Total amount raised
$57 Millions
Latest funding date
08/01/2019
Location
Zendrive has successfully raised significant funding over multiple rounds, positioning itself as a key player in the mobility safety industry. The company's platform leverages data from over 200 billion miles of driving to offer advanced risk modeling and usage-based insurance solutions.
Keep reading to explore the intricacies of Zendrive's fundraising journey and the investors backing this innovative platform.
What Is Zendrive?
Zendrive is a company dedicated to enhancing mobility safety and risk intelligence. Leveraging data from over 200 billion miles of driving, Zendrive's Mobility Risk Intelligence (MRI) platform provides actionable insights for smarter underwriting, claims automation, roadside assistance, customer acquisition, and driver analytics.
Serving industries such as auto insurance, automotive OEMs, mobile network operators, fleet risk management, consumer apps, and commercial insurance, Zendrive partners with various organizations to improve safety and efficiency in mobility through advanced technology and data analytics.
How Much Funding Has Zendrive Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's initial development and operations.
- Seed Round
- Amount Raised: $1.5M
- Date: August 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and expand the team.
- Venture Round
- Amount Raised: $5M
- Date: November 2014
- Lead Investors: BMW i Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series A
- Amount Raised: $13.5M
- Date: February 2016
- Lead Investors: ACME Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development and scaling of Zendrive's technology and services.
- Series B
- Amount Raised: Not publicly disclosed
- Date: January 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue product development and market expansion.
- Series B
- Amount Raised: $37M
- Date: August 2019
- Lead Investors: XL Innovate
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance mobile driving safety solutions and expand the team across five continents.
Total Amount Raised: $57M
Current Valuation: Not publicly disclosed
Key Investors
- XL Innovate
- Details: XL Innovate is a venture capital firm that focuses on investing in companies innovating in the insurance sector. They led Zendrive's Series B funding round.
- Investment Focus Areas: Insurance innovation.
- Notable Investments: Known for investments in insurance technology companies.
- Hearst Ventures
- Details: Hearst Ventures is the venture capital arm of Hearst Corporation, investing in early-stage and growth-stage companies. They participated in Zendrive's Series B funding round.
- Investment Focus Areas: Media, technology, data analytics.
- Notable Investments: BuzzFeed, Pandora, Roku.
- ACME Capital
- Details: ACME Capital is a venture capital firm that invests in early-stage and growth-stage companies across various sectors. They are an existing investor in Zendrive.
- Investment Focus Areas: Technology, consumer products.
- Notable Investments: Airbnb, Uber.
- BMW iVentures
- Details: BMW iVentures is the venture capital arm of BMW, investing in innovative and high-growth companies in the automotive and mobility sectors. They are an existing investor in Zendrive.
- Investment Focus Areas: Automotive technology, mobility services.
- Notable Investments: ChargePoint, RideCell, Nauto.
- NYCA
- Details: NYCA is a venture capital firm specializing in fintech investments. They are an existing investor in Zendrive.
- Investment Focus Areas: Financial technology.
- Notable Investments: Acorns, Affirm, Lending Club.
What's Next for Zendrive?
Zendrive is poised to capitalize on the burgeoning market for mobile driving safety solutions, with opportunities to expand its product offerings and partnerships. The company’s tools like FullStop and RiskReveal, along with its vast driving data, position it well to lead in the InsureTech industry. The global expansion across five continents signifies a large-scale operational growth, potentially attracting further investment rounds.
Future fundraising opportunities appear promising as Zendrive continues to innovate and enhance its AI-driven safety solutions. However, the company may face challenges such as scaling operations, ensuring product effectiveness, and maintaining a competitive edge in a rapidly evolving market. Despite these hurdles, Zendrive's commitment to improving road safety through data and analytics sets a strong foundation for future success.
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