well as Arbella's "Wheel Focused" program has shared some sobering statistics with Agency Checklists on the state of Distracted Driving in the U.S. "Cambridge Mobile Telematics has developed behavior-based technology solutions for major insurance providers across the world, and we are delighted to add Buckle as a valued partner," said Ben Bowne, vice president, Global Sales & Partnerships at CMT. "Cambridge Mobile Telematics (CMT) pioneered telematics for usage-based and behavior-based programs making roads and drivers safer around the world. Both companies are insurtechs that provide mobile-phone based telematics platforms and are headquartered in Cambridge, Mass. CAMBRIDGE, Mass. This company was founded in 2010 by Bill Powers, Hari Balakrishnan, Sam Madden and Tim Vogel and is headquartered in Cambridge, MA. . In 2018, CMT raised $500 million from Softbank Vision Fund at an estimated . . Cambridge Mobile Telematics Raises $500M USA Published on December 19, 2018 Cambridge Mobile Telematics (CMT), a Cambridge, MA-based mobile telematics and analytics provider, raised $500m in. Valuation $274.59MM OpenSea Sector FinTech Last Round Est. Cambridge Mobile Telematics has a post-money valuation in the range of $1B to $10B as of Dec 19, 2018, according to PrivCo. Typically, the Vision Fund invests in companies with already-sizable VC war chests. States available: 49 and Washington, D.C. Technology partners: Cambridge Mobile Telematics, Sensata (for OBD devices) Technology platform: Connected car, OBD-II device and mobile app Valuation $10.09B Ledger Sector FinTech Last Round Est. Its mission is to make the world's roads and drivers safer. Cambridge Mobile Telematics $500M Round: Venture Description: Cambridge-based Cambridge Mobile Telematics develops DriveWell, a complete telematics and behavioral analytics solution to improve safety. They achieve this by combining mobile sensing, artificial intelligence, behavioral science, and the Internet of Things into a platform that measures driving quality and encourages drivers to reduce their risky driving behavior. Get in touch 314 Main Street, Suite 1200 Cambridge, MA 02142 info@cmtelematics.com (800) 941-7177 Quick Links Customer Stories Cambridge Mobile Telematics Stock. Cambridge Mobile Telematics's latest funding round in December 2018 was reported to be $500 m. In total, Cambridge Mobile Telematics has raised $502.5 m Show all financial metrics Cambridge Mobile Telematics Operating Metrics Cambridge Mobile Telematics Cybersecurity Score Cybersecurity rating Premium dataset A 97 /100 Cambridge Mobile Telematics Funding Rounds and IPO Valuation Based on primary financings Other companies like Cambridge Mobile Telematics in the FinTech sector Ripple Sector FinTech Last Round Est. About Cambridge Mobile Telematics With 6.5 million drivers on the road using the DriveWell platform and more than 15 million tags shipped around the world, CMT is the global leader in telematics. B . Jun 07, 2022 The companies have announced the launch of 1st CENTRAL Connect, a telematics-based insurance product that provides 1st CENTRAL customers with safe driving discounts at renewal and guidance on making a claim if it detects a crash. 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