Cambridge Mobile Telematics (CMT), the world’s largest telematics and AI company for safer mobility, announced a $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.”