Valor Siren Ventures Closes Out a $5m Seed Round For ping, a Patented Voice Platform for the Gig Economy, Auto Insurance and Fleets

NEW YORK, June 9, 2022 /PRNewswire/ -- ping is the first and only voice platform for commercial drivers that reads delivery updates and all other time-sensitive messages aloud automatically, so they can drive safer.

71% of commercial vehicle crashes involve distracted driving (FMCSA). Companies tell workers not to use their smartphones while driving, but also expect them to be highly responsive and deliver exceptional service. The gig economy requires drivers to check their phones, and the lawsuits are mounting.

ping's patented voice technology reduces risk and increases efficiency by reading delivery updates, dispatch notifications and other urgent messages out loud, with no action from the driver. Built for enterprise clients, ping reads all message types hands-free and eyes-free in 105 languages, and delivers comprehensive usage and driving behavior data.

With Valor's investment, alongside Ash Creek Capital Advisors, ping has raised a $5m Seed Round.

Jonathan Shulkin, Fund Manager at Valor Siren Ventures and Co-President at Valor Equity Partners, said: "ping has created unique technology to bring efficiency, cost savings, safety and data to the gig economy. We are incredibly excited to be able to contribute to this purposeful journey."

By adding ping to insurance and gig driver apps, users enjoy an enhanced driving experience:

• Robust voice assistant: automatically reads important messages.
• Easily configures which messages to read and for how long.
• Simple voice commands to skip, pause, delete or mark messages as unread.
• Runs in the background when using maps, music or gig apps.

"Our mission is to get every driver home safely. We designed ping's voice functionality to add considerable value to gig drivers and other commercial vehicle apps," said Garin Toren, CEO of ping. AI-driven telematics coaches drivers, and provides extensive driving data to the organization."

ping increases efficiency, reduces delays and enhances the driver experience. Most importantly, the platform significantly lowers the liability of distracted driving collisions, injuries and fatalities. 

The Valor Siren Ventures (VSV) mission is to be the leading innovation engine and investor in early-stage sustainability, food, food technology, retail, and retail technology investing. Rooted in Valor's history of food and retail technology, Valor believes there is an opportunity to develop a new model for venture investing with VSV. Our team aspires to create value by generating differentiated investment opportunities, applying our intellectual capital, and accelerating the growth of portfolio companies through operations assistance in scaling. www.valorep.com 

ping is a global voice tech company focused on delivering safety, convenience and productivity to commercial drivers. Available via SDK and white label, it is the only patented voice platform for iOS, Android and Alexa that reads all messages automatically, and on demand, in 105 languages. ping delivers customer value, savings and revenue to a broad range of third-party apps and B2B partners including gig economy, insurance, trucking and fleet, automakers and mobile operators. www.pingloud.com.

ping
Garin Toren

[email protected] 
+1-646-460-9457

SOURCE ping

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