San Francisco-based mobile technology company Zendrive has obtained US$13.5 million in a Series A financing, bringing its total investment to US$15 million. The latest round was led by Shervin Pishevar of Sherpa Capital. Other investors included Thomvest Ventures, the US$250 million venture capital fund of Canada’s Peter Thomson, as well as Nyca Partners and First Round Capital. Zendrive’s technology leverages mobile sensor data to provide insights that improve safety for car passengers and drivers. It will use the new funds to grow its team and continue product development.
PRESS RELEASE
Zendrive Raises $13.5M In Series A To Make The Future Of Transportation Safer
SAN FRANCISCO, Calif., Feb 4, 2016 – Zendrive <www.zendrive.com>, the mobile technology that makes roads safer through data and analytics, today announced it has raised a $13.5 million Series A round led by Shervin Pishevar of Sherpa Capital with participation from Nyca Partners, Thomvest Ventures, and existing investors First Round Capital, BMW i Ventures, Fontinalis Partners (Bill Ford), and Tad Montross. The funding will drive the company’s focus on safety innovation as the world rapidly moves toward the future of transportation.
“Personal car ownership is peaking, and our transportation needs are increasingly served by on-demand and other commercial transport services,” said Jonathan Matus, CEO and co-founder of Zendrive. “Safety should always be the most important consideration in building new models of transportation, and we believe in the power of data to make this a reality.”
Through its product suite, Zendrive’s SDK technology taps mobile sensors to measure driver safety through actions like acceleration, braking, swerving, and phone use, among many others. Zendrive, founded by Google and Facebook veterans, is utilizing powerful artificial intelligence algorithms and hundreds of billions of data points to analyze sensor data and return actionable insights for fleets and drivers. Because it’s software-based, managing and scaling within any number of vehicles is simple and affordable, allowing for more flexibility than a hardware solution.
“Zendrive represents the natural evolution of safety for the next wave of transportation innovation,” said Shervin Pishevar, co-founder of Sherpa Capital. “Stacked with mobile and data experts from Google and Facebook, this team has introduced the first significant driver and passenger safety innovation since airbags.”
Zendrive’s technology can be used by a broad list of industries and products including on-demand services, commercial fleets, insurance, city planning, mapping, driving instruction, roadside assistance, and more. Together, these industries span hundreds of millions of drivers worldwide.
With its new investment, Zendrive plans to grow its team and continue honing its road safety technology. This round brings the company’s total investment up to $15 million.
About Zendrive
Zendrive is a company dedicated to making roads safer through data and analytics. It represents the next wave of safety innovation as the world rapidly moves toward the future of transportation that includes on-demand and autonomous vehicles. Through its product suite, Zendrive leverages mobile sensor data to provide actionable insights that improve safety for passengers and drivers. Launched in 2013 and based in San Francisco, Zendrive has analyzed hundreds of billions of data points and raised $15M in funding from investors including Sherpa Capital, First Round Capital, BMW i Ventures, Nyca Partners, Thomvest Ventures, and Fontinalis Partners (Bill Ford). To learn more, visit Zendrive.com or find us on Twitter at @Zendrive.
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