High Definition Vehicle Insurance (HDVI), a Chicago, IL-based technology-driven commercial auto insurance provider, raised $40M in growth capital.
The round, which brought its total funding to over $87M, was co-led by existing investors 8VC, Autotech Ventures, Munich Re Ventures, and Weatherford Capital. 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.
The company intends to use the funds for the enhancement of its telematics-driven products, expanded coverage, and improved tools for insurance agents as they scale nationwide.
Led by CEO Reid Spitz, and Chief Underwriting Officer Adam Barnett, HDVI is a technology-first commercial auto insurance provider. The company assesses risk using historical and real-time telematics data and provides tools and services that help fleets increase safety, reward safe driving, and benefit from efficient and fair claims processing. Its flagship product, HDVI Shift™, leverages telematics to help customers reduce risk and save up to 20% upfront and on monthly premiums based on safety performance. It is a licensed property casualty insurance agent with products underwritten by various insurance companies.
The company has additional offices in Greenville, South Carolina, and Columbus.
FinSMES
12/02/2025