Valor Siren Ventures has led a $5m seed funding round for ping, a patented voice platform for the gig economy, auto insurance and fleets.
Valor’s investment was accompanied by an investment from Ash Creek Capital Advisors.
ping said 71% of commercial vehicle crashes involve distracted driving. Additionally, companies tell workers not to use their smartphones while driving, but also expect them to be responsive and deliver exceptional services. The gig economy actually required drivers to check their phones.
As a result, ping said lawsuits are mounting. Its patented voice technology offers a solution.
The technology reads delivery updates, dispatches notifications, and other urgent messages out loud. This reduces risk and increased efficiency as it is hands and eyes-free.
Garin Toren, CEO of ping, said, “Our mission is to get every driver home safely. We designed ping’s voice functionality to add considerable value to gig drivers and other commercial vehicle apps. AI-driven telematics coaches drivers, and provides extensive driving data to the organisation.”
The insurance industry is seeing a growing use of telematics, particularly in the auto insurance industry. Buckle, a tech-enabled financial services company, partnered with Cambridge Mobile Telematics (CMT), to bring its telematic platform to gig economy drivers. Buckle provides rideshare and delivery drivers with personal and commercial coverage in a single auto insurance policy.
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