USA: Life360 has announced that BMW i Ventures, the venture capital company of BMW Group, has made a strategic, long-term investment in the mobile app company. Using location-based technology, Life360 enables its more than 30 million users to set up a private family network to see where their loved ones are located, know when they need help and see where the nearest safety resources are at all times.
Life360 is free to download on Android and iPhone platforms. Tracking of a non-smartphone can be added to a family network for $4.99/month. Life360 users can view their family members’ locations on a private family map, request and send “check ins,” view crime data as well as safety resources on the map, and send a panic alert if needed. Life360 recently announced several new features, including a geo-fencing feature called “Places” that allows users to designate locations on the map and receive an alert every time a family member arrives at those designated locations. The new “Places” feature has proven to be extremely popular with families who appreciate the convenience of automatic alerts when a loved one arrives at home, school, work or at another designated location.
Founded in 2008, Life360 placed first in Google’s Android Developer Challenge in that same year and launched its app in 2009. Since then, it has attracted more than 30 million users and more than 150 billion location points have been shared. More than 2,500 location points are shared every second through Life360.
Chris Hulls, co-founder and CEO of Life360, said: “We have long envisioned how Life360 can be integrated into connected cars. We are thrilled to be partnering with the innovative team at BMW to develop convenient ways for families to safely stay connected with each other when they are on the road. For example, our location-based technology could allow drivers to touch a portrait of a family member on their dashboard and navigate directly to that family member. This is just one of many ways Life360 can be integrated into the car to deliver a valuable utility to families.”
Ulrich Quay, Managing Director of BMW I Ventures, said: “Life360 offers a great addition to our portfolio underlining BMW’s vision of convenient and efficient mobility and safety. The strategic investment enables BMW and Life360 to explore different ways to co-operate together on innovative location-based and integrated services for families.”
Life360 is the fifth strategic investment by BMW i Ventures. Other investments include MyCityWay, ParkAtMyHouse, Chargepoint and Embark. The BMW i Ventures investment in Life360 represents a minority stake.