The round, co-led by existing investors 8VC, Autotech Ventures, Munich Re Ventures, and Weatherford Capital, will support the enhancement of HDVI’s telematics-driven products, expanded coverage, and improved tools for insurance agents as the company scales nationwide.
“HDVI’s innovative use of real-time telematics is reshaping commercial trucking insurance,” said Will Weatherford, managing partner at Weatherford Capital. “This latest fundraise underscores the confidence we have in HDVI’s leadership and ability to deliver profitable growth.”
Following this funding round, Alexei Andreev of Autotech Ventures and Jake Medwell of 8VC will join HDVI’s Board of Directors, alongside existing members Jacqueline LeSage of Munich Re Ventures, Will Weatherford, and HDVI’s Reid Spitz and Chuck Wallace.
HDVI also announced key leadership transitions. After seven successful years as CEO, co-founder Chuck Wallace will become a strategic advisor and continue supporting the company’s long-term vision. Co-founder Reid Spitz, appointed president in January 2024 to prepare for this shift, will now serve as CEO and guide HDVI’s next phase of profitable growth.
“With the infusion of capital, HDVI is well positioned to continue leading the industry in leveraging technology in commercial auto insurance,” said Spitz. “Our team remains committed to continued innovation using telematics and other data sources along with new AI tools throughout the commercial auto policy lifecycle to drive risk reduction and efficiency at scale.”
Wallace added: “I look forward to supporting my co-founder Reid in his new role. Reid is the right person to lead HDVI as it continues its strong growth and innovation in the future.”
