Drivewise.ly raises $1.3M to score your driving with smartphones

Drivewisel.y can tell you how good of a driver you are.

The startup has raised $1.3 million for its mobile app that collects data on your driving habits. Every time you take a trip, Drivewise.ly uses smartphone sensors to learn gather information about speed, distance, acceleration, etc…The app then assigns you a driving score.

Scores are shareable, so you can show your friends and family if you are a “road maestro” or “non-faulting driving connoisseur.” The scores can also be taken to insurance companies to negotiate lower rates or find a more appropriate insurance plan. Teenage drivers can use it to prove they don’t speed, while infrequent drivers can demonstrate why they need usage-based insurance.

Drivewise.ly’s site says that up to 30% of your vehicle’s fuel economy is determined by your driving style. The app uses the information it collects about your driving habits to offer tips and help you improve your gas mileage. This has the dual benefit of saving money and lowering your carbon footprint.

The quantified self movement is taking off and people are tracking everything from their sleeping pattern to their stress levels. Collecting and understanding this data can yield fresh insights into our behavior and guide us to make improvements. Drivewise.ly applies this principal to road behavior.

Yesterday a similar startup named Zendrive announced that it has raised $1.5 million. Zendrive also gathers data about your driving habit, but instead of offering a score, gamifies driving by offering real-world rewards (like a discount at a local eatery) for making good decisions.

Both apps are built on the idea that if people are more aware of their driving habits, they will become better drivers.

An SEC filing lists Gigi Levy as an investor. Drivewise.ly is based in Sunnyvale, California.

via VentureBeat http://venturebeat.com/2013/08/30/drivewise-ly-raises-1-3m-to-score-your-driving-with-smartphones/