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Liberty Mutual Strategic Ventures company logo
Corporate Venture
FINANCE | Investment Firms & Funds
lmstrategicventures.com

Investments

32

Portfolio Exits

2

Funds

1

About Liberty Mutual Strategic Ventures

Liberty Mutual Strategic Ventures is the corporate venture capital arm for Liberty Mutual. It invests in early-stage software, platform, and services companies including mobility, propert technology, financial technology, and insurance technology companies. It was founded in 2016 and is based in Boston, Massachusetts.

Headquarters Location

175 Berkeley Street

Boston, Massachusetts, 02116,

United States

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Expert Collections containing Liberty Mutual Strategic Ventures

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find Liberty Mutual Strategic Ventures in 2 Expert Collections, including Fortune 500 Investor list.

F

Fortune 500 Investor list

590 items

This is a collection of investors named in the 2019 Fortune 500 list of companies. All CB Insights profiles for active investment arms of a Fortune 500 company are included.

I

Insurtech

26 items

2020 Top 25 US P&C Insurers based on Gross Written Premiums in 2019, per NAIC

Latest Liberty Mutual Strategic Ventures News

Driver Technologies: AI-based Mobility Company Secures $6 Million

Jun 15, 2023

Driver Technologies – an AI-based mobility tech company that delivers a safer and smarter driving experience – announced recently the closing of a $6 million strategic funding round led by IA Capital and CT Innovations (the venture capital arm of the State of Connecticut). And major insurers also participated in the round including, Liberty Mutual Strategic Ventures, State Auto Labs/Rev 1, and investors from The Social Entrepreneurs’ Fund, ID8 Investments, C2 Ventures, and Kapor Capital. Through the closing of this round, Driver Technologies has now raised more than $16 million. This latest round of investment will help fuel the continued adoption of Driver – which is the company’s top-rated AI-powered dash cam and safety alert app – into insurance-backed programs for commercial and personal drivers. The funding will also be used to pursue direct integrations with insurance, automotive and municipal partners working to enhance road safety. Over the last 6 months, Driver has launched 2 subscription plans: Driver Professional for enterprise fleets and Driver Family for households. And the company has also launched Driver Cooler, a cooling dash cam phone mount designed to encourage hands-free phone usage in the car. Plus Driver has recently formed multiple new partnerships, including an integration as the only software-first solution on the Geotab Fleet Management Platform. The company has also entered the OEM market with TomTom and is protecting the car rental and sharing economy industry with Getaround. Driver has recently analyzed the driving patterns of 17,000 drivers using the Driver platform. And drivers were 11 times less likely to speed, 4 times less likely to run stop signs, 3 times less likely to tailgate, and 3 times less likely to brake hard. The results additionally demonstrated that the longer a driver uses the platform, the safer they get in driving habits. KEY QUOTES: “Our mission each day is to create a solution that helps democratize road safety for drivers as well as for everyone on our roads and streets. This funding will allow us to reach more drivers, reduce preventable accidents and limit distracted and drowsy driving, all while delivering privacy-focused, safe-driving savings to drivers, fleet owners and insurers. We also intend to expand our Professional Driver solution into international markets.” — Rashid Galadanci, CEO and co-founder of Driver Technologies “We’re incredibly proud of the progress Driver Technologies has made in gaining the product and security approval needed to be the video and telematics provider for multiple leading insurers, up-and-coming carriers, and commercial fleet platforms. We are excited to help them scale to the next stage.” — Matt Perlman, Partner at IA Capital Group. “Driver Technologies has made great strides in using artificial intelligence in new and innovative ways in its mission to increase driver safety and help drivers save money. With its impressive and robust product roadmap, the company continues to engage a variety of industry players including insurance carriers, commercial and municipal fleets, built-in OEM integrations, and autonomous vehicle manufacturers. We’re excited to support Driver Technologies’ continued growth.” — Douglas Roth, Managing Director of Investments at Connecticut Innovations (CI), the State of Connecticut’s venture capital arm and leading source of financing and ongoing support for innovative, growing companies Trending on Pulse 2.0

Liberty Mutual Strategic Ventures Investments

32 Investments

Liberty Mutual Strategic Ventures has made 32 investments. Their latest investment was in Driver Technologies as part of their Unattributed VC on June 6, 2023.

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Liberty Mutual Strategic Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/8/2023

Unattributed VC

Driver Technologies

$6M

No

1

5/31/2023

Series B

Hyro

$20M

Yes

6

11/1/2022

Series A

Roots Automation

$10M

Yes

6

8/30/2022

Series A

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$99M

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10

1/12/2022

Series A

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$99M

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10

Date

6/8/2023

5/31/2023

11/1/2022

8/30/2022

1/12/2022

Round

Unattributed VC

Series B

Series A

Series A

Series A

Company

Driver Technologies

Hyro

Roots Automation

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Amount

$6M

$20M

$10M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

1

6

6

10

10

Liberty Mutual Strategic Ventures Portfolio Exits

2 Portfolio Exits

Liberty Mutual Strategic Ventures has 2 portfolio exits. Their latest portfolio exit was Notion on December 21, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/21/2022

Merger

$99M

3

10/19/2017

Acquired

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$99M

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10

Date

12/21/2022

10/19/2017

Exit

Merger

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

3

10

Liberty Mutual Strategic Ventures Fund History

1 Fund History

Liberty Mutual Strategic Ventures has 1 fund, including LMSV Fund I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

5/19/2016

LMSV Fund I

Early-Stage Venture Capital

Closed

$150M

1

Closing Date

5/19/2016

Fund

LMSV Fund I

Fund Type

Early-Stage Venture Capital

Status

Closed

Amount

$150M

Sources

1

Liberty Mutual Strategic Ventures Team

2 Team Members

Liberty Mutual Strategic Ventures has 2 team members, including current Managing Director, Russ MacTough.

Name

Work History

Title

Status

Russ MacTough

Managing Director

Current

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Name

Russ MacTough

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Work History

Title

Managing Director

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Status

Current

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