Exclusive: Cambridge Mobile Telematics secures $350 million from TPG, Allianz to make driving safer

Cambridge Mobile Telematics has quietly become one of the most important companies you’ve never heard of in the race to make driving safer—and now some of the world’s biggest insurers are doubling down on it. The Cambridge, Mass.–based company has secured a $350 million strategic investment led by TPG’s Rise Funds and Allianz X, Fortune exclusively learned, with existing backer State Farm also participating in the all-secondary deal.

CMT builds AI-powered telematics software that turns everyday devices—smartphones...