Driver Technologies, a New York-based AI-based mobility tech company, raised $6M in funding.
The round, which brought the total amount to $16M, was led by IA Capital, and CT Innovations, with participation from, Liberty Mutual Strategic Ventures, State Auto Labs/Rev 1, as well as investors from The Social Entrepreneurs’ Fund, ID8 Investments, C2 Ventures and Kapor Capital.
The company intends to use the funds to expand the adoption of its AI-powered dash cam and safety alert app, into insurance-backed programs for commercial and personal drivers, and to pursue direct integrations with insurance, automotive and municipal partners working to enhance road safety.
Led by CEO Rashid Galadanci, Driver Technologies is an AI-based mobility tech company that delivers the products and services needed to keep everyone protected on the road. Their mobile app, Driver, transforms a driver’s phone into a dash cam designed to improve road safety and make mobility technology more accessible. It allows users to video record their trip while receiving safety alerts such as forward collision, driver drowsiness and distraction warnings while also offering cloud-based video storage, roadside assistance services, coaching, and scoring capabilities. Users have full control over their data stored on the Driver Cloud and can choose what to share with interested parties such as employers, insurers and family members.
Over the last six months, the company has launched two subscription plans: Driver Professional for enterprise fleets and Driver Family for households. It has also launched Driver Cooler, a cooling dash cam phone mount designed to encourage hands-free phone usage in the car.
Driver has recently formed multiple new partnerships, including an integration as the only software-first solution on the Geotab Fleet Management Platform, and recently entered the OEM market with TomTom and is protecting the car rental and sharing economy industry with Getaround.
FinSMEs
08/06/2023