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Driveway logo — Empowering drivers with safety while enabling insurers to re...

Driveway

Empowering drivers with safety while enabling insurers to reward them through advanced AI technology.

Founded 2011 Venture round Total: $11.63M AI, Insurance +3

General Information

Company Name Driveway
Founded Year 2011
Industries AI, Insurance, Insurtech +2
Funding Stage Venture round
Social

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About Driveway

Driveway is a cloud-based platform founded in 2011, with a mission to empower drivers with safety and enable insurers to reward them through advanced AI technology. The company equips auto insurers with detailed driving data, enabling more accurate pricing and the potential for reduced loss ratios and greater profits. It operates in the Insurance and Insurtech industries, with a focus on setting high benchmarks in the Usage-Based Insurance sector. Driveway's patented AI technology automatically assesses driving behaviors directly from a driver's smartphone, utilizing sensor fusion, machine learning, and artificial intelligence algorithms to detect car trips and driver aggressiveness without the need for plug-in hardware. The latest investment was a Venture Round investment at 01 August 2016, led by Plug and Play Insurtech. The technology's standout features include affordability, scalability, and ease of implementation, making it a cost-effective solution for market introduction. Driveway's innovative approach not only enhances driver safety but also provides insurers with valuable data for more informed decision-making, making it an attractive investment opportunity for Venture capital firms seeking to capitalize on the growing Insurtech market.

Taxonomy: Usage-Based Insurance, AI Technology, Safety, Insurers, Auto Technology, Cloud-Based Platform, Driving Behavior, Driving Data, Sensor Fusion, Smartphone App, Telematics, Cost-Effective Solutions

Funding Rounds & Investors (5)

View All
Funding Stage Amount Investors Lead Investors Date
Venture Round Undisclosed 1
Plug and Play Insurtech
01 Aug 2016
Series A $10.00M 3
AltaIR Capital Millhouse
AltaIR Capital, Millhouse +1
31 Jul 2015
Series A $1.30M 4
AltaIR Capital Kernel Capital IMI.vc
AltaIR Capital, Kernel Capital +2
30 Aug 2013
Seed Round $325.00K 1
AltaIR Capital
AltaIR Capital
30 Jul 2012
Grant Undisclosed 1
MassChallenge
MassChallenge
01 Nov 2011

Driveway Alternatives & Competitors

Driveway vs
Root Insurance
Root Insurance

Personalized, affordable coverage driven by your unique driving habits and needs, ensuring safe driv...

Post-IPO Debt
Insurance, Insurtech
Driveway vs
Artificient Mobility Intelligence
Artificient Mobility Intelligence Germany

Unlocking Hidden Value in Every Mile, Powered by Predicative AI from Research

Pre-Seed
4 employees
Analytics, Computer Vision
Driveway vs
Zensung Singapore Pte. Ltd.
Zensung Singapore Pte. Ltd. Singapore

Zensung Singapore Pte. Ltd. is a Singapore based FinTech-InsurTech company.

Pre-Seed
23 employees
Financial Services, Fintech

FAQ About Driveway

Empowering drivers with safety while enabling insurers to reward them through advanced AI technology.
Driveway was founded in 2011.
Driveway operates in AI, Insurance, Insurtech, Mobile and Machine Learning. Its work centres on Usage-Based Insurance, AI Technology, Safety and Insurers.
Driveway has completed 5 funding rounds, raising a total of $11.63M. The latest funding stage is Venture round.
Top alternatives and competitors to Driveway include Root Insurance, Artificient Mobility Intelligence, Zensung Singapore Pte. Ltd., Rooster, Zendrive. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
Driveway and Root Insurance are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

Source: BounceWatch company record for Driveway, https://bouncewatch.com/company/driveway-1, updated 10 October 2024. When citing, please name BounceWatch and link this page.

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