Globant's Be Kind Tech Fund Invests in ping Voice Technology Platform to Help Get Drivers Home Safely

Rhea-AI Summary

Globant (NYSE: GLOB) announced its first investment from the Be Kind Tech Fund in ping, a voice technology company focused on reducing distracted driving. This initiative aims to enhance road safety by allowing commercial drivers to hear messages read aloud in 105 languages, significantly minimizing texting while driving. The $5 million seed funding will help ping expand its patented technology to gig economy firms worldwide. This investment aligns with the Be Kind Tech Fund's mission to support startups addressing technology misuse, thereby promoting a safer digital environment.

Positive

• Globant's Be Kind Tech Fund invested $5 million in ping, emphasizing road safety.
• Investment aims to reduce distracted driving, a significant safety concern.
• ping's technology is set to be rolled out globally, addressing a large market.
• The investment aligns with Globant's strategic initiative to promote responsible tech use.

Negative

• None.

• First Be Kind Tech Fund investment on its mission to support startups that mitigate the misuse of technology and create a kinder digital world
• ping technology lets commercial drivers hear messages out loud in 105 languages, making processes hands-free, reducing texting while driving, and helping improve overall driving habits
• Be Kind Tech Fund's investment will help fund ping's business development and expand availability worldwide

SAN FRANCISCO, July 27, 2022 /PRNewswire/ -- Globant (NYSE: GLOB), a digitally native company focused on reinventing businesses through innovative technology solutions, today announced that its Be Kind Tech Fund has invested in ping, a U.S.-based voice platform company that helps enterprises eliminate distracted driving by enabling commercial drivers to hear their smartphone messages and emails read out loud in more than 105 languages, creating a safer experience for drivers, passengers, and pedestrians.

As the Be Kind Tech Fund's first investment – alongside investments from other firms – the fund has helped ping raise a $5M joint seed round, which will enable the company to roll out its patented technology to hundreds of gig economy companies around the world. In addition to expanding ping's reach, the Be Kind Tech Fund's investment will enable the company to leverage Globant's existing network globally.

Founded in 2021, the Be Kind Tech Fund is the first and only corporate venture fund wholly focused on supporting startups that seek to mitigate the misuse of technology. Since its launch, the Be Kind Tech Fund has established partnerships with The George Washington University, as well as investors including Riverwood Capital, IDB Lab, Nazca, and entrepreneurial organizations such as Endeavor, LAVCA, and Newlab. The Center for Humane Technology also joined the Fund as an advisor. By establishing an ecosystem of like-minded organizations across influential sectors – from education to venture capital – the Be Kind Tech Fund is leading the creation of a new support system for mission-based technology startups.

"ping is a perfect example of the type of startup that we had in mind when creating the Be Kind Tech Fund," said Guibert Englebienne, Globant Co-Founder, President for Latam and Globant X. "We want to make sure that technology is harnessed for the benefit of society, and we admire ping's innovative use of patented voice technology to help drivers get home safely – an increasing issue as the gig economy continues to grow exponentially. We look forward to helping ping meet its goals, providing its team with expert guidance from our ecosystem, and contributing to its success."

"Millions of gig economy drivers are put in danger every day by the constant notifications and alerts delivered to their smartphones across a variety of apps, which contribute to distracted driving and often lead to accidents," said Garin Torin, CEO, ping. "Our goal is to keep drivers and passengers safe by eliminating distractions and helping them get home safely. The Be Kind Tech Fund's mission to prevent the misapplication of technology is perfectly aligned with the purpose of our platform, making this support from the Fund and its ecosystem especially meaningful."

According to the Department of Transportation's National Highway Traffic Safety Administration (NHTSA), distracted driving costs the economy $129 billion per year and 11 lives per day. To help mitigate this risk, ping developed a patented Drive Mode voice platform that can integrate directly into the apps of automakers, insurers, music services, podcast platforms, and fitness apps, as well as on-board telematics and commercial fleet management software. In addition, ping can be white-labeled to create branded apps for cities, insurers, and wireless carriers. Besides reading messages out loud, ping can also coach drivers to be safer by alerting them to hard braking and acceleration, excessive lane changing, speeding, and phone handling while driving.

CameraMatics, a vehicle operations cloud platform, integrated ping's voice technology to enhance safety and help commercial and fleet drivers avoid distractions that can cause accidents. "ping's technology unlocks a new phase of fleet safety with its proven ability to reduce distractions while still ensuring critical updates are communicated," said Mervyn O'Callaghan, CEO, CameraMatics. "With ping's integration into CameraMatics, we are now able to provide the most comprehensive safety solution on the market."

For more information about the Be Kind Tech Fund or to join the ecosystem, please visit www.bekindtechfund.com. For more information about ping, please visit www.pingloud.com.

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About Globant
We are a digitally native company that helps organizations reinvent themselves to create a way forward and unleash their potential. We are the place where innovation, design, and engineering meet scale.

• We have more than 24,500 employees, and we are present in 19 countries working for companies like Google, Electronic Arts, and Santander, among others.
• We were named a Worldwide Leader in CX Improvement Services by IDC MarketScape report.
• We were also featured as a business case study at Harvard, MIT, and Stanford. 
• We are a member of the Green Software Foundation (GSF) and the Cybersecurity Tech Accord.

Contact: pr@globant.com
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For more information, visit www.globant.com.

About Be Kind Tech Fund
Launched in 2021, the Be Kind Tech Fund is a $10 million USD corporate venture fund administered by Globant Ventures. The fund seeks to assist global startups looking for support in developing apps, products, and platforms that are focused on mitigating the negative effects of technology, such as online harassment and abuse, data privacy and security, AI bias, screen time abuse, and information bubbles and polarization.

If you are an entrepreneur or startup focused on mitigating the negative impacts of tech, or are interested in knowing more about the Be Kind Tech Fund, please visit www.bekindtechfund.com and join the revolution.

View original content:https://www.prnewswire.com/news-releases/globants-be-kind-tech-fund-invests-in-ping-voice-technology-platform-to-help-get-drivers-home-safely-301594356.html

SOURCE Globant

FAQ

What is the investment amount by Globant's Be Kind Tech Fund in ping?

Globant's Be Kind Tech Fund invested $5 million in ping.

What does ping's technology do?

Ping's technology allows commercial drivers to hear smartphone messages read aloud in 105 languages, reducing distracted driving.

What is the objective of the Be Kind Tech Fund?

The Be Kind Tech Fund aims to support startups that mitigate the misuse of technology.

When was the investment in ping announced?

The investment was announced on July 27, 2022.

How does ping's technology enhance driver safety?

Ping's technology minimizes distractions by reading messages aloud, helping drivers focus on the road.