• Tue. Nov 29th, 2022

Valor Siren Ventures closes $5 million seed round for ping, a patented voice platform for the on-demand economy, auto insurance and fleets

ByElla E. Kidwell

Jun 9, 2022

NEW YORK, June 9, 2022 /PRNewswire/ — ping is the first and only voice platform for commercial drivers that automatically reads aloud delivery updates and all other time-sensitive messages, so they can drive safer.

71% of commercial vehicle accidents involve distracted driving (FMCSA). Companies tell workers not to use their smartphones while driving, but also expect them to be highly responsive and provide exceptional service. The gig economy is forcing drivers to check their phones, and lawsuits are on the rise.

Patented voice ping technology reduces risk and increases efficiency by reading delivery updates, shipment notifications and other time-sensitive messages aloud, without driver intervention. Designed for enterprise customers, ping reads all types of hands-free and eyes-free messages in 105 languages, and provides comprehensive usage and driving behavior data.

With Valor’s investment, alongside Ash Creek Capital Advisors, ping raised a $5 million Seed tower.

Jonathan ShulkinFund Manager at Valor Siren Ventures and Co-Chairman at Valor Equity Partners, said, “ping has created unique technology to bring efficiency, savings, security and data to the gig economy. We are extremely happy to be able to contribute to this useful journey.”

By adding ping to the insurance and driver apps, users get an enhanced driving experience:

  • Robust Voice Assistant: Automatically reads important messages.
  • Easily configure which messages to read and for how long.
  • Simple voice commands to mute, pause, delete or mark messages as unread.
  • Runs in the background when using maps, music or gig apps.

“Our mission is to bring every driver home safely. We designed voice ping functionality to add tremendous value to gig drivers and other commercial vehicle applications,” said Garine Toren, CEO of ping. AI-driven telematics coaches drivers and provides comprehensive driving data to the organization.”

ping increases efficiency, reduces delays and improves the driver experience. More importantly, the platform significantly reduces liability for collisions, injuries and deaths related to distracted driving.

About
VSV

The mission of Valor Siren Ventures (VSV) is to be the leading innovation driver and investor in sustainability, food, food technology, retail and retail technology investments. Rooted in Valor’s history in food technology and retail, Valor believes there is an opportunity to develop a new venture capital investment model with VSV. Our team aspires to create value by generating differentiated investment opportunities, applying our intellectual capital and accelerating the growth of portfolio companies through operational support at scale. www.valorep.com

About
ping

ping is a global voice technology company focused on the safety, convenience and productivity of commercial drivers. Available via SDK and white label, it is the only patented voice platform for iOS, Android and Alexa that reads all messages automatically, and on demand, in 105 languages. ping delivers customer value, savings, and revenue to a wide range of third-party applications and B2B partners, including gig economics, insurance, trucking and fleet, automakers, and mobile operators. www.pingloud.com.

ping
Garine Toren

[email protected]
+1-646-460-9457

Ping SOURCE