Seneca backed tech firm wejo launches Manchester office

Seneca backed tech firm wejo launches Manchester office

The new 10,000 sq ft office covering two floors in Manchester’s Enterprise City will accommodate 70 of wejo’s nearly 200 employees globally.

A north west tech company backed by US giant General Motors is set to create 100 jobs over the next 12 months after launching a new office in Manchester city centre.

Headquartered in Chester, wejo has decided to launch a sizeable operation in Manchester as it aims to tap into the city’s tech talent and international links via Manchester Airport.

The ‘connected car’ firm has grown rapidly since its launch by founder Richard Barlow in 2014 with four offices across the UK and US and plans to launch in Paris and Hamburg this year followed by expansion into the Asia Pacific region in 2020.

Its technology allows car manufacturers to sell data generated by their vehicles to insurers and transport authorities.

Last year wejo struck a landmark deal that included a $25m (£19.4m) cash injection from GM alongside a long-term data-sharing agreement between the two companies.

wejo organises historical and real-time vehicle data and, to date, has curated over 140 billion miles of data providing insights on traffic and driving trends.

The company is focused on significantly improving the road experience of drivers, owners and riders and expects to have 17 million cars on its platform by the end of the year.

Mr Barlow said: “This new office is a hugely exciting milestone and it highlights the growth and impact we have created over the last five years.

“Being my home town, Manchester is particularly dear to me, and I’m especially proud to be part of its growing recognition as a centre of excellence for technology. We are committed to the North West and wejo is making it a global leader in connected vehicle technology.”

wejo was advised by commercial real estate consultancy OBI Property on the acquisition and design of the new office space and it is leasing the space from property developer Allied London.

For full article: click here

Important information

This information is of a general nature and does not constitute an offer to provide services.

The opinions and conclusions given here are those of Seneca Partners and are subject to change without notice.

The value of investments and/or any income arising from them may fluctuate.

Past performance is not necessarily a guide to future performance.

Important notice

The products and services shown on this website place capital at risk. Investors may receive less in returns than they have invested. Investments may not allow for capital to be withdrawn on demand. If an investment provides tax relief then this relief is subject to change and is dependant on personal circumstances. Any reference to past performance or forecasted performance is not a reliable indicator of future performance.

Seneca Partners recommends that any investor seeks specialised financial and/or tax advice before investing. Seneca Partners does not provide advice and the information on this website, including but not limited to news, should not be construed as such.

Please confirm that you understand this warning and wish to proceed.