a multidisciplinary team of researchers, mobile and backend developers, physicists and data scientists aligned on a common objective : to understand driving behaviours to improve road safety and reduce the environmental impact of mobility.
Over the past decade, we have witnessed radical changes in our mobility such as vehicle electrification, the end of a single model of individual ownership, the emergence of shared and green mobility, and the rise of connectivity in all modes of transport.
That revolution affects the entire mobility ecosystem and pushes companies to adapt their business model to these new realities. The insurance industry is deeply impacted by these changes with growing needs for more connectivity and data to allow for greater precision, more prevention, and additional services. It results in new products such as “pay-as-you-go” offer that are ecological and economical.
To facilitate industry transformation, DriveQuant describes and quantifies all forms of mobility to reduce its environmental impact while improving road safety.
To reach our objective, we have developed a universal driving measurement solution based on mobile telematics. Our algorithms analyze real-time data collected by mobile sensors and calculate the environmental and safety impact of every trip.
That information is then transparently returned to drivers to make them aware of the quality of their driving and the scope for improvement. We firmly believe, and our results prove it, that a radical change is possible by empowering and coaching drivers to drive greener and reduce distraction behind the wheel.
DriveQuant was founded in 2017 by two engineers from IFPEN (Institut Français du Pétrole et des Énergies Nouvelles). Concerned about the environmental impact of mobility, Philippe and Olivier have developed a mobility measurement solution to reduce its environmental impact and improve road safety.
Our solution has already convinced many players in the insurance sector. We help them market new mobility offers such as Pay-As-You-Drive and Pay-How-You-Drive insurance. DriveQuant also guides private companies in the deployment of eco-prevention and risk-reduction projects.
In 2014, the Geco mobile app was launched to encourage eco-driving. This unique app uses algorithms similar to those implemented for vehicle energy management. In this way, we prove that phone sensors, combined with physical algorithms, have the capacity to measure driving energy efficiency and coach drivers to reduce their environmental footprint. Our approach is validated and remains in place to this day.
From this technology base, Philippe Moulin, Olivier Grondin and Jérémy Bayle decided to extend this approach and build a platform of driving data analysis services for mobility companies. The service portfolio is extended to include road safety analysis for the connected insurance market.
Our first customers connect to our platform. We create the DriveQuant brand which translates our business and our ambition to quantify driving and transform complex data into simple, honest and actionable indicators. We become convinced that the smartphone is the perfect tool to collect massive amounts of driving data and to engage with drivers.
The first projects are successful, the market is confirmed. On February 6, we founded DriveQuant, the first startup company and a wholly-owned subsidiary of IFPEN to improve the two main problems of mobility: road safety and environmental footprint. In an emerging market in France, we are becoming the pioneers of smartphone telematics.
We are launching several insurance offers in France with APRIL Moto, Altima, MAIF. Our solution integrates iBeacon technology capable of identifying vehicles and our eco-driving and safety services are completed by an innovative solution to help drivers to reduce phone use while driving.
We created the second generation of our SDK: DriveKit. This unique SDK enables players around the world to access telematics effortlessly. We launch an even more powerful version of our distraction analysis service that detects phone use while driving. We are also deploying vehicle wear and tear analysis services.
The health crisis is not stopping us and we are upgrading our distraction analysis and mobility detection services. We are also developing a solution to identify car accidents based on the smartphone's inertial measurement unit. In October DriveQuant joined forces with FairConnect, the European leader in connected insurance, to accelerate its development and continue to innovate. DriveQuant has raised 5.4 M€ since its creation.
Launch of a smartphone-only crash detection solution. Thanks to the partnership with FairConnect and the success of our commercial activity, we are significantly accelerating our international development. At the end of the year, our solutions were deployed in 25 countries on 4 continents. We are celebrating our 40th customer since the creation of the company. We are strengthening our teams to improve the measurement and prevention of accident risk for the insurance industry.
We are passionate engineers committed to making a difference in mobility. We use our scientific knowledge to innovate, create value and impact society. We define ourselves as experts in measuring mobility and its environmental impact.
Working at DriveQuant is first and foremost a personal commitment to making a difference, defending a greener mobility and improving road safety. On a more personal level, it is a commitment to give the best of yourself every day.
Customer satisfaction is our top priority. We partner with our clients to help them ensure the success of their projects.
Customers: We believe that our customers must understand the fundamentals of our technology. For this reason, we have open-sourced our demo application and graphical libraries on GitHub. Plus, all the data we collect and analyze is shared with our customers only.
Users: We want our end-users to understand the scores they received and their room for improvement.
HR: Our management is also transparent. We organize regular meetings with the Team to keep it informed of the financial health of the company. We also frequently exchange with members of the Team on the quality of their work and their evolution at DriveQuant.
Launched in 2017, our solution has been designed according to the principles of data privacy by design and is 100% compliant with the GDPR. We are fully transparent about the data we collect and how we use it. Plus, we made the choice to base our entire cloud infrastructure in Europe (at OVH) to strengthen the trust between us, our customers and users. We put trust at the heart of our relationship with our end users and our success depends on it. We are therefore very keen to preserve it.
CEO - DriveQuant
Philippe Moulin is an engineer from the Mines de Paris and holds a Doctorate in Applied Mathematics. He began his career in the automotive industry. He first worked for auto parts manufacturers, then joined the IFP Énergies Nouvelles (IFPEN). After leading many innovative projects around connected vehicles, Philippe decided to found DriveQuant in 2017, in order to bring driving analysis services to the market based on his expertise in physics.
CEO - FairConnect Group
Carmine Carella holds a BA in Economics from Bocconi University (Milan). He started his career in McKinsey & Company before joining Cobra Automotive Technologies in 1991. In 2000, Carmine became Chief Executive Officer, and in 2002 he led the creation and development of Cobra Telematics SA with the ambition to expand Cobra's activities in the field of automotive telematics. After almost 25 years at Cobra, Carmine left the company after its acquisition by Vodafone IoT. In 2016, Carmine decided to found FairConnect with the idea of helping insurance carriers in servicing connected motor & property solutions to policyholders.
CPO / CTO - DriveQuant
Olivier Grondin holds a Master's Degree in automatic control and signal processing from the University of Poitiers and a Ph.D. in energetics from the University of Rouen. He joined IFP Energies Nouvelles in 2005 where he worked for 10 years on low-emissions engine control and hybrid vehicle energy management. Since 2015, Olivier has been working to make driving safer through smartphone data analysis. He is leading the development of a simple, universal and scalable product to help insurance companies and drivers to reduce car accidents.
CFO - FairConnect Group
Matteo Recchia holds a Chartered Financial Analyst (CFA) designation, a Master in Finance and a Bachelor of Business Administration from Bocconi University (Milan). He started his career as an auditor at PwC, before becoming a partner at Partners CPA for five years in its Corporate Finance & Structured Products Advisory division in Milan. In 2016, Matteo joined the London-based private equity firm Palamon Capital Partners as Associate Principal, and became a member of the FairConnect board in 2018 when Palamon invested over €100 million in the company. In 2020, Matteo was named CFO of the FairConnect Group.