wejo, a leading UK technology company which collates data from connected vehicles, today announces that its technology is now tracking seven million vehicles in 190 countries worldwide and it has acquired a Silicon Valley based technology firm as part of its expansion plans.
Carjojo, which helps consumers negotiate the best deal when they buy a new car in the US, is the first acquisition for wejo, marking a major milestone for the group.
The number of vehicles on wejo’s technology platform, which analyses data from thousands of car sensors, has risen to more than seven million, doubling in just six months.
The data can be used to predict breakdowns, analyse collisions and monitor a car’s impact on the environment. wejo’s strategic ambition, led by CEO and founder Richard Barlow, is to become the world’s leading automotive data business and the acquisition of Carjojo is integral to this plan.
Carjojo uses big data and has proprietary algorithms to analyse the 17 million new cars for sale in the US to predict the lowest prices and represent consumers in the car buying process. Carjojo is an automobile buyer’s information site and a negotiating service that helps buyers secure the best price on a new car purchase.
wejo specialises in analysing car data and with Carjojo it now has access to, and will accrue value from, a new data set giving it insight and intelligence across the full breadth of vehicle ownership and lifecycle in the US. It means wejo has a live, dynamic and comprehensive picture of the automobile market in the US, a key trend-setting automotive market.
The deal also gives wejo an on the ground presence in San Jose, in Silicon Valley with Carjojo’s 10 employees who are expert data architects, programme developers and computer engineers. Going forward they will work closely with wejo’s field-based auto experts in the US.
In addition, wejo has just opened a new office in Manchester which is wejo's tech hub and tech centre of excellence. As a big data tech company attracting the region's brightest talent, wejo's new Manchester office reflects the continued success and growth of the business. Staffed by data engineers, programmers, data architects and analysts, the office will support wejo's 150 strong team in the US and at the head office in Tattenhall, outside Chester.
wejo has found that Manchester and the Northern Powerhouse area has a pool of very experienced, highly skilled digital, IT and data experts who have been integral to the company's success on the international stage, working with some of the world's most well-known auto companies.
“The acquisition of Carjojo is a really exciting development for wejo as it enables us to understand even more about the car market in the US and it’s a great fit for the business as we look to create the world’s leading automotive data insights company. In the rapidly evolving car ecosystem, wejo is now even better placed to understand and monetise the data produced by car owners and drivers around the world. Our new Manchester office is also a great step forward and we will no doubt attract the region’s best talent. We are immensely proud of being part of the high growth development in the Northern Powerhouse region and look to the future with confidence.”
wejo is a pioneering connected car data business based in the UK. wejo is reimagining the connected car and driving landscape, combining software solutions with data analytics to make connectivity insights more accessible. wejo’s automotive data exchange platform technology provides the data hosting, insights and monetisation of connected car data.
The connected car market is predicted to rise to over 250 million cars by 2025; today approximately 1.7% of the world’s cars are connected. Currently 7.4 million vehicles are tracked by wejo in over 190 countries, with 20 million cars projected to be on the wejo platform by the end of 2019. Today’s vehicles are fitted with 100s if not 1000s of sensors, each telling the story of the vehicle’s current state and how it is used. wejo curates, transforms and normalises this data. wejo has to date curated 73 billion miles of data. The epicentre of the autonomous and connected car ecosystem will revolve around car data and how it is harnessed, analysed and monetised by data exchange platforms.
In January 2018, wejo announced the completion of a successful £5m fundraising, this follows £20m raised over the previous two years. wejo also announced in January the appointment of Tim Lee as chairman. Tim was previously the Executive Vice President, Global Manufacturing, for General Motors, and Chairman of General Motors China. Wejo now employs over 150 people and has offices in Tattenhall, Manchester and San Jose, California.
Carjojo's mission is to make car buying simple, financially sound, transparent, and enjoyable. It uses big data and has proprietary algorithms to analyse the 17 million new cars for sale in the US to predict the lowest prices and represent consumers in the car buying process. Its head office is in San Jose, Silicon Valley, California.
www.carjojo.com is an automobile buyer’s information site and a negotiating service that helps buyers secure the best price on a new car purchase. Carjojo is different from traditional car-buying websites: it tracks inventory, price, and behaviour data for almost all new individual vehicles and dealers in the US. With this huge amount of data, it provides consumers with insights that helps them negotiate the best achievable price for a new vehicle. Carjojo can also negotiate car deals on a purchaser's behalf, by contacting vehicle dealers and using proprietary insights to solicit their agreement to sell the vehicle at a price that their data suggests is the best achievable price.