Raven Connected Secures Follow-On Funding Round To Expand Team and AI Feature Set
With fresh funding from Celtic House Venture Partners, Graphite Ventures and other existing investors, Raven Connected ramps up to expand its video telematics offering with a continued vision to make roads safer.
July 12, 2022
Raven Connected closed a new funding round to bolster its position as an innovative and agile player in the connected vehicle space. The latest round was led by Celtic House Venture Partners with participation from Graphite Ventures and other existing investors.
After a year of establishing key partnerships and developing integration tools to bring video telematics to the broader market, this new round of investment will accelerate Raven Connected’s initiatives to democratize AI for video telematics and smart city applications. Upcoming developments will provide critical insights for businesses and governments of all sizes and open the door to new geographic markets.
“We’re pleased to continue supporting Raven Connected by leading its latest funding round,” said David Adderley, partner at Celtic House Venture Partners. “Since our initial seed investment, Raven has evolved from providing all-in-one video telematics hardware devices to offering a complete cloud-based video telematics IoT-as-a-service platform. With its expanded offering, Raven is seeing traction in a wider range of industries and applications, and has developed strong relationships with a number of key channel partners across North America.”
The Raven Connected team has already been busy announcing some of this work, including:
“I’m excited for where this investment will allow us to take the business,” said Dan Carruthers, CEO of Raven Connected. “We’re thankful that our funding partners share our vision for the future of AI-enhanced vehicle technology. Up to now, it’s been very expensive, limiting accessibility to larger businesses. We’re changing the landscape, making cost-effective, easy-to-use solutions to create safer roads for everyone.”
“We’re pleased to support Raven Connected in this phase of their journey, the growth of the company since we first met with them has been extremely compelling and we are excited to watch them capitalize on the opportunities in front of them” said Kevin Madill, Venture Partner at Graphite Ventures.
About Raven Connected
Raven Connected is an engineering design and technology business focused on the burgeoning IoT-connected car market. Led by CEO Dan Carruthers, Raven Connected was established in 2016 and is headquartered in Ottawa, Canada. Many members of the Raven team were the developers behind Piper—the world’s first consumer self-monitored home security product. The Raven Video Telematics solution is available directly through Raven Connected’s website or Telus Business for Canadian customers.
About Celtic House Venture Partners
Drawing from its 20 years of experience as an active investor in technology and innovation, Celtic House Venture Partners collaborates with exceptional founding teams with strong track records and a data-driven mindset to build category-leading technology companies. These collective efforts have resulted in over 25 IPO and M&A transactions. For more information, visit http://www.celtic.vc.
About Graphite Ventures
Graphite Ventures is an early-stage seeding for scale venture capital firm. Founded in 2021 as an evolution of MaRS IAF, Graphite Ventures is one of Canada’s most active and consistent venture capital funds, having invested in 175 companies over the past decade. Graphite Ventures invests in early-stage B2B SaaS, fintech, proptech, digital health and capital-efficienthardware businesses. For more information, please visit graphitevc.com.