TPG and Allianz lead $350 million investment in Cambridge Mobile Telematics

Telematics company Cambridge Mobile Telematics 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 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, 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.

“CMT demonstrates the power and potential of impact-driven technology. 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.” – Akash Pradhan, Business Unit Partner for The Rise Funds.

“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. This deal exemplifies how we use strategic foresight to enhance Allianz through innovation, improving customer experience and promoting safer mobility for all.” – Dr. Nazim Cetin, CEO of Allianz X.

“We are working closely with OEMs and automotive partners globally to drive forward the future of mobility. 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.” – Tomas Kunzmann, CEO of Allianz Partners.

“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. 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.” – Sara Frankowiak, State Farm Vice President & Actuary.

“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. 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.” – William V. Powers, Co-Founder and CEO of CMT.