Partnership to Expand Global Road Safety Platform and Real-Time AI Risk Models
Accompanied by New Long-Term Commercial Agreements Between Allianz and CMT

Cambridge Mobile Telematics (CMT), the world’s largest telematics and AI company for safer mobility, today announced a USD 350 million strategic investment led by TPG and Allianz X, with participation from State Farm. The new investors will accelerate CMT’s expansion in three key areas: scaling its global road safety platform, advancing AI models for real-time driving risk assessment and crash detection, and growing adoption of the new Universal Driving Score.

The strategic investment is accompanied by long-term commercial agreements with various Allianz Group operating entities, including Allianz Partners and Allianz Versicherungs-AG, to collaborate on data-driven insurance and service offerings across Europe for retail customers, automotive original equipment manufacturers (OEMs), and mobility partners. The partnership with CMT will enhance Allianz’s strategic capabilities, foster innovation, and promote safer mobility by combining telematics solutions with Allianz's global expertise as a leading motor insurer and assistance services provider.

TPG is making its investment through The Rise Funds, the multi-sector strategy of its global impact investing platform, and Allianz, a leading global insurer, is investing via Allianz X, its strategic investment arm. TPG’s deep expertise in technology and AI investing, combined with Allianz’s 136-year legacy in protection, will support CMT’s next phase of growth and expansion. State Farm, whose Drive Safe & Save program is one of America’s most widely used telematics platforms, sees CMT’s real-time risk platform as a natural extension of its broader strategy of applying AI and data to improve outcomes for the customers and communities it serves.

“CMT demonstrates the power and potential of impact-driven technology,” said Akash Pradhan, Business Unit Partner for The Rise Funds. “With the company’s data and DriveWell Atlas AI models, we are empowering drivers to make safer decisions, while also helping to make auto insurance more affordable. We are excited to partner with CMT, Allianz, and State Farm to expand the company’s leadership position in AI-driven telematics.”

“At Allianz X, we don't just invest; we build the capabilities and partnerships that shape the future of insurance and mobility. By combining CMT’s telematics solutions with Allianz’s global reach, we shift from reacting to risks to preventing them,” said Dr. Nazim Cetin, CEO of Allianz X. “This deal exemplifies how we use strategic foresight to enhance Allianz through innovation, improving customer experience and promoting safer mobility for all.”

“We are working closely with OEMs and automotive partners globally to drive forward the future of mobility,” said Tomas Kunzmann, CEO of Allianz Partners. “CMT's technology enables us to provide even more tailored and data-driven insurance and assistance services to our partners and customers, ensuring peace of mind along the whole customer journey.”

Telematics technology has become a transformative force in the insurance industry, offering unprecedented insights into driving behavior, crash detection, and vehicle usage. By leveraging driving data from vehicles, phones, and IoT devices—with driver consent—insurers like Allianz and State Farm can better identify and positively influence risk, personalize insurance policies, and promote safer, more sustainable driving habits.

“Our partnership with CMT allows us to use technology to prevent accidents and improve our motor insurance products, but most importantly, it enables us to provide our customers and their families with even better protection,” said Frank Sommerfeld, CEO of Allianz Versicherungs-AG.

“For State Farm, the investment reflects its commitment to leveraging technology to better serve the more than 90 million policies it holds across the U.S., including through more accurate risk assessment that benefits customers directly,” said Sara Frankowiak, State Farm Vice President & Actuary. “CMT’s platform moves us closer to a world where crash prevention is possible for every driver. As a mutual company with a history of helping people protect what matters most, safer drivers mean better outcomes for everyone — and lower cost of coverage for our customers.”

CMT’s award-winning platform—trusted by tens of millions of drivers, top insurers, automakers, commercial mobility companies, and the public sector—combines advanced telematics and data solutions with AI to shift the industry from reactive to proactive road safety measures. It has prevented over 100,000 crashes, protected 55 million drivers in 25 countries, and helped engage people in safer and more sustainable driving behaviors through 140 programs worldwide.

“Today’s investment strengthens our work to create safer roads, stronger communities, and a better future, and we’re energized by our partnerships with TPG, Allianz, and State Farm,” said William V. Powers, Co-Founder and CEO of CMT. “Every crash we prevent, every life we protect, and every driver we help improve brings us closer to solving one of the world’s biggest challenges. We’re applying the full power of AI to transform mobility on a global scale to help save lives, reduce costs, and support more sustainable transportation.”

Citigroup served as sole placement agent to CMT in relation to the transaction. Moelis & Company LLC served as financial advisor to TPG.

About Cambridge Mobile Telematics
Cambridge Mobile Telematics (CMT) is the world’s largest telematics and AI company for safer mobility. Its mission is to make the world’s roads and drivers safer. The company’s AI-driven platform, DriveWell Fusion®, proactively identifies and reduces driving risk, leading to fewer crashes and injuries, making mobility safer. CMT’s technology has helped prevent over 100,000 crashes worldwide. CMT partners with insurers, automakers, commercial mobility companies, and the public sector to measure risk, detect crashes, provide life-saving assistance, and streamline claims. Headquartered in Cambridge, MA, CMT operates globally with offices in Budapest, Hungary; Chennai, India; Seattle, Washington; Tokyo, Japan; and Zagreb, Croatia. Learn more at www.cmt.ai.

About The Rise Funds
The Rise Funds are a core pillar of TPG's global impact investing platform. Founded in 2016 by TPG in partnership with Bono and Jeff Skoll, The Rise Funds invest behind impact entrepreneurs and growth-stage, high potential, mission-driven companies that are focused on building and scaling solutions to the world’s most complex challenges. The Rise Funds deliver capabilities and expertise across a wide variety of sectors and countries at scale, focusing on opportunities in climate and decarbonization, education, financial inclusion, healthcare, and impact technology.

TPG’s Impact Platform is the world’s largest of its kind, managing approximately $31 billion in assets across a family of funds that pursue non-concessionary returns and social and environmental impact at scale through growth equity, private equity, and infrastructure investing strategies.

For more information, visit https://www.tpg.com/platforms/impact/the-rise-funds.

About Allianz X
Allianz X is the strategic investment arm of the Allianz Group, dedicated to keeping the leading global insurer and asset manager at the forefront of the industry. By making and actively managing high-conviction investments in companies with exceptional growth potential and forging unique partnerships between them and Allianz, Allianz X enables transformative collaborations, builds platforms, and unlocks value for the Group.

Stay connected with Allianz X on Medium, LinkedIn, and X (formerly Twitter).

About Allianz Partners
Allianz Partners is a world leader in B2B2C insurance and assistance, offering global solutions that span international health and life, travel insurance, mobility and assistance. Customer driven, our innovative experts are redefining insurance services by delivering future-ready, high-tech high-touch products and solutions that go beyond traditional insurance. Our products are embedded seamlessly into our partners’ businesses, sold through intermediary channels or directly to customers through the Allianz brand. Present in over 75 countries, our 21,900 employees speak 70 languages, handle over 72.5 million cases each year, and are motivated to go the extra mile to offer peace of mind to our customers around the world.

About Allianz
The Allianz Group is one of the world’s leading insurers and asset managers with around 97 million customers* in nearly 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 764 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 2.0 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2025, over 156,000 employees achieved total business volume of 186.9 billion euros and an operating profit of 17.4 billion euros for the Group.

* Customer count reflects Allianz customers in consolidated entities that are part of the customer reporting scope only.

** As of December 31, 2025.

About State Farm:
For over 100 years, the mission of State Farm has been to help people manage the risks of everyday life, recover from the unexpected and realize their dreams. State Farm Mutual and its affiliates are the largest providers of auto and home insurance combined in the United States. Its more than 19,200 agent offices and 65,000 employees serve over 96 million policies and accounts – including auto, fire, life, health, commercial policies and financial services accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is also available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 36 on the 2025 Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260324671486/en/

For media inquiries, please contact:

Cambridge Mobile Telematics
Erica Camilo, erica@connexacommunications.com, +1 610 639 5644

TPG
Ari Cohen, media@tpg.com, +1 415 743 1550

Allianz X
Gregor Wills, gregor.wills@allianz.com, +49 89 3800 61313

Allianz Partners
Alexandra Rudhart, alexandra.rudhart@allianz.com, +49 151 4620 3818

Allianz Versicherungs-AG
Christian Weishuber, christian.weishuber@allianz.de, +49 89 3800 18169

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