Wejo

Wejo develops smartphone telematics applications that utilise in-built car sensors to monitor driving behaviour and display driving scores based on factors such as cornering, braking, acceleration, speed, location, and time of day. By blending simple access to connected car data with voice-based driver services, Wejo aim to improve on the driver experience and increase safety.

Wejo collects big data on millions of vehicles and drivers, which is then licensed to mobility organisations, such as city planners , insurers and governments. It offers numerous insights, including location data 95% accurate to a 3-metre radius, real-time journey and traffic information, and current and historical information about driving behaviours. At peak, it collects around 650k data points per second.

The startup is currently tracking 15m vehicles in 190 countries and has already curated over 78b miles.

In August 2020, Wejo raised £10m in a new funding round - investors included DIP Capital and the UK government's Future Fund. The fresh investment will be used to bring new products to market, plus create partnerships with auto companies to enable expansion.

In May 2021 Wejo announced its intentions to list publicly in the US via a reverse merger with Virtuoso Acquisition Corp. When Wejo went public, the company was valued at $800M.

In June 2022 Ford announced it would be working with mobility data company Wejo. As part of the agreement, Wejo will gain access to personalised connected vehicle data from Ford vehicles (if drivers have consented), which can then be shared with insurance companies to help detect fraud, understand behaviour on the road, and more, to not only help create more tailored underwriting, but a better claims experience too.

In August 2022 Wejo raised $15.7M in Private Investment in Public Equity (PIPE). The news comes only three months after the company secured a $89.61M in committed equity financing. The company plans to use this to extend its capital runaway through late 2023, having already undertaken cost-saving initiatives due to the current difficult market conditions.

Wejo was established in January 2014, and has hired over 150 staff with its headquarters in Manchester, UK.