Smart Drivinc

insurtechiot-preventive insurance/telematics

FOUNDING YEAR: 2015
LOCATION: United States
Last Update: 08/09/2020

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About

Smart Drivinc is focused on preventing accidents due to smartphone distraction. The patent pending solution disengages the drivers' phone while driving. It differentiates between driver and passenger. Tag line: prevention is better than paying the claim.

MEDICI Analysis

Smart Drivinc provides a distracted driving and crashes prevention app that disables drivers' cell phones while driving. It helps P&C carriers understand their exposure and mitigate it. Currently, the company website is inactive.

Focus

PRODUCTS & SERVICES

SDrive (Accident prevention app) - It helps drivers to avoid distraction from mobile phone while driving.

REVENUE MODEL

Monthly subscription from insurance carriers

MAIN CLIENTS

Vehicle owners

PRIMARY PROBLEM SOLVED

Prevention of accidents

INTELLECTUAL PROPERTY

Patent(s) FILED

company provided insights

Traction

REVENUE

$0 - $99k

NUMBER OF TRANSACTIONS:

1.00

TRANSACTIONS VALUE:

10 K

ACTIVE USERS:

93

People

FOUNDERS

Shashaanka Ashili

Krishna Ashili

BOARD MEMBERS AND ADVISORS

Shashaanka Ashili

INVESTORS:

Global Insurance Accelerator

KEY EMPLOYEES:

Tatagtha Ray

John Whalin

Momentum

FUNDED

NO

TOTAL FUNDING

$40 K

DATE OF LAST FUNDING

2016

SEED & PRIOR FUNDING

$40 K

SEED CLOSED ON

Feb 2016

LISTED

NO

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Smart Drivinc

About

Smart Drivinc is focused on preventing accidents due to smartphone distraction. The patent pending solution disengages the drivers' phone while driving. It differentiates between driver and passenger. Tag line: prevention is better than paying the claim.

Focus

PRODUCTS & SERVICES

SDrive (Accident prevention app) - It helps drivers to avoid distraction from mobile phone while driving.

REVENUE MODEL

Monthly subscription from insurance carriers

TOP PROBLEM SOLVED

Prevention of accidents

PRODUCT DEVELOPMENT STAGE

MARKET TRIAL

PRODUCT DEVELOPMENT COMMENT

Developed hardware and launched the pilots with insurance carriers.

KEY DIFFERENTIATORS

Cost and functionality

PRIMARY CUSTOMER TYPE

Enterprise - Others

STRATEGIC CLIENTS AND PARTNERSHIP

GMRC : cleint

Traction

ANNUAL REVENUE:

$0 - $99k

NUMBER OF TRANSACTIONS:

1.00

TRANSACTIONS VALUE:

10 K

ACTIVE USERS/ACCOUNTS:

93 Million

LIVE USERS/TRANSACTIONS:

Yes, in trial/pilot

How will you grow the number of users/accounts/transactions?

By enlisting more insurance carriers

CHANNEL STATUS

INITIAL CLIENTS

NUMBER OF CLIENTS OR PAYING CUSTOMERS

1

People

NUMBER OF EMPLOYEES

1-10

TEAM COMMENT:

We are experts with deep backgrounds in engineering,analytics.

INVESTORS:

Global Insurance Accelerator

Momentum

FUNDED

YES

LISTED

NO

FUNDING SERIES
Seed
Feb 2016
USD40 K
at a USD4.6 Mvaluation
Comment on Seed
Investments from friends & family, and Global Insurance Accelerator Global Insurance Accelerator