Operations

DriveCam Secures $18 Million in Financing

Posted on July 6, 2005 by LCT Staff - Also by this author - About the author

SAN DIEGO, CALIF. – DriveCam, Inc., a leader in knowledge- based systems that improve driving behavior, announced it has secured $18 million in Series B financing. Menlo Ventures, a Silicon Valley investment firm, invested $10.7 million; JMI Equity, a San Diego private equity firm, participated with a $7 million investment; DriveCam management also contributed. The funds will be used to accelerate growth in markets, products, people and infrastructure to capitalize on growing demand for its driver behavior modification systems.

“DriveCam has a compelling story for anyone responsible for a fleet of vehicles. The company has proven that consistent driver feedback is the answer to lowering operating costs and improving safety,” said Doug Carlisle, a managing director of Menlo Ventures. “It is an inexpensive way to dramatically reduce accidents, providing both a societal benefit and a return on investment. This funding will give DriveCam the capital to expand worldwide.”

The DriveCam system is used by thousands of commercial vehicles, including those in public transit, service fleets, limousines, school buses, parking shuttles, ambulances, utility fleets and taxis. Customers include ATC, Laidlaw, Time Warner, Ampco System Parking, Staples and others.

View comments or post a comment on this story. (0 Comments)

More News

Dawson Rutter's Company Named Best Car Service

Commonwealth Worldwide earns the Boston ranking for the seventh time as it marks 35 years of chauffeured service.

Family Business Becomes Millennial’s Passion

eNews Exclusive: Fast 40 operator Nick Boccio got his start in a garage and has since taken up a desire to continue his grandfather’s legacy.

Luxury Vs. Affluent Travelers: What's The Difference?

Luxury spenders are more driven by experiential and authentic experiences.

Company Aims To Reach Peak Operating Performance

eNews Exclusive: Abdou and Hillary Louarti believe industry involvement and education help them stand out in a crowded market.

Uber Is Imploding, But Does Anyone Really Care?

The TNC may be a cesspool of sexism and harassment, but efficiency tends to trump corporate intrigue.

See More News

Facebook Comments ()

Comments (0)

Post a Comment

Submit

Blog

See More

LCT Store

LCT Magazine - June/Fact Book 2017 $12.95 * Facts & Stats * Directors & Guides *



Connect

Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close