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You are here: Home / Archives for Venture Capital

Erie Insurance Launches Venture Capital Fund

August 25, 2022 By CollisionWeek Editor

Erie Insurance today announced the establishment of Erie Strategic Ventures, a venture capital fund to support visionary entrepreneurs. The fund is part of the company’s commitment to supporting entrepreneurship and delivering innovative products, services and experiences to its customers and network of independent agents. Erie is the 13th largest private passenger auto insurer in the […]

Filed Under: News Tagged With: Agreements Signed, Erie Insurance, Venture Capital

UVeye Announces Strategic Collaboration with General Motors to Commercialize Vehicle Inspection Technology Globally

June 23, 2022 By CollisionWeek Editor

UVeye receives investment from GM’s capital venture arm. UVeye, a provider of advanced vehicle diagnostic systems, announced that it has received an investment from the capital venture arm of General Motors, GM Ventures, to help fund the development and commercialization of the company’s vehicle inspection technology. UVeye also has entered into a commercial agreement with […]

Filed Under: News Tagged With: Agreements Signed, General Motors, UVeye, Venture Capital

State Farm Doubles Venture Capital Effort

January 28, 2022 By CollisionWeek Editor

State Farm Ventures announced the expansion of its venture capital investment fund to $200 million, up from the initial commitment of $100 million in September 2018. The fund focuses on start-up companies that align with the strategic goals of State Farm, which include helping meet customers’ needs in more ways. “Throughout our 100-year history, continuous […]

Filed Under: News Tagged With: State Farm, Venture Capital

State Farm Ventures Among Investors in AI-Computer Vision Company

November 19, 2021 By CollisionWeek Editor

Nexar’s network of dash cameras collect more images that are being used to create a complete digital twin of U.S. roads. Nexar, an artificial intelligence (AI) computer vision company, announced the completion of a $53 million Series D funding round led by Qumra Capital with the participation of State Farm Ventures, Catalyst Investments, Banca Generali, […]

Filed Under: News Tagged With: Artificial Intelligence, State Farm, Venture Capital

Nationwide Invests in ADAS Validation Platform Provider Foretellix

September 1, 2021 By CollisionWeek Editor

Nationwide, the insurance and financial services company is making a venture capital investment in Foretellix, a platform provider automating the testing, verification, and validation for automated driving systems, both ADAS and AV, and ensuring safety. The investment is part of the Israel-based company’s Series B funding round and comes from Nationwide’s $350 million venture capital […]

Filed Under: News Tagged With: Advanced Driver Assistance Systems, Autonomous Vehicles, Nationwide, Venture Capital

Nationwide Expands Venture Capital Investment Fund to $350 Million

February 11, 2021 By CollisionWeek Editor

Nationwide announced it is expanding its venture capital investment fund to $350 million. The funding will be directed into high-growth potential insurance and financial services startups that directly advance Nationwide’s strategy and enable even greater customer value. To date, Nationwide’s venture capital team has invested in 25 companies and has helped facilitate 31 partnerships between […]

Filed Under: News Tagged With: Nationwide Insurance, Snapsheet, Venture Capital

State Farm Venture Capital Arm Looks for Start-Ups to Fund

May 12, 2020 By CollisionWeek Editor

State Farm Ventures Investment Focus

State Farm Ventures highlighted its search for disruptive technologies that would benefit State Farm Policy holders and has added the ability to pitch ideas at its new website. State Farm Ventures, a wholly owned subsidiary of State Farm, launched in 2018 with a $100 million investment commitment and has already provided funding to nine companies. […]

Filed Under: News Tagged With: Claims Technology, State Farm, Venture Capital

Tractable Raises $25M in Series C Investment Round

February 27, 2020 By CollisionWeek Editor

Tractable, the technology company developing artificial intelligence (AI) for accident and disaster recovery, announced a $25 million Series C investment, led by Georgian Partners with participation from existing investors, including Insight Partners and Ignition Partners. The round nearly doubles the total raised by Tractable, to $55 million. The investment will be used to accelerate Tractable’s […]

Filed Under: News Tagged With: Artificial Intelligence, Claims Technology, Tractable, Venture Capital

New Mountain Capital Invests in Classic Collision

January 17, 2020 By CollisionWeek Editor

New Mountain Capital Invests in Classic Collision

Classic Collision, Inc., the Atlanta, Ga.-based multi-store operator (MSO) of 34 collision repair facilities in the Southeastern U.S., announced that it has partnered with New York-based New Mountain Capital, a growth-oriented investment firm with over $20 billion in assets under management. Terms of the transaction were not disclosed. Founded in 1983, Classic is currently the […]

Filed Under: News Tagged With: Acquisitions, Classic Collision, Georgia, New Mountain Capital, Venture Capital

State Farm Launches $100 Million Venture Capital Initiative

September 14, 2018 By CollisionWeek Editor

State Farm, the largest insurer of cars and homes in the U.S., announced the launch of a $100 million venture capital initiative through its newly formed State Farm Ventures LLC. State Farm Ventures will focus on investing in startups developing technologies and products in order to fulfill customer needs in ways they wouldn’t think possible […]

Filed Under: News Tagged With: State Farm, Venture Capital

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