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Mobile telematics provider Cambridge Mobile Telematics raises $500M

By TechTaffy Desk

Mobile telematics and analytics provider Cambridge Mobile Telematics (CMT) has raised a $500 million investment from the SoftBank Vision Fund.

Founded in 2010 by two MIT professors, CMT uses smartphone data for insights on driver behavior for behavior-based insurance (BBI). The company’s telematics and behavioral analytics solution DriveWell, is being used by over 25 customers on six continents, according to the company website.

[Image courtesy: Cambridge Mobile Telematics]

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