Even if self-driving cars aren’t part of our daily lives yet, vehicles are becoming internet-connected at a rapid pace.
Gartner predicts that one-fifth of all autos on the road, and a great majority of new vehicles being produced worldwide, will have wireless network connectivity by 2020. Yet, few organizations have access to use the data generated by these vehicles today.
That’s where Otonomo, a startup based in Herzliya, Israel comes in.
The company’s systems gather driver and vehicle data from disparate automakers and original equipment manufacturers. It then normalizes the data, so different organizations can use it to learn more about drivers collectively, or reach them with new products and services.
Otonomo has raised $12 million in venture funding to scale its technology and business. Bessemer Venture Partners led the round, joined by StageOne Ventures, Maniv Mobility and LocalGlobe.
Along with the venture funding, Otonomo announced that Steve Girksy, a former vice chairman of GM, and Mary Chan, a former general manager of OnStar, have joined its board of advisors. Andy Geisse, who previously ran AT&T Business Solutions, joined Otonomo’s board of directors, as well.
Bessemer Venture Partners’ Vice President Amit Karp said what Otonomo is doing today will help bring new products and services to automotive and adjacent industries like insurance, smart cities, transportation and travel, or finance.
