Why should defensive drivers settle for roughly the same monthly insurance premiums as their less responsible, more aggressive peers? That niggling question motivated Google and Facebook veteran Jonathan Matus to found , a service that collects data about driving habits and awards drivers for making safe decisions. It’s been chugging along since 2013, the year the San Francisco startup quietly emerged from stealth. But now, Zendrive is gearing up for growth with an influx of capital from enthusiastic backers, some of whom are new.
Zendrive today revealed that it’s raised $37 million in series B funding led by XL Innovate, with participation by Hearst Ventures, BMW iVentures, ACME Capital, NYCA, SignalFire, and others. The fresh cash brings the company’s total raised to nearly $60 million