Motorq, a San Francisco, CA-based connected car API company, announced that it raised $40 million in a Series B to support the continued growth of our company and continued innovation of our connected vehicle data platform.

The round was led by Insight Partners, with participation from existing investors Story Ventures, FM Capital, Monta Vista Capital, and Avanta Ventures.

Motorq going to use the proceeds to grow product development and engineering efforts. Increase collaboration with the auto OEMs, establish a business in Europe and Japan and enhance the core Motorq platform for new markets, including insurance, auto rental, and dealer services. 

Company: Motorq, Inc.

Raised: $40.0M

Round: Series B

Funding Month: February 2022

Lead Investors: Insight Partners

Additional Investors: Story Ventures, FM Capital, Monta Vista Capital, and Avanta Ventures

Company Website: https://motorq.com/

Software Category: Connected car data analytics solutions

About the Company:  Motorq is an analytics software platform company that was created for the sole purpose of realizing the potential of connected-car data. The possibilities are virtually endless. Motorq is a leading SaaS provider of connected car data analytics solutions to enterprises and automotive OEMs. Motorq is committed to leveraging this data to help businesses, like you, unlock the power of raw data by deciphering and creating actionable insights from a variety of disparate connected-car systems. Motorq’s machine learning and AI capabilities make sense of terabytes of otherwise unintelligible data streams, enabling customers to make better decisions. Motorq has partnered with seven of the ten largest vehicle manufacturers to securely access vehicle data for its customers, including many of the top 300 fleets and top 20 global fleet management companies.. Headquartered in the San Francisco Bay Area.

Source: https://motorq.com/blog/announcing-motorqs-40-million-series-b-funding-round/