Fairmatic Raises $42M To Redefine Commercial Auto Insurance With Data And Ai
08/31/22, 1:03 PM
Location
new york
Money raised
$42 million
Industry
artificial intelligence
Insurtech 2.0 company Fairmatic today destealths a unique offering that pioneers an unconventional approach to fleet insurance — focused on enabling savings for safer fleets and improving road safety for all. Fairmatic is led by an all-star team including former Allstate President Jamie Trish, as its President of Insurance, and Jonathan Matus, former Android and Facebook mobile executive, as its CEO. Fairmatic also announced a $42 million Series A funding round led by Foundation Capital.
Company Info
Location
new york, new york, united states
Additional Info
Fairmatic is shaping Insurtech 2.0 by delivering the first data-driven fleet insurance that rewards safety with savings. Fairmatic's unconventional approach to fleet insurance leverages AI-powered technology in combination with troves of telematics data to create meaningful cost savings for fleets, safer roads for society and a profitable business model. Fairmatic's underwriting model has been trained and tested with over 200 billion miles of driving data to help fleets proactively manage safety issues with actionable insights.
Founded in 2017 by Jonathan Matus, a serial technologist who helped launch Android and Facebook mobile, Fairmatic is fundamentally reimagining commercial auto from the ground up to make roads safer, one fleet at a time. Following its latest Series A round, Fairmatic has raised a total of $42M from Foundation Capital, Aquiline Technology Growth and other insurtech, fintech and technology angel investors. Fairmatic is expanding its global team. Learn more about Fairmatic at fairmatic.com or join the team of unconventional, adaptable and curious technologists by reaching out to careers@fairmatic.com.