Cambridge Mobile Telematics acquires Amodo
Cambridge Mobile Telematics has acquired Amodo, a telematics company based in Europe. The acquisition brings together two telematics companies with large and growing footprints in Europe, giving Amodo’s customers access to “the most advanced telematics solutions” for driver risk measurement, proactive crash and claims services, and behavioral modification to reduce driving risk. Amodo will adopt the CMT name.
Founded in 2015, Amodo raised $3.8 million and it is a team of ~30 according to LinkedIn data. In 2021, CMT acquired telematics provider TrueMotion.
CMT now powers over 95 active telematics programs in 25 countries, including nine in continental Europe. Insurers, automakers, gig companies, fleet operators, and mobility companies offer these programs to consumers with a broad range of experiences and benefits such as insurance discounts, improving driving behaviors, and getting automatic roadside assistance “within minutes” after a crash.
“CMT is rapidly expanding its global footprint beyond the United States, where CMT serves 21 of the top 25 insurers. In just the past few years, we’ve become the trusted partner for insurers and mobility providers on five continents. We’re strengthening our European efforts by adding Amodo’s expansive market knowledge and deep relationships, and doubling our team in Europe to over 100 people to enable more European organizations to realize the incredible benefits of telematics — all while saving lives on the road.” – William Powers, CMT’s CEO.
“We’re delighted to join CMT and unite behind their vision to make the world’s roads and drivers safer. From try-before-you-buy, to pay-as-you-drive, to pay-per-mile, our team has launched over 50 telematics programs over the past nine years. We look forward to bringing our capabilities and market expertise in Europe and beyond to CMT.” – Marijan Mumdziev, Amodo’s CEO who will become CMT’s Managing Director of Europe.