Zendrive, a company that uses data and analytics to make roads safer on Thursday announced it has raised USD 37 million in Series B funding.
The round was led by XL Innovate with participation by Hearst Ventures and existing investors, including ACME Capital, BMW iVentures, NYCA, SignalFire, and others.
With this funding, Zendrive will continue to build out its mobile driving safety solution and grow its team across five continents to deepen its focus on the global insurance market, the company said in a release.
Zendrive has offices in San Francisco and Bengaluru.
The Research and Development centre headquartered in the city since 2014 includes data science, engineering, and product teams, all developing solutions to the "most complex problems" around road safety, the company claimed.
"Zendrive was founded to make roads safe with data and analytics.
As we enter this next phase of the business, we are excited to continue to push the innovation curve forward and align with partners who are similarly committed to improving driving behavior using technology and incentives," Zendrive CEO & Co-founder Jonathan Matus said.
Disclaimer: No Business Standard Journalist was involved in creation of this content
