TPG and Allianz have led a $350m strategic investment in Cambridge Mobile Telematics, as the private equity firms back the expansion of AI-driven road safety and mobility solutions.

The transaction, which also includes participation from State Farm, will support the company’s growth across its global platform, including scaling its telematics infrastructure and advancing real-time AI risk models.

TPG is investing through The Rise Funds, its impact-focused strategy, while Allianz is participating via its investment arm Allianz X, reinforcing its focus on data-driven insurance innovation.

The deal is accompanied by long-term commercial agreements with Allianz entities, enabling the deployment of telematics-based insurance solutions across Europe.

“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.”

Cambridge Mobile Telematics operates one of the largest global telematics platforms, supporting tens of millions of drivers across multiple markets and leveraging AI to improve road safety outcomes.

The company’s technology has helped prevent over 100,000 crashes and is used by insurers, automotive manufacturers, and mobility providers worldwide.

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