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The investment will be used to help improve its driver behaviour coaching app.
Alongside the new investment comes a new brand name to better reflect the market proposition and the company’s values, said Praiso.
Laurence Vaughan, chairman at Praiso, said: “I am delighted the unique proposition and potential of Praiso to provide AI-derived digital driver education has been recognised, not only with this new investment but by attracting investors with a serious pedigree in the successful development of high growth software as a service (SaaS) businesses in the automotive market.
“We are really looking forward to developing our proposition further and providing our customers with market-leading, disruptive solutions and services.”
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