Driveway

insurtechiot (preventive insurance/telematics)software/whitelabel/apis (insurtech)

FOUNDING YEAR: 2011
LOCATION: United States
Last Update: 01/05/2020

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

About

Driveway is a cloud-based technology that provides auto insurers with comprehensive insured driving data for better pricing intelligence and maximizing the opportunity for lower loss ratios and higher profits. It helps ordinary drivers become safe drivers, and helps insurers find and reward them.

Focus

PRODUCTS & SERVICES

Usage-based insurance app. Smartphone-deployed telematics platform for drivers and insurers

REVENUE MODEL

Driveway follows fee based revenue model.

MAIN CLIENTS

Drivers

EXISTING PARTNERSHIPS

In December

2016

The company has strategic alliance with Verisk to help OEMs connect their customers.

Traction

VALUATION / MARKET CAP:

$66.67 M in 2015

REVENUE COMMENT:

It has an estimated annual revenue of $1.1 M(2016).

People

FOUNDERS

Jake Diner

Igor Katsman

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Altair Capital

Ervington Investments

IMI.VC

Kernel Capital

KEY EMPLOYEES:

Michael Simmons(CEO)

Momentum

FUNDED

YES

TOTAL FUNDING

$11.62 M

DATE OF LAST FUNDING

Jun 2015

TOTAL FUNDING COMMENT

The company is planning to use Series A funds to grow its mobile telematics technology, which apparently gives users “objective ratings” on their driving styles.

SEED & PRIOR FUNDING

$1.62 M

SEED CLOSED ON

Aug 2014

FUNDING SERIES

SERIES A  · $10 M  · Jul 2015

LISTED

NO

BASICS

FOUNDING YEAR:

2011

LOCATION:

United States

Views:

112 VISITORS | 209 VIEWS
LATEST FUNDING ROUND

$11.6 M

TOTAL EMPLOYEES
11-50

About

Driveway is a cloud-based technology that provides auto insurers with comprehensive insured driving data for better pricing intelligence and maximizing the opportunity for lower loss ratios and higher profits. It helps ordinary drivers become safe drivers, and helps insurers find and reward them.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

Focus+
Momentum+
Traction+
People+
Other+

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack