Israeli cloud based connected car startup Otonomo has closed a $12 million series A round, led by Bessemer Venture Partners and Stageone Ventures, with participation from Maniv Mobility and LocalGlobe.
Founded in 2015 by CEO Ben Volkow and president Avner Cohen, Otonomo's cloud based platform facilitates services for autonomous and connected cars. The Herzliya based company has raised $15 million to date.
Volkow said, “Gartner has predicted that by 2020, a quarter of a billion connected vehicles will be on the road - all of which will depend on in-car digital apps. But in order for cars to provide the best connected service for drivers, car manufacturers need a platform they trust to share and negotiate data between them and application providers while meeting different data and privacy regulations that respect and accommodate drivers’ privacy. That’s where Otonomo comes in, as our integrated cloud-based platform is a trusted gateway between the services and apps drivers want and the security the automotive industry needs.”
Otonomo is working with major automakers to help them monetize their data and monitor customer experience as well as with OEMs and car service providers.
Steve Girksy, a former vice chairman of GM, and Mary Chan, a former general manager of OnStar, have joined Otonomo's board of advisors. Andy Geisse, for4mer head of AT&T Business Solutions has joined Otonomo’s board of directors.
Published by Globes [online], Israel business news - www.globes-online.com - on November 2, 2016
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