otonomo

Growth-Positive

Otonomo Announces Shareholder Approval of Business Combination with Urgently

Otonomo Technologies Ltd. has announced that its shareholders have approved a proposed business merger with Urgent.ly, Inc., a U.S.-based provider of digital roadside and mobility assistance technology and services. The merger is expected to be completed by the end of October 2023, with the combined company operating under the name Urgent.ly, Inc. and its common stock expected to be listed on The Nasdaq Stock Market LLC under the ticker symbol “ULY”. The merger is aimed at creating a new generation of mobility services.

Acquired-by

Aug 24, 2023 ·

growth-negative

Otonomo Reports Second Quarter 2023 Financial and Operational Results

Otonomo Technologies Ltd has announced its financial and operational results for Q2 2023, revealing a revenue of $1.6 million compared to $1.9 million for Q2 2022. The company also completed a cost reduction initiative, which included sunsetting part of its connected vehicle data services and reducing its workforce. Additionally, Otonomo commenced an exchange offer and consent solicitation relating to its outstanding warrants and effected a 1-for-15 reverse share split of its ordinary shares. The company added 4 new customers in Q2 2023.

LayoffsPublic Trading

Aug 23, 2023 ·

growth-positive

Otonomo Technologies Ltd. Announces Expiration and Results of Exchange Offer and Consent Solicitation Relating to its Warrants and Notice to Exercise Right to Exchange Remaining Outstanding Warrants

Otonomo Technologies Ltd. has announced the expiration and results of its exchange offer and consent solicitation for its outstanding public and private placement warrants. The company received valid tenders for approximately 63.7% of the outstanding public warrants and all of the outstanding private placement warrants. Otonomo expects to accept all validly tendered warrants for exchange and settlement. The company also executed a warrant amendment and will exchange all remaining untendered warrants for ordinary shares. The exchange is set to take place on September 7, 2023. Otonomos registration statement for the offer was declared effective by the SEC. Piper Sandler & Co. served as the sole Dealer Manager for the offer and consent solicitation.

Public Trading

Aug 21, 2023 ·

growth-negative

Otonomo Technologies Ltd. Announces Extension of Exchange Offer and Consent Solicitation Relating to Warrants

Otonomo Technologies has announced an extension of the expiration date for its exchange offer and consent solicitation relating to its outstanding warrants. The offer, which was previously scheduled to expire on August 21, 2023, will now expire on August 22, 2023. The company is offering holders of its warrants the opportunity to exchange them for ordinary shares. The offer includes up to an aggregate of 230,877 ordinary shares in exchange for the warrants. Piper Sandler & Co. is serving as the Dealer Manager for the offer and consent solicitation.

Public Trading

Feb 15, 2023 ·

Otonomo Announces Fourth Quarter and Full Year 2022 Financial Results

Feb 12, 2023 ·

en.globes.co.il

growth-negative

Urgent-ly buys Israeli co Otonomo at 94% below IPO valuation

US mobility and roadside assistance tech company Urgent.ly has acquired Israeli car data services platform company Otonomo. Otonomo listed on Nasdaq 18 months ago following a SPAC merger at a company valuation of $1.26 billion but has since lost 94% of its value. Otonomo will become a subsidiary of Urgent.ly, and Urgent.ly will list on Nasdaq after the merger. Otonomos current market cap is $70 million. Urgent.ly has raised $130 million in financing rounds from investors such as BMW, Jaguar, and Porsche. Otonomos revenue for the first nine months of 2022 was $4.9 million, with an operating loss of $41.6 million. The merger aims to provide new solutions for customer safety, security, and accessibility in the mobility industry.

AcquisitionPublic TradingManagement Changes

Feb 9, 2023 ·

Growth-Positive

Otonomo and Urgently to Combine to Create Leading Mobility Services Company

Otonomo Technologies Ltd. and Urgent.ly, Inc. have announced their intention to merge in an all-stock transaction. The merger has been approved by the board of directors of both companies and is expected to close in the third quarter of 2023. The combined company will focus on creating an end-to-end platform for a new generation of mobility services and experiences for automotive OEM, insurance, transportation, rental and fleet partners and their customers. Post-closing, Otonomo will be a wholly owned subsidiary of Urgently.

Acquired-byManagement Changes

Feb 2, 2023 ·

MICHELIN DDi Selects Otonomo to Advance Road Safety Solutions

Feb 1, 2023 ·

Otonomo to Announce Fourth Quarter and Full Year 2022 Financial Results on February 15

Jan 31, 2023 ·

Otonomo to Enhance Global Mapping Products and Services in Microsoft Maps

Jan 19, 2023 ·

Otonomo Selected by Iteris to Support Traffic Intelligence Solutions for Public Sector and Commercial Enterprise Markets

Jan 3, 2023 ·

Otonomo to Participate at the 25th Annual Needham Growth Conference

Dec 8, 2022 ·

growth-negative

Otonomo ousts almost 50% of its remaining workforce | CTech

Israeli autotech company Otonomo is laying off almost 50% of its remaining workforce. The company will be embarking on its second round of layoffs, including around 80 employees. The layoffs will affect a majority of the companys remaining 100 employees in Israel, including the team acquired from Neura. Otonomo raised $255 million in its SPAC merger but recorded revenues of only $2 million in the third quarter of the year.

Layoffs

Dec 7, 2022 ·

Otonomo Partners With Renault Group for Fleet Modernization

Dec 1, 2022 ·

Otonomo Delivers New Fleet Product Enhancements to Streamline User Experiences

Nov 16, 2022 ·

Otonomo Announces Third Quarter 2022 Results

Nov 16, 2022 ·

en.globes.co.il

growth-negative

Otonomo in talks to merge with UK auto-tech rival Wejo

Otonomo Technologies, an Israeli auto-tech company, is in talks with its UK rival Wejo Group about a possible merger. If completed, Otonomo would be valued at $150 million, significantly lower than its previous valuation of $1.26 billion. Both companies have lost most of their value since completing SPAC mergers last year. The merger would create a company with a stronger balance sheet and a larger market presence, addressing a market expected to be worth $61 billion in 2030. Otonomo reported revenue of $2 million in the third quarter of 2022, compared to $161,000 in the same quarter of 2021. However, its losses have widened. Wejo reported revenue of $2.1 million in the first half of 2022 and a loss of $95.7 million. The date of the article is November 16, 2022.

AcquisitionPublic Trading

Nov 15, 2022 ·

Otonomo Partners With Leading Global Consulting Firm to Improve Traffic Management and Road Safety

Nov 9, 2022 ·

Otonomo Selected by PREDIK Data-Driven to Power Competitive Intelligence Solutions

Oct 31, 2022 ·

Otonomo to Announce Third Quarter 2022 Financial Results on November 16

Oct 26, 2022 ·

Otonomo Wins Top Recognition from 2022 AutoTech Breakthrough Awards for “Fleet Management Innovation of the Year”

Oct 18, 2022 ·

growth-positive

Otonomo Strengthens Partnership With SAP by Integrating Its Smart Mobility Data Platform With SAP Digital Vehicle Hub

Otonomo Technologies Ltd. has announced the integration of its Smart Mobility Data Platform with SAP Digital Vehicle Hub. The integration will enable businesses to derive new insights for fleet management and maintenance based on connected vehicle data, drive future mobility business models, and generate new value and revenue streams. The Otonomo platform delivers clean, normalized, embedded vehicle data collected from multiple OEMs, and its integration with SAP Digital Vehicle Hub will further enable the utilization of connected vehicle data.

Partners

Sep 21, 2022 ·

Otonomo to Participate at UBS Future of Electric Mobility Virtual Conference

Sep 20, 2022 ·

The Floow Announces Next-Generation Connected Insurance Technology that Brings Together Smartphone and Connected Vehicle Data

Sep 13, 2022 ·

growth-positive

Otonomo Joins Salesforce in Dreamforce Panel Session on Powering New Revenue Streams Through Connected Vehicle Data

Otonomo Technologies Ltd., a platform powering the mobility economy, announced that its Chief Revenue Officer, Anders Truelsen, will participate in a panel discussion at Dreamforce 2022. The panel will discuss how to drive new auto revenue streams through connected vehicles. Otonomo has also unveiled new fleet mobility capabilities on the Salesforce AppExchange. The Otonomo App provides customers with new ways to unlock access to accurate mobility data for single vehicles as well as entire fleets using Salesforce Sales Cloud and Service Cloud.

Partners

Sep 12, 2022 ·

Otonomo CEO and Co-founder Ben Volkow to Discuss How Big Data Will be the Catalyst for the Mobility Economy at ITS World Congress in Los Angeles

Aug 31, 2022 ·

Otonomo to Present at Evercore ISI Technology Conference in NYC

Aug 28, 2022 ·

growth-negative

Otonomo to lay off dozens of employees after losing over 90% of value | CTech

Israeli autotech company Otonomo, which went public via a SPAC merger at a value of $1.26 billion, has seen its market cap plummet to $62 million. The company is expected to lay off dozens of employees and has received a non-compliance letter from Nasdaq regarding the possible delisting of its shares. Otonomos business results have been negative, with revenues and profitability far below forecasts. The company raised $255 million in its SPAC merger, but only $169 million remains in its account. Otonomo acquired two companies, Neura and Floow, for generous sums since the IPO, which contributed to its revenues. However, the acquisitions also led to a larger workforce. Otonomos largest shareholder is the Saudi investment fund MITACH. It is suggested that the company should return to private ownership and delay an IPO.

Layoffs

Aug 17, 2022 ·

growth-negative

Otonomo Reports Second Quarter 2022 Financial Results

Otonomo Technologies Ltd announced its Q2 2022 financial results, reporting a total revenue of $1.9 million, up from $0.3 million in Q2 2021. However, the company also reported a GAAP operating loss of $65.6 million, including an impairment charge of $45.8 million, compared to a loss of $5.6 million in Q2 2021. The company also completed the acquisition of The Floow, a SaaS provider of connected insurance technology. Despite the financial loss, the company added 13 new customers in Q2 2022 and saw its recurring revenue grow nearly 10X quarter over quarter.

InvestmentAcquisitionCustomers

Aug 16, 2022 ·

growth-positive

Geograma Selects Otonomo to Help Advance Road Safety in Spain

Otonomo Technologies has been awarded a multi-year contract by Geograma to provide connected vehicle data for road safety in Spain. Geograma will integrate the data into its traffic platform and develop new road safety applications. The data includes hazard events and road friction data, which will enhance Geogramas existing capabilities for historical analytics and real-time services. Otonomos Smart Mobility Data Platform provides a range of mobility data solutions that can be used to improve traffic flows, manage emissions, enhance road safety, and support infrastructure and transportation developments. The partnership with Geograma allows Otonomo to provide rich, multi-layered connected vehicle data that was previously unavailable to Geogramas customers.

Partners

Jul 26, 2022 ·

en.globes.co.il

growth-negative

Saudi investor becomes largest shareholder in Otonomo

Mithaq Capital has increased its stake in Otonomo Technologies to 20.4%. Otonomos share price has fallen 90% since its SPAC merger. Mithaq is now a party at interest in Otonomo and may increase or reduce its stake. Otonomos market cap is $93 million, lower than its cash reserves of $197 million. Mithaq Capital is also a major shareholder in Tremor International.

Investment

Apr 14, 2022 ·

growth-positive

Otonomo Completes Acquisition of The Floow

Otonomo Technologies has completed its acquisition of The Floow, a UK-based SaaS provider of connected insurance technology. The acquisition brings complementary solutions, customers, and markets to Otonomo. The Founder and CEO of The Floow, Aldo Monteforte, will join Otonomos management team. The combination of The Floows portfolio and Otonomos connected car platform strengthens their ability to offer intelligent and connected solutions in the global data mobility market.

Acquisition

Feb 28, 2022 ·

en.globes.co.il

growth-positive

Otonomo buys UK connected insurance co The Floow

Israeli vehicle data platform Otonomo has entered into a definitive agreement to acquire The Floow, a UK-based company, in a cash and stock deal worth $69 million. The acquisition will enable Otonomo to offer connected insurance solutions powered by a full spectrum of data sources. The Floow is a SaaS provider of connected insurance technology and its integration with Otonomos mobility intelligence platform will create safer, greener, and smarter driving experiences. The acquisition is subject to approval by UK regulators and is expected to close in the second quarter of 2022.

Acquisition

Nov 2, 2021 ·

www.calcalist.co.il

growth-positive

"אנחנו מוציאים תובנות ממידע שמגיע ממכוניות, כדי לשפר את המצב בכביש" כלכליסט

Otonomo, a data analysis company, aims to improve transportation and infrastructure by extracting insights from car data. The company receives various parameters related to road conditions, weather, and real-time accident detection from cars, and uses this data to enhance traffic conditions. Otonomo has partnerships with major car manufacturers such as Ford, Mercedes, and Toyota. The companys data platform is utilized by government agencies, private organizations, and commercial entities to improve mobility intelligence. Otonomo recently found a complementary company, Neura, in Herzliya, which helps process and share the collected data with various entities, including transportation authorities and energy companies like Shell and ENEL. Otonomos goal is to make car data accessible and useful for improving driving experiences and efficiency.

CustomersPartners

Oct 5, 2021 ·

en.globes.co.il

growth-positive

Smart car data co Otonomo buys behavior analytics co Neura

Israeli vehicle data connected car platform Otonomo Technologies has acquired behavior analytics and mobility intelligence company Neura. The financial details of the acquisition were not disclosed, but sources estimate that Otonomo is paying $50 million in cash and shares for a full equity stake in Neura. Otonomo plans to leverage Neuras advanced analytics and diverse data to expand its mobile intelligence platform. The acquisition reinforces Otonomos leadership in the mobility, transportation, and automotive data space. Otonomo aims to provide actionable insights for transportation planners, EV service providers, MaaS providers, fleets, and others. The companys share price rose 1.63% on Nasdaq following the announcement.

Acquisition

Aug 15, 2021 ·

en.globes.co.il

growth-positive

Auto-tech co Otonomo completes $1.26b SPAC merger

Israeli auto-tech company Otonomo has completed its SPAC merger with Software Acquisition Group Inc. II and will begin trading on Nasdaq as Otonomo Technologies Ltd. The merger was completed at a company valuation of $1.26 billion. Otonomo has raised $255.1 million, including investments from institutional investors and strategic investors. Otonomos data platform is linked to 40 million connected cars and is used for emergency services, mapping, parking, and predictive maintenance. The companys partners include BMW, Daimler, Mitsubishi Motors, and Mercedes-Benz. Otonomo aims to leverage its public trading status to enhance relations with clients and continue positively impacting the driving experience.

Public TradingInvestment

Mar 17, 2021 ·

growth-positive

Otonomo, Henshin and wefox Collaborate to Empower Fleet Insurance Innovations

Otonomo Technologies has formed a strategic relationship with Henshin Group and wefox to generate vehicle data sets for insurance, rental, and leasing services. Otonomos mobility intelligence platform, combined with MOVENS technology and wefoxs Mobility HUB platform, will create new business use cases and enable the development of new fleet vehicle insurance scenarios. The collaboration aims to overcome challenges in telematics-based insurance programs and provide real-time datasets for tailored insurance offers. The partnership will help wefox become the hub of insurance services in Smart Cities. Otonomo and MOVENS are part of the Veos Group, while wefox is Europes largest digital insurer.

Partners

Mar 12, 2021 ·

growth-positive

Software Acquisition Group Inc. II Announces Filing of Registration Statement on Form F-4 by Otonomo Technologies Ltd. in Connection With Its Proposed Business Combination with Otonomo

Software Acquisition Group Inc II has announced a proposed business combination with Otonomo Technologies Ltd. Otonomo has filed a registration statement with the SEC in connection with the business combination. Institutional investors, including Fidelity Management & Research Company LLC and BNP Paribas Asset Management Energy Transition Fund, have committed to a primary and secondary private investment of $172.5 million in ordinary shares of Otonomo. The transaction is expected to result in over $307 million in cash. The completion of the transaction is subject to approval by Software Acquisition Group stockholders and other customary closing conditions. The business combination is expected to be completed in the second quarter of 2021.

AcquisitionInvestmentPublic Trading

Feb 1, 2021 ·

en.globes.co.il

growth-positive

Otonomo merges with Nasdaq-listed SPAC at $1.4b valuation

Israeli auto-tech company Otonomo is merging with Software Acquisition Group Inc. II and will trade on Nasdaq under the OTMO ticker. The deal values Otonomo at $1.4 billion and will be completed in Q2 2021, with a net injection of $280 million into the company. The gross amount being raised by Otonomo is $345 million, half of which is coming from Software Acquisition Group and the other half from a share offering led by institutional and strategic investors. Otonomos employees will also sell shares worth $30 million and will hold a 72% stake in the company post-deal.

Acquired-byInvestmentPublic Trading

Jan 30, 2021 ·

www.bloombergquint.com

growth-positive

Israeli Startup Otonomo Nearing Merger With Software SPAC

Israeli startup Otonomo is in talks to go public through a merger with Software Acquisition Group Inc. II. The SPAC is in talks to raise new equity to support the transaction. Otonomo operates a data platform linked to millions of connected cars and takes over 4 billion data points per day. The companys partners include BMW, Daimler, Mitsubishi Motors, and Mercedes-Benz. Otonomo was valued at about $465 million after its last funding round. Software Acquisition Group raised $172.5 million in an IPO and focuses on software companies.

Public TradingInvestmentAcquisition

Jun 9, 2020 ·

growth-positive

Israel-based Otonomo signs data-sharing collaboration with Fiat Chrysler

Otonomo Technologies has signed a commercial agreement with Fiat Chrysler Automobiles (FCA) to increase the use of vehicle data. The agreement is estimated to be worth tens of millions of dollars. Otonomo already has contracts with various car companies and positions itself as a global leader in vehicle information processing. Under the agreement, Otonomo will receive de-identified, aggregated data from FCA connected vehicles in Europe to deliver new use cases. Otonomo has raised a total of $82 million in funding, including a $46 million series C round participated in by SK Holdings, Avis Budget Group, Alliance Ventures, and Bessemer Venture Partners.

PartnersInvestment

Apr 30, 2020 ·

growth-positive

Otonomo Raises $46M in Series C Funding to Expand Its Automotive Data Services Platform

Otonomo, the automotive data services platform, has announced $46 million in series C funding. The funding round includes investments from SK Holdings, Avis Budget Group, and Alliance Ventures, bringing the companys total funding raised to $82 million. Otonomo plans to use the funds to scale its R&D, build customer support resources, and expand globally. The company is currently onboarding seven new OEMs and ingesting over 2.6 billion data points a day. Otonomos platform securely ingests automotive OEM data and reshapes it for various applications and services. The company has partnerships with over 25 automotive OEMs, including Daimler, BMW, and Mitsubishi Motor Company. The funding will enable Otonomo to further innovate its products and solidify its leadership position in the market.

InvestmentExpand

Apr 14, 2020 ·

growth-positive

Otonomo Expands Its Ecosystem for Connected Car Data Utilization

Otonomo is expanding its platform to increase the utilization of crowd data from BMW and MINI connected vehicles. The company aims to reduce city congestion and improve the driving experience through innovative use cases. The Otonomo Automotive Data Services Platform reshapes and enriches the data to make it more valuable for application and service providers. Use cases include parking availability, urban planning, real-time intelligence, hazard warning services, mapping services, and municipal maintenance. The expansion of the ecosystem with crowd data from BMW and MINI vehicles is seen as a positive growth for Otonomo.

PartnersCustomers

Jan 7, 2020 ·

growth-positive

Mitsubishi Enters Commercial Agreement With Car Data Broker Otonomo

Otonomo Technologies has entered a commercial agreement with Mitsubishi Motors to integrate its data collection and distribution technology into Mitsubishi vehicles. This will allow smart cars to share data with third-party services and application providers. Otonomo acts as a middleman between carmakers and third-party companies, monetizing the data collected by smart cars. The financial terms of the agreement were not disclosed.

Partners

Aug 13, 2019 ·

otonomo.io

growth-positive

Otonomo Reaches the 18 Million Car Mark

Otonomo, an Automotive Data Services Platform, has announced that it now offers car data attributes from 18 million cars globally. The data is aggregated from multiple OEMs, TSPs, and Fleets and is used by app and service providers for a variety of use cases. The company recently announced a partnership focused on smart city, mapping, parking, and traffic planning. Otonomos vision is to make car data valuable for drivers and the public, aiming to create smarter cities and happier drivers.

PartnersExpand

Jul 31, 2019 ·

www.autofutures.tv

growth-positive

Avis Partners with Start-up Otonomo to Explore "Data for Good" Opportunities - Auto Futures

Avis Budget Group has partnered with Otonomo, an Israeli data services start-up, to gain new insights from its connected cars and improve customer satisfaction. The partnership will help Avis reduce costs and securely engage with new partners. The collaboration aims to shape the future of mobility and explore opportunities for smart cities, predictive maintenance, streamlined rental car returns, and more efficient driving.

Partners

Jun 2, 2019 ·

www.autonews.com

growth-positive

Chasing the data storm

The article discusses the growing trend of data sharing in connected cars and its potential benefits and challenges. Companies like Amazon, Otonomo, Daimler, GM, Volvo, MDGo, and Waycare are leveraging vehicle data to offer new services, enhance customer experience, and improve road safety. However, the success of these initiatives depends on customers willingness to share their data. While there are concerns about privacy, a survey by Otonomo found that 77% of car owners trust automakers with their data. The global market for sales of data from connected cars is expected to surpass $1 billion by 2023.

CustomersPartnersInvestment

Jan 10, 2019 ·

growth-positive

Daimler to Integrate Otonomo's Data Collection Technology in Mercedes-Benz Connected Cars

Daimler AG has partnered with Otonomo Technologies Ltd. to integrate data gathering technology into Mercedes-Benz connected cars, offering users customized services such as usage-based insurance policies and on-demand fueling or charging. Otonomo has raised a total of $43 million in equity funding, with investors including NTT Docomo Ventures Inc., Delphi Automotive PLC, Hearst Ventures, and Dell Technologies Capital.

Partners

Oct 30, 2018 ·

growth-positive

Otonomo Announces the Anonymization Engine

Otonomo has announced the launch of its Anonymization Engine, a service designed to protect driver data while simplifying anonymous automotive data integration for app developers and service providers. The engine allows OEMs to maintain driver privacy and comply with regulations such as GDPR, while app and service providers gain access to valuable, anonymized data for various use cases. The Anonymization Engine utilizes sophisticated techniques to provide robust data privacy safeguards while preserving the commercial value of the data. Otonomo aims to redefine how automotive data creates value for drivers and the mobility community. The engine is available as an embedded service within the Otonomo Automotive Data Services Platform or as an on-premise managed service for OEMs.

Customers

Jul 4, 2018 ·

www.iot-now.com

growth-positive

Bright Box partners with Otonomo to deliver connected car applications and services for truly rewarding driving experiences IoT Now News & Reports

Bright Box, a global vendor of solutions and platforms for the connected car industry, has signed a partnership agreement with Otonomo, a U.S.-Israeli automotive data services platform company. The partnership will provide opportunities to connect millions of vehicles to innovative services and applications. As part of the collaboration, Bright Boxs AI-first Connected Car Platform, Remoto, will connect to Otonomos data services platform to offer services such as emergency services, parking location, predictive maintenance, and insurance services. A recent consumer study revealed that 95% of consumers who own connected cars are interested in these services. Bright Box has accumulated a strong data set from its connected car units, which will be utilized on the Otonomo platform. The partnership aims to deliver value to drivers and expand Otonomos automotive data services platform.

Partners

May 22, 2018 ·

www.businesswire.com

Otonomo Announces The Consent Management Hub

Apr 20, 2018 ·

www.gartner.com

growth-positive

Cool Vendors in Automotive and Smart Transportation

The article discusses the automotive sector and highlights startups that are pushing the edge of artificial intelligence, IoT, and data monetization. It suggests that CIOs in the automotive and smart mobility industry should look to acquire or partner with these companies. The article is a part of Gartner Research, which provides trusted insights for executives and their teams. It emphasizes Gartners independence, objectivity, and actionable insights. The article does not mention any specific company or event.

Feb 20, 2018 ·