Driveway Software, Inc., a San Francisco, CA-based Big data and mobile telematics company, closed a $10m funding.
The round was led by Ervington Investments, representing Russian businessman Roman Abramovich.
The company intends to use the funds to further strengthen its solution, create new markets and grow the team.
Led by Igor Katsman, Founder, Driveway is a smartphone-deployed telematics platform designed to reward safe driving. The iOS and Android app, paired with cloud analytics, automatically and objectively scores driver behavior. It allows insurance companies to attract safer drivers who are segmented and priced based on individually measured risk profiles while offering consumers personalized pricing and actionable suggestions.
Driveway previously completed a $1.3m seed round in August 2013, with participation from AltaIR Capital, IMI.VC, and Kernel Capital.