Provides capital to extend industry-leading solutions for fleet safety, fuel efficiency and productivity
San Diego, California – June 18, 2012 – SmartDrive Systems, a market leader in driving intelligence solutions that improve safety, reduce collisions and improve fuel efficiency, announced it has secured $47 million in additional venture funding. Led by existing investors Oak Investment Partners and New Enterprise Associates, as well as new investor Stanford University, the new round of financing will accelerate customer adoption, channel partnerships and the company’s industry-leading research and development.
About SmartDrive Systems
SmartDrive Systems, the recipient of Frost & Sullivan’s Customer Value Leadership Award for Video Safety Solutions, gives fleets and drivers unprecedented driving performance insight and analysis, helping save fuel, expenses and lives. Its video analysis, predictive analytics and personalized performance program help fleets improve driving skills, lower operating costs and deliver significant ROI. With an easy-to-use managed service, fleets and drivers can access and self-manage driving performance anytime, anywhere. The Company, which is ranked as one of the fastest growing companies by Deloitte’s Technology Fast 500™, has compiled the world’s largest storehouse of more than 140 million analyzed risky-driving events. SmartDrive Systems is based in San Diego, Calif., and employs over 500 people worldwide.
For more information on SmartDrive Systems, please visit www.smartdrive.net.
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