Today, Otonomo announced $46 million in series C funding, which brings our total funding raised to $82 million. I’m honored that we’re able to work with new investors like SK Holdings, Avis Budget Group, and Alliance Ventures as well as existing investors such as Bessemer Venture Partners and Stageone Ventures to bring our vision to life.
Over the last year, our connected car ecosystem has evolved at an accelerating pace. We’re now ingesting over 2.6 billion data points a day, coming from over 20 million vehicles and more than a dozen different data provider partners, such as Daimler, BMW, Mitsubishi and others.
Our ecosystem of service providers partners who provide a rich diversity of offerings, including emergency services, traffic and mapping, on-demand fueling, parking, predictive maintenance, usage-based insurance, media measurement, concierge services, and dozens of smart city services continues to expand. To support this growth, it was time to invest in new capabilities to scale our business. These include:
- Research and development, to strengthen the data reshaping capabilities of the Otonomo Platform, scale the data pipeline, and facilitate data access by our ecosystem
- Full-scale customer support for data on-boarding and data utilization
- Further expansion into global geographies
Since I started Otonomo, the world has changed a lot. However, our mission remains the same:
- Improving transportation in urban environments by increasing the utilization of valuable car data
- Enabling new possibilities for diverse companies around the world
- Putting driver privacy and safety first
I am thankful for and excited about our new investment partners. They bring expansive experience in the automotive ecosystem and will be a real asset to the whole team. They have put their trust in Otonomo and we will continue to focus on delivering this highest quality data services to the market.
You can read the full press release here.