Participated · Series B · Mar 2020

Five (formerly FiveAI) developed sensor-equipped test vehicles and a suite of testing and measurement tools for autonomous driving. The company has pivoted from designing and operating its own fleet to a B2B model, licensing software to carmakers and the wider autonomous-service ecosystem. Its tools focus on assessing perception accuracy and diagnosing errors that propagate from perception into planning. Five has been a partner on the London government-backed StreetWise project and says insurers and others can use its testing output to determine risk and pricing. Co-founder and CEO Stan Boland remains at the helm, and Direct Line’s Gus Park is joining Five’s board. Five has raised $77 million to date and announced a $41 million Series B; the company said its valuation is up on its last round but did not disclose details.

Led · Equity · Oct 2017

Founded in 2016 and based in London, Canopy offers a smartphone app that provides renters an instant digital rental profile called RentPassport™, which replaces large cash security deposits with an insurance policy backed by HISCOX. Through a partnership with Experian, users can enhance their credit history by paying their rent directly through the mobile app. The company has strategic partnerships with property firms including Hamptons International, GetLiving, Atlas Residential and Tipi (Quintain). Canopy received a further investment from Round Hill Capital; the amount was not disclosed. That investment followed a recent £1.6m second round of funding that included £1.3m from Direct Line Group and backing from Experian. The company said it will use the funds to invest in further UK expansion, including new and extended services. Canopy, founded in 2016 by Tahir Farooqui and based in London, builds a rental ecosystem aimed at fostering trust between landlords, renters and agents. Its core product is an on-demand insurance platform backed by Hiscox that generates real-time prices for deposit insurance and rewards trustworthy tenants. The service centers on a RentPassport™ that provides proof of an individual’s rental and credit history and enables landlords and agents to pre-approve renters, streamlining the vetting process. The company raised £1.6m in funding and will use the proceeds to expand its business reach across the UK. Direct Line Group contributed £1.3m and took a 15% stake as part of the round. The funding is intended to support wider adoption of its insurance policies and the RentPassport product.