Insight Partners led a $40m Series B round in Motorq.

Insight Partners, a New York-based global private equity and venture capital firm, led a $40m Series B round in Motorq, a connected car API company, with participation from Story Ventures, FM Capital, Monta Vista Capital and Avanta Ventures. "The increasing ubiquity of connected vehicles creates an unprecedented opportunity for growth for a range of industries. With fresh capital from Insight Partners and others to support our core strategy, we are uniquely prepared to deliver insights from data that can reduce costs and boost efficiencies for fleets, optimize auto rental fleet management, revolutionize underwriting for insurance, and deliver new revenue opportunities for OEMs and dealers," Arun Rajagopalan, Motorq Co-founder and CEO.