Driveway Software, Inc. Raises $10 Million in Series A Funding to Conquer Mobile Telematics and Use Big Data to Disrupt The Insurance Industry
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"Since we launched five years ago, our smartphone app, Drivewise.ly, has collected over 500,000,000 miles and rewarded more than 250,000 drivers," said
Driveway is a smartphone-deployed telematics platform designed to reward safe driving. The iOS and Android app, paired with powerful cloud analytics, automatically and objectively scores driver behavior. For insurance companies, the platform yields increased profits by attracting safer drivers who are segmented and priced more efficiently based on individually measured risk profiles. For consumers, the platform offers transparent, personalized pricing and actionable suggestions, helping over 80% of them to earn rewards for being safer drivers.
Driveway previously completed a
More information is available at http://drivewaysoftware.com
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