RapidSOS has picked up $16m in its latest funding round led by Highland Capital Partners.
Other contributions to the round came from Microsoft Ventures, CSAA Insurance Group and Forté Ventures.
Founded in 2013, RapidSOS is a IOT solution that sends lifesaving data to help in emergency response. Data from connected devices such as real-time health data from wearables, telematics from connected cars, smoke density from smart homes, precise location from mobile devices, is used to help first responders.
Insurance firms utilise RapidSOS’ services to engage with customers and encourage safety and health. Quicker response times and emergency alerts allow the companies to proactively manage claims, while telematics data speeds up claim processing.
Capital from the round will be used to further deploy its data to first responders across the US.
Forté Ventures partner Dave Nagel said, “Internet of Things devices have created enormous potential for keeping people safer and better connected to first responders in emergencies. The challenge is communicating valuable data between connected devices and antiquated 9-1-1 public infrastructure.”
The company’s total funding efforts have reached $30m, having closed its Series A round on $14m last year. The previous investment was also led by Highland Capital, while A3 Ventures, The Westly Group, Two Sigma Ventures, Motorola Solutions Venture Capital and Responder Ventures also participated.
Copyright © 2018 FinTech Global
