Otonomo to Enhance Global Mapping Products and Services in Microsoft Maps
Otonomo Technologies Ltd. (NASDAQ: OTMO) announced a partnership with Microsoft to provide streaming connected vehicle data aimed at enhancing Microsoft Maps and associated services. This collaboration will enable Microsoft to improve real-time traffic conditions, accident notifications, and route optimization across its platforms such as Azure and Bing. The integration of Otonomo's vehicle data will enrich Microsoft's road network insights, facilitating advanced features in their mapping offerings. Otonomo's CEO expressed satisfaction with Microsoft’s recognition of the value in their connected vehicle data, indicating a significant step forward for both companies.
- Partnership with Microsoft enhances Otonomo's market presence.
- Streamlined data integration for real-time traffic updates could lead to increased demand for Otonomo's services.
- Potential growth of Otonomo's client base through improved offerings via Microsoft.
- Reliance on a single major client (Microsoft) exposes Otonomo to business risks if the partnership falters.
Otonomo to Provide Streaming Connected Vehicle Data to Microsoft Maps to Enhance and Optimize Microsoft Azure and Bing Mapping Products and Services
HERZLIYA, Israel and SAN FRANCISCO, Jan. 31, 2023 (GLOBE NEWSWIRE) -- Otonomo Technologies Ltd. (Nasdaq: OTMO), the platform powering the mobility economy, today announced that Microsoft Maps has selected Otonomo to support and improve its global mapping products and services. The streaming connected vehicle data provided by Otonomo will allow Microsoft to develop enhancements to its mapping services for Microsoft Maps users across Microsoft Azure, Windows, Microsoft 365 and Bing, including providing current traffic conditions, accident notification and route optimization.
Microsoft will use connected vehicle data—including traffic data, road safety events and road sign data—to enrich and validate its current road network data. With these additional data sets, Microsoft can derive additional insights to support its mapping products and services, such as new road geometry or turn restrictions. Microsoft’s mapping products and services include its own branded solutions and licensed third-party offerings.
“Microsoft’s robust mapping services offer a wealth of detailed location and traffic data to its users across the company’s ecosystem of services, platforms and applications,” said Ben Volkow, CEO and co-founder at Otonomo. “We’re pleased that Microsoft recognized the benefit of the breadth, depth and quality of the connected vehicle data that runs through Otonomo.”
“The connected vehicle data available through Otonomo will provide a meaningful and high-impact addition to our current processing chains and data sets. We look forward to using Otonomo’s data to enhance our Maps,” said Russell Dicker, CVP Maps and Local at Microsoft.
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.
Our partners gain access to the broadest, most diverse, range of data from connected vehicles with just one contract and one API.
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.
More information is available at otonomo.io.
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For media and investment inquiries, please contact:
Juliet McGinnis
Senior Director of Communications, Otonomo
press@otonomo.io
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 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 The Floow, 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.
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