![]() Our insurance offerings to insurance companies (collision reconstruction) are SaaS based. Nexar also has a Nexar Data insurance platform that is SaaS-based: CityStream is primarily marketed to city planners and municipal/transportation authorities who monitor road conditions. In addition to its dashcam business, Nexar also has a data arm called Nexar Data, which pulls anonymized images from Nexar dashcams into its CityStream platform (screenshot below). Three of the six dashcams sold on Nexar's website, the SCOSCHE NEXC1 Dash Cam, the SCOSCHE NEXS1 Dash Cam, and the SCOSCHE NEXC2 Dash Cam, were made in partnership with California-based camera accessories company Scosche. We design and sell our dashcams ourselves and use contract manufacturing. Nexar did not comment on its OEM partners, only noting that it designs its dashcams itself: Nexar One is about offering a dashcam as a car security device, protecting the car when the driver is both driving and away, and enabling the owner of the dashcam to track and get alerts from a fleet of Nexar Ones in fleet vehicles. In comments to IPVM, Nexar described its newest dashcam model, Nexar One (pictured, currently on pre-order and not yet available for purchase) as a "car security device": Through smartphone integration, Nexar seeks to expand upon the traditional dashcam, combining elements typically associated with a car alarm. Most importantly it can alert you if something happened to your parked car or send emergency alerts to your contacts, in case of a collision or other harsh driving event, so you can get assistance. Nexar also helps you find where you parked your car, and supports tracking of a small fleet. Drivers can show law enforcement how they've driven, exonerate themselves, and our collision reconstruction insurance feature actually "understands" what every party on the road did. Nexar's focus is visual evidence of driving, from the road with smart alerts coming from its connectivity features. Nexar told IPVM that its dash cams offer "visual evidence of driving," providing customers with emergency alerts and support in criminal proceedings, as well as with insurance claims: Nexar's cameras also have expandable local and free cloud backup. The company's smart cameras are capable of streaming to the customer's mobile device, with the video viewable through Nexar's Android and iOS apps. Nexar markets six dashcam models that record the road in 1080p or 4K. This revenue estimate would put the dashcam company's pre-money valuation in the $100-200 million range. IPVM estimates Nexar's revenue to be ~$30 million or higher given the above disclosure and the average price of Nexar's dashcams on its web store and Amazon. ![]() We expect to continue the same growth trajectory this year, with an additional offering of Nexar One, our smartest connected dashcam with AI-inside, LTE, and 4K resolution. It has 165 employees, and sells hundreds of thousands of dashcams annually. Nexar is the leading dashcam consumer brand in the US, selling smart dash cams and growing 280% year over year. Nexar did not disclose its revenue or sales figures, simply stating that it is growing 280 percent YoY and that it "sells hundreds of thousands of dashcams annually": Nexar has now raised $153 million, according to a post on the company's blog by Nexar CEO/co-founder CEO Dr. November 2021 video from Nexar's YouTube channel announcing the fundraising: $53 million Series D funding round led by Qumra Capital with the participation of State Farm Ventures, Catalyst Investments, Banca Generali, Valor and previous backers Atreides Management, Corner Ventures, Regah Ventures, Aleph and more. Nexar raised a $53 million Series D in November 2021 led by Qumra Capital, a Tel Aviv, Israel-based firm that supports late-stage Israeli technology companies: Nexar also has a division, Nexar Data, which pulls anonymized images from Nexar dashcams into its CityStream platform, which is marketed to city planners and authorities who monitor road conditions. connected) dashcams and related accessories directly to customers, primarily through its online store. Eran Shir and CTO Bruno Fernandez-Ruiz and sells smart (i.e. Inside this report, IPVM profiles Nexar's business, including comments from the company about its newest camera model and the firm's goals for 2022. Israel-based Nexar raised $53 million to help expand its dashcam business into both the international and US fleet markets.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |