The Problem
While delivery, construction, trucking, food and beverage and other fleet-based companies have phone policies, they are impossible to enforce, leading to costly repairs, injuries and deaths. Fleets have a 20 percent annual accident rate at an average cost of $20,000 each, and some accidents result in multi-million dollar negligent entrustment lawsuits. It’s a $2 billion industry problem. To date, there hasn’t been a reliable, cost-effective and driver-friendly solution to warrant a command in the market. Others have tried to solve the problem using hardware or phone sensors, but have failed due to battery-drain, false triggers and high costs that range from $5 to $13 per driver per month.
What The Company Does
Live Undistracted’s patent-pending PhoneSafe blanks the phone screen when the truck is taken out of park, using a combination of software, in-truck telematics and read-only iBeacon technology. The costs is $0.50 per driver per month.
The Market
With a global commercial vehicles market of 157 million, and charging $0.50 per driver per month, there is a $940 million market opportunity. Similar solutions such LiveSafer, Truce Software and SafeRide have issues such as draining battery, reliability and costs. In-cab camera solutions and monitors are potential competitors as well, but are expensive and don’t prevent distracted driving. The top five telematics providers have over 5 million users.
Business Model
Live Undistracted plans to partner with telematics providers; sell directly to telematics VAR’s for $0.50 per driver per month and support VAR’s in promoting to fleet companies.
Traction
The company successfully piloted its MVP in March, resulting in a purchase order for over 200 vehicles and investments from both the president and COO of that company. The largest telematics provider, Geotab, which has 1.6 million users, is committed to supporting Live Undistracted’s solution in Q1 of 2020. Multiple VAR’s and fleet companies are waiting to pilot the solution, and the company has a partnership with OEM DD, an electronics components manufacturer, to sell to the off-road market at places like construction sites.
Founding Team Background
Founder and CEO Damien Moroney has 20 years of executive experience with technology startups and enterprises. Co-Founder and CTO Steve Owens has more than 20 years of experience as a technology executive with four exits. Co-Founder Mike Maguire is a fleet industry executive.
What They Need Help With
The company is in growth mode and is looking for introductions to angel and individual investors. It is also looking for introductions to companies with commercial vehicles. Connect with the Live Undistracted Team.
Text wrote by Bram Berkowitz @Medium
