SaaS driver behavior and fleet performance service provider GreenRoad Technologieshas raised $26 million. The investment round was led by Israel Growth Partners with participation from existing investors Amadeus Capital Partners, Benchmark Capital, DAG Ventures, Generation Investment Management and Virgin Green Fund. IGP general partner Haim Shani has joined the GreenRoad board of directors.
GreenRoad provides fleet businesses a single, comprehensive solution for changing driver behavior and managing fleet performance. The company's platform helps fleet operators improve driving safety, increase fuel economy, lower insurance premiums, and reduce accident-related costs. GreenRoad’s advanced business intelligence and performance analytics enable fleets to optimize daily and strategic operations.
Headquartered in California, the company has an R&D center in Israel and an office in London.
GreenRoad CEO Zeev Braude said, "The telematics space is changing rapidly, creating huge opportunities. Fleet executives realize that safer driving is a key to lowering operating costs, reducing environmental impact, and improving customer service provided by their mobile resources. When choosing a telematics solution, they regard the ability to create sustainable change in driver behavior as essential. Our product offering and technology are well positioned to meet market demand for solutions that address driver behavior together with traditional telematics and industry-specific requirements. We provide intelligent in-vehicle technology and an advanced, yet simple-to-use cloud platform that allows our customers to benefit from unprecedented return on their investment."
GreenRoad will utilize the proceeds to expand its sales and marketing resources and activity in the US and EMEA. The company also plans to enhance its driver behavior technology to capture opportunities arising from next generation mobility models, new ADAS and connected fleet technologies.
Shani said: "With its proven technology and industry partnerships, GreenRoad has repeatedly delivered unparalleled benefits to its impressive customer base."
Published by Globes [online], Israel business news - www.globes-online.com - on March 25, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015