RapidSOS, a US-based developer of an emergency prediction software, secured $16m in funding on Wednesday in a round featuring insurance firm CSAA Insurance and Microsoft Ventures, a subsidiary of software provider Microsoft.
Highland Capital Partners led the round, which included fellow venture capital firm Forté Ventures. It boosted the company’s overall funding to about $35m since it was founded in 2013.
RapidSOS has developed software that uses real-time data received from connected equipment like wearable devices, connected cars’ telematics systems, smoke detectors and mobile devices to predict emergencies.
The platform links to emergency services and first responders to provide information from surrounding devices in order to enhance situational awareness.
Sanjiv Parikh, CSAA’s managing partner of corporate venture capital said: “Investing in RapidSOS reflects our commitment to safety and security by enabling people to receive faster emergency response when they need it.”
Highland Capital led a $5m round for RapidSOS in 2015 as well as a $14m series A round in April 2017 that featured Motorola Solutions Venture Capital and A3 Ventures, respective subsidiaries of communications technology maker Motorola Solutions and motor club AAA Northern California, Nevada and Utah.
Two Sigma Ventures, the VC arm of investment manager Two Sigma, also participated in the series A round, along with VC firms Westly Group and Responder Ventures, and assorted angel investors.