Fairmatic applies AI models trained on over 200 billion miles of driving data to analyze and price the risk of commercial vehicle fleets. Its platform includes a mobile app that monitors driving events, identifies actionable safety improvements, automatically detects crashes and provides a fully digital mobile claims experience. The company targets small, medium and large enterprise fleets and says it has onboarded hundreds of thousands of drivers. Fairmatic was founded by Jonathan Matus (previously founder of Zendrive) and maintains about 85 employees across offices in the U.S., Israel and India. The firm faces industry concerns about AI bias and regulatory scrutiny, with the article citing warnings from the Casualty Actuarial Society and the California Department of Insurance and noting state-level actions on algorithm use. Near-term plans include expanding R&D hubs in Israel and Bangalore and hiring about 30 employees in Israel to accelerate its AI-powered insurance platform. Fairmatic is a commercial auto insurtech delivering data-driven fleet insurance that rewards safety with savings. The company’s core product leverages AI-powered technology combined with troves of telematics data to underwrite fleet risk and provide actionable safety insights. Its underwriting model has been trained and tested on over 200 billion miles of driving data. Leadership includes CEO Jonathan Matus, President of Insurance Jamie Trish, former Progressive Chief Actuary Ed Ford, and Brian Specht. Fairmatic operates from New York, Bangalore and Tel Aviv. The company recently raised $42M in a Series A to accelerate growth and expand operations.

Total raised

$88M

Funding rounds

2

Latest round

Series B

Latest activity

Mar 2023