BMW i Ventures announces strategic investment in largest family mobile app company
Join Date: Nov 2012
The BMW Group continues diversifying its portfolio of innovative mobility services under the brand BMW i. The company’s venture capital entity, BMW i Ventures, is announcing a new investment in the mobile technology company Life360. This will increase the number of mobility services providers which already includes MyCityWay, Park@MyHouse, Chargepoint and Embark. The BMW i Ventures investment in Life360 will expand the company’s efforts to increase freedom and safety of mobility for individuals and families.
“I am pleased to announce that BMW i Ventures is making its fifth strategic investment, this time in Life360 – the largest family-focused mobile app, enabling more than 14 million families to stay in sync during their busy lives”, says Ulrich Quay, Managing Director of BMW i Ventures, LLC. “Life360 offers a great addition to our portfolio and advances BMW’s vision of convenient, safe and efficient mobility. With this investment, BMW and Life360 will explore ways to co-operate on innovative, location-based and integrated services for families. One in-car possibility could be a smooth and seamless navigation to family members in multiple locations.”
Chris Hulls, Co-Founder and CEO of Life360: “We are very excited to announce the investment from BMW i Ventures, and are looking forward to all the ways we can partner to develop integrated services. Life360 has always had a strong interest in the connected car space, and this allows us to explore those ideas like never before.”
With over 30 million users, Life360 is the leading location and communication app for families using Android or iPhone. Using location-based technology, Life360 enables parents to see where their children are, know when they need help and identify the nearest safety resources when needed. The app operates in a convenient and secure way that does not interfere with busy schedules or personal freedom. Founded in 2008, Life360 placed first in Google’s Android Developer Challenge in that same year and has received funding from several prominent investors.