Collision Management Systems (CMS), a Milton Keynes, UK-based telematics and insurance data aggregation specialist, received a £1.25m investment.
BGF provided the funding and, in conjunction with the deal, James Syrotiuk, will join CMS’ board
The company intends to use the funds to accelerate its market expansion, assisted by the hiring of more senior product and sales staff in the UK and US.
Founded in 2012 by Charles Smith, CEO, Collision Management Systems provides a data aggregation, risk management and crash detection software platform for telematics and insurance businesses.
During the last year, the company closed strategic licensing deals with insurers such as Swiss Re and telematics vendors.
CMS, whose flexible platform is also opening up vertical opportunities at home, including recent consultations with Heathrow’s Innovation Technologists, is now engaged in projects in the USA, South America, Middle East and Japan.