Leveraging Otonomo Data, Legentic Enables Fleet Customers to Achieve Better Operational Efficiency
Herzliya, Israel and Oslo, Norway – May 10, 2023 – Otonomo Technologies Ltd. (Nasdaq: OTMO), the platform powering the mobility economy, today announced a multi-year partnership with European Fraud and asset locating leaders Legentic. Under the agreement, by partnering with Otonomo, Legentic will provide its fleet customers with easier and cost-effective access to rich, actionable vehicle data insights across multiple vehicle brands.
Unlike other solutions that require aftermarket hardware, such as an on-board diagnostics (OBD) dongle to be installed to gain access to the telemetry data, Legentic can access the vehicle data and location directly through the Otonomo mobility platform across its wide services. Moving from hardware to software-based telematics can reduce installation and maintenance costs for fleet customers and time spent managing these aftermarket devices.
Legentic is one of the first major anti-financial crime Software as a Service (SaaS providers to partner with Otonomo that does not require aftermarket hardware to be installed to access fleet vehicle data. Otonomo delivers this data through open APIs and a proprietary data normalization process, reducing the customer’s need for intensive engineering investments. Delivering vehicle data through a single platform reduces complexity and administrative costs for fleet operators.
Ron Vermeulen, COO at Legentic, added: “The connected vehicle data available through Otonomo in Sjerlok helps us and our customers in Europe, US, and Canada in our daily fight against vehicle theft and embezzlement. We look forward to using Otonomo’s data in other use cases through the Legentic Platform in the future”.
“Working with Legentic is another important milestone that will drive future fleet business models, strengthen our fleet offering and continue innovating in the automotive and mobility sectors using connected vehicle data,” said Ben Volkow, CEO and co-founder at Otonomo. “This partnership not only enables Legentic to expand its portfolio to serve new multi-brand fleet owners but also helps our partners focus on value creation instead of data pipelining and connectivity engineering.”
About Otonomo
Otonomo (NASDAQ: OTMO), the platform powering the mobility economy, is igniting a new generation of mobility experiences and services and is making mobility more accessible, equitable, sustainable and safe. With Otonomo, over 100 providers in the transportation, mobility, insurance, and automotive industries are finally able to harness mobility data and insights and transform them into strategic assets and market advantages.
Architected with privacy and security by design, our platform is GDPR, CCPA, and other privacy regulation compliant, ensuring all parties are protected and companies remain privacy compliant across geographies worldwide.
Otonomo has R&D centers in Israel and the UK, with a presence in the United States and Europe.
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About Legentic
Legentic offers unique and innovative solutions focused on the validation of truthful claims, exposure of fraud, and asset recovery. We collect big data from multiple sources worldwide, enriched through AI and machine learning, and converted into easily accessible digital footprints. Through our SaaS platforms, Legentic Mohawk and Legentic Sjerlok, we help our customers worldwide to prevent and fight credit loss and financial crime better and faster.
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Torunn Stavran Johansen
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Forward Looking Statements
This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Otonomo, the anticipated technological capability of Otonomo, the anticipated benefits of the acquisition of Neura, the amount and timing of synergies from the acquisition of Neura, the markets in which Otonomo operates and Otonomo’s projected future financial and operational results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement, including but not limited to, the ability to implement business plans, forecasts, and other expectations, the ability to identify and realize additional opportunities, the ability to successfully integrate Neura, and potential changes and developments in the highly competitive data marketplace. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in Otonomo’s annual report on Form 20-F filed with the SEC on March 31, 2022 and other documents filed by Otonomo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Otonomo assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Otonomo gives no assurance that it will achieve its expectations.