- Partnership to Expand Global Road Safety Platform and Real-Time AI Risk Models
- Accompanied by New Long-Term Commercial Agreements Between Allianz and CMT
Cambridge Mobile Telematics (CMT), the world’s largest telematics and AI company for safer mobility, today announced a USD 350 million strategic investment led by TPG and Allianz X, with participation from State Farm. The new investors will accelerate CMT’s expansion in three key areas: scaling its global road safety platform, advancing AI models for real-time driving risk assessment and crash detection, and growing adoption of the new Universal Driving Score.’
The strategic investment is accompanied by long-term commercial agreements with various Allianz Group operating entities, including Allianz Partners and Allianz Versicherungs-AG, to collaborate on data-driven insurance and service offerings across Europe for retail customers, automotive original equipment manufacturers (OEMs), and mobility partners. The partnership with CMT will enhance Allianz’s strategic capabilities, foster innovation, and promote safer mobility by combining telematics solutions with Allianz’s global expertise as a leading motor insurer and assistance services provider.
TPG is making its investment through The Rise Funds, the multi-sector strategy of its global impact investing platform, and Allianz, a leading global insurer, is investing via Allianz X, its strategic investment arm. TPG’s deep expertise in technology and AI investing, combined with Allianz’s 136-year legacy in protection, will support CMT’s next phase of growth and expansion. State Farm, whose Drive Safe & Save program is one of America’s most widely used telematics platforms, sees CMT’s real-time risk platform as a natural extension of its broader strategy of applying AI and data to improve outcomes for the customers and communities it serves.
“CMT demonstrates the power and potential of impact-driven technology,” said Akash Pradhan, Business Unit Partner for The Rise Funds. “With the company’s data and DriveWell Atlas AI models, we are empowering drivers to make safer decisions, while also helping to make auto insurance more affordable. We are excited to partner with CMT, Allianz, and State Farm to expand the company’s leadership position in AI-driven telematics.”
“At Allianz X, we don’t just invest; we build the capabilities and partnerships that shape the future of insurance and mobility. By combining CMT’s telematics solutions with Allianz’s global reach, we shift from reacting to risks to preventing them,” said Dr. Nazim Cetin, CEO of Allianz X. “This deal exemplifies how we use strategic foresight to enhance Allianz through innovation, improving customer experience and promoting safer mobility for all.”
“We are working closely with OEMs and automotive partners globally to drive forward the future of mobility,” said Tomas Kunzmann, CEO of Allianz Partners. “CMT’s technology enables us to provide even more tailored and data-driven insurance and assistance services to our partners and customers, ensuring peace of mind along the whole customer journey.”
Telematics technology has become a transformative force in the insurance industry, offering unprecedented insights into driving behavior, crash detection, and vehicle usage. By leveraging driving data from vehicles, phones, and IoT devices—with driver consent—insurers like Allianz and State Farm can better identify and positively influence risk, personalize insurance policies, and promote safer, more sustainable driving habits.
“Our partnership with CMT allows us to use technology to prevent accidents and improve our motor insurance products, but most importantly, it enables us to provide our customers and their families with even better protection,” said Frank Sommerfeld, CEO of Allianz Versicherungs-AG.
“For State Farm, the investment reflects its commitment to leveraging technology to better serve the more than 90 million policies it holds across the U.S., including through more accurate risk assessment that benefits customers directly,” said Sara Frankowiak, State Farm Vice President & Actuary. “CMT’s platform moves us closer to a world where crash prevention is possible for every driver. As a mutual company with a history of helping people protect what matters most, safer drivers mean better outcomes for everyone — and lower cost of coverage for our customers.”
CMT’s award-winning platform—trusted by tens of millions of drivers, top insurers, automakers, commercial mobility companies, and the public sector—combines advanced telematics and data solutions with AI to shift the industry from reactive to proactive road safety measures. It has prevented over 100,000 crashes, protected 55 million drivers in 25 countries, and helped engage people in safer and more sustainable driving behaviors through 140 programs worldwide.
“Today’s investment strengthens our work to create safer roads, stronger communities, and a better future, and we’re energized by our partnerships with TPG, Allianz, and State Farm,” said William V. Powers, Co-Founder and CEO of CMT. “Every crash we prevent, every life we protect, and every driver we help improve brings us closer to solving one of the world’s biggest challenges. We’re applying the full power of AI to transform mobility on a global scale to help save lives, reduce costs, and support more sustainable transportation.”
Citigroup served as sole placement agent to CMT in relation to the transaction. Moelis & Company LLC served as financial advisor to TPG.
