Cambridge Mobile Telematics raises USD 500m to accelerate adoption of DriveWell platform

Cambridge Mobile Telematics (CMT), the world´s mobile telematics and analytics provider, has secured a USD 500 million investment from the SoftBank Vision Fund, the company said.

This investment will accelerate the adoption of CMT´s successful DriveWell platform used by insurers, fleets, wireless carriers, and other entities to measure driving risk and improve driver safety. It will also fuel CMT´s growth in automated crash and claims management, video analytics, and safety for emerging vehicle and mobility systems. The investment is subject to regulatory approval.

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. Since its first product launch in 2012, which helped establish the new category of mobile usage-based insurance, CMT has grown to become the world´s mobile telematics and analytics company.

Headquartered in Cambridge, MA, steps from the MIT campus, CMT´s award-winning DriveWell platform is used by insurers, fleets, cellular carriers, and other organizations in more than 20 countries, improving safety for millions of mobile users. To learn more, visit cmtelematics.com and follow CMT on Twitter @cmtelematics.