State Farm Ventures

State Farm Ventures is the corporate venture capital arm of State Farm Life Insurance Company, located in Bloomington, Illinois. The firm focuses on investing in innovative companies that aim to disrupt traditional business models and enhance the safety and smart living of individuals. Its investment interests span various sectors, including insurtech, fintech, telematics, mobility and safety, home safety and services, drones, senior living, artificial intelligence, virtual reality, augmented reality, blockchain, and real estate technology. Through these investments, State Farm Ventures seeks to foster advancements that align with its mission of helping individuals lead safer and more efficient lives.

Past deals in Self-driving

May Mobility

Series D in 2023
May Mobility, Inc. is an autonomous vehicle company based in Ann Arbor, Michigan, founded in 2017. The company specializes in developing and deploying autonomous vehicle technology to enhance public transportation systems. May Mobility operates a fleet of six-passenger electric shuttles that navigate through traffic using mapped and closed-loop routes. By analyzing city traffic and commuter patterns, the company identifies bottlenecks and optimizes transit routes for various communities. Its services aim to reduce human error in driving, lower pollution levels, and provide economic benefits to both communities and riders. Through its innovative approach, May Mobility seeks to create a safer, greener, and more efficient transportation environment.

PreAct Technologies

Series B in 2023
PreAct Technologies develops pre-collision safety technology for vehicles, focusing on advanced driver-assistance systems and autonomous vehicle sensors and infrastructure to predict and prepare for an imminent crash. Founded in 2018 and based in Portland, Oregon, the company aims to bridge the gap between collision avoidance and active safety by applying a patent-pending suite of sensor technologies, computing systems, and countermeasure algorithms to reduce fatalities and injuries in crashes. The approach uses existing vehicle architecture to monitor conditions and communicate imminent risk to drivers and occupants, enabling timely responses. The company's engineering teams specialize in computer vision, optics, and parallel processing, and its origins trace to DARPA-funded research in high-speed optics and computing. PreAct Technologies targets automakers and suppliers seeking to enhance safety performance through proactive sensing and response.

Car IQ

Series B in 2023
Car IQ Inc. is a technology company that develops and operates a cloud-based vehicle management platform and payment gateway, primarily serving auto dealer groups, car sharing clients, and autonomous drivers. Founded in 2016 and based in San Francisco, California, Car IQ's innovative payment solution allows vehicles to initiate payments directly without the need for credit cards. By leveraging telematics and vehicle data, the platform connects vehicles to service and repair providers, streamlining transactions and enhancing security. It provides detailed vehicle insights for fleet management, enabling clients to monitor transactions and reduce the risk of fraud. Additionally, Car IQ consolidates all transactions into a single ledger, simplifying reconciliation and allowing fleets to manage their expenses more effectively.

PreAct Technologies

Series B in 2023
PreAct Technologies develops pre-collision safety technology for vehicles, focusing on advanced driver-assistance systems and autonomous vehicle sensors and infrastructure to predict and prepare for an imminent crash. Founded in 2018 and based in Portland, Oregon, the company aims to bridge the gap between collision avoidance and active safety by applying a patent-pending suite of sensor technologies, computing systems, and countermeasure algorithms to reduce fatalities and injuries in crashes. The approach uses existing vehicle architecture to monitor conditions and communicate imminent risk to drivers and occupants, enabling timely responses. The company's engineering teams specialize in computer vision, optics, and parallel processing, and its origins trace to DARPA-funded research in high-speed optics and computing. PreAct Technologies targets automakers and suppliers seeking to enhance safety performance through proactive sensing and response.

May Mobility

Series C in 2022
May Mobility, Inc. is an autonomous vehicle company based in Ann Arbor, Michigan, founded in 2017. The company specializes in developing and deploying autonomous vehicle technology to enhance public transportation systems. May Mobility operates a fleet of six-passenger electric shuttles that navigate through traffic using mapped and closed-loop routes. By analyzing city traffic and commuter patterns, the company identifies bottlenecks and optimizes transit routes for various communities. Its services aim to reduce human error in driving, lower pollution levels, and provide economic benefits to both communities and riders. Through its innovative approach, May Mobility seeks to create a safer, greener, and more efficient transportation environment.

PreAct Technologies

Series A in 2021
PreAct Technologies develops pre-collision safety technology for vehicles, focusing on advanced driver-assistance systems and autonomous vehicle sensors and infrastructure to predict and prepare for an imminent crash. Founded in 2018 and based in Portland, Oregon, the company aims to bridge the gap between collision avoidance and active safety by applying a patent-pending suite of sensor technologies, computing systems, and countermeasure algorithms to reduce fatalities and injuries in crashes. The approach uses existing vehicle architecture to monitor conditions and communicate imminent risk to drivers and occupants, enabling timely responses. The company's engineering teams specialize in computer vision, optics, and parallel processing, and its origins trace to DARPA-funded research in high-speed optics and computing. PreAct Technologies targets automakers and suppliers seeking to enhance safety performance through proactive sensing and response.

Car IQ

Series B in 2021
Car IQ Inc. is a technology company that develops and operates a cloud-based vehicle management platform and payment gateway, primarily serving auto dealer groups, car sharing clients, and autonomous drivers. Founded in 2016 and based in San Francisco, California, Car IQ's innovative payment solution allows vehicles to initiate payments directly without the need for credit cards. By leveraging telematics and vehicle data, the platform connects vehicles to service and repair providers, streamlining transactions and enhancing security. It provides detailed vehicle insights for fleet management, enabling clients to monitor transactions and reduce the risk of fraud. Additionally, Car IQ consolidates all transactions into a single ledger, simplifying reconciliation and allowing fleets to manage their expenses more effectively.
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