Five Secures $41M in Series B Funding
Summary
In conjunction with the funding, Gus Park, MD of Motor Insurance at Direct Line Group, joined Five’s board. The company, which has raised $77M to date, intends to use the funds to continue to expand operations and advance its development efforts. Five’s work in building a self-driving system has led to understanding of how to develop and assure safety-critical software that encounters and interacts with complex and changing objects, behaviours and environments in the real world. In consequence, the team – led by Stan Boland, CEO – began building cloud-based platforms alongside its software to address the most complex challenges it encountered in the process of development and assurance. Together, these will provide global partners with the means to bring performance and engineering certainty to their self-driving programs and deliver the assurance evidence required for their safety cases, both of which will be essential for meaningful public road deployments and the widespread commercialisation of self-driving technology.