AMODO is a technology company.
AMODO has raised $500K across 1 funding round.
AMODO has raised $500K in total across 1 funding round.
Amodo is an InsurTech company that provides a Connected Insurance platform enabling insurance carriers and brokers to develop usage-based insurance (UBI) products by analyzing behavioral driving data from mobile apps.[1] Founded in 2013 and based in Zagreb, Croatia, it serves the insurance industry with technology and advisory services, tracking metrics like speed, cornering, acceleration, and braking to deliver driver insights and rewards, improving scores for safer habits.[1][5] The company raised $4.3M before being acquired by Cambridge Mobile Telematics in March 2023, powering UBI for prominent global insurers.[1]
(Note: Multiple entities share the "Amodo" name, including an HR tech consulting firm in Canada [2] and a VR/AR gamification company [3], but the primary match for a technology company in investment contexts aligns with the InsurTech leader.[1])
Amodo was founded in 2013 in Zagreb, Croatia, focusing on insurance telematics to revolutionize how insurers assess driver risk through real-time data.[1][5] The core idea emerged from recognizing untapped potential in vehicle telematics—collecting data via mobile apps to create personalized insurance experiences, rewarding safe driving with scores and insights.[1][4] Early traction came from partnerships with major insurance companies worldwide, validating its platform for UBI products and leading to steady growth until its acquisition by Cambridge Mobile Telematics in March 2023, which expanded its global footprint.[1]
Amodo rides the InsurTech and telematics wave, capitalizing on rising demand for usage-based insurance amid surging auto premiums and road safety priorities.[1][5] Timing aligns with smartphone proliferation and AI-driven analytics, enabling precise risk pricing over outdated demographics—market forces like regulatory pushes for safer driving (e.g., EU mobility trends) and insurer digitization favor it.[1] Post-acquisition by Cambridge Mobile Telematics, Amodo amplifies the ecosystem by integrating into larger fleets, influencing how gig economy, automotive OEMs, and sustainable mobility adopt data-driven insurance, reducing accidents via behavioral nudges.[1]
Under Cambridge Mobile Telematics, Amodo's platform will likely expand into AI-enhanced crash detection and fleet management, fueled by trends like autonomous vehicles and climate-driven insurance shifts.[1] Evolving regulations on data privacy and electrification will shape its path, potentially growing influence in emerging markets. As telematics becomes standard, Amodo solidifies as a key enabler of personalized, safer insurance—transforming drivers from risks to rewarded partners, much like its founding vision of data-powered experiences.[1][4]
AMODO has raised $500K in total across 1 funding round.
AMODO's investors include 2xN, Cervin Ventures, CP Ventures, Hoxton Ventures.
AMODO has raised $500K across 1 funding round. Most recently, it raised $500K Seed in June 2016.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jun 1, 2016 | $500K Seed | 2xN, Cervin Ventures, CP Ventures, Hoxton Ventures |