Lytx develops video-driven telematics products used by driving fleets to monitor driving habits and collect driving data. The company’s technology is positioned around driver safety systems and fleet video telematics. In April 2018 Lytx raised a $700M funding round from a group of private equity investors. The funding gives Lytx an enterprise value in excess of $1.5 billion. Investors in the round included Clearlake Capital Group, HarbourVest Partners, Public Sector Pension Investment Board (PSP Investments), Guggenheim Investments and existing shareholder GTCR. Lytx said it was advised on the transaction by Rothschild & Co. and Kirkland & Ellis. Brandon Nixon remains chairman and CEO of the company. DriveCam, Inc. is a global driver risk management company based in San Diego, California. Its solution combines data and video analytics with real-time driver feedback and coaching to address causes of poor driving. DriveCam’s product is designed to prevent collisions and reduce fuel costs by improving how people drive. The company and Volvo Group have joined forces to deliver safety-centric solutions to the global commercial vehicle industry and pursue a shared goal of reducing accidents toward zero. The strategic investment from Volvo Group aims to support collaborative development efforts between the two companies. The article does not disclose DriveCam’s revenue or user metrics. DriveCam provides a video-based driver safety and risk management SaaS platform that combines data and video analytics with real-time driver feedback and coaching. Its solution aims to prevent collisions and reduce fuel costs by addressing causes of poor driving. The company reports deployment in over 170,000 commercial vehicles and says it has monitored and analyzed more than 4 billion driving miles, maintaining what it calls the world’s largest database of risky driving. DriveCam states it has achieved strong profitability, significant year-over-year growth and continues to win multi-year orders from new and existing clients. The company plans to expand into new market segments, broaden its value proposition through strategic partnerships and pursue targeted acquisitions, beginning with the announced purchase of RAIR. DriveCam will use the new investment to fund aggressive growth initiatives and the RAIR acquisition. DriveCam offers a behavior-based driver risk mitigation solution that uses sight and sound, expert analysis and driver coaching to predict and prevent risky driving behaviors likely to result in collisions. The company’s core product couples video and audio capture with expert review and coaching to change driver behavior and reduce incidents. DriveCam has developed deep industry expertise across a wide range of fleets, including transit; utilities and energy; trucking and distribution; solid waste; concrete and construction; telecom; residential and commercial services; and government and municipalities. The company received a $4M term loan from Leader Ventures. Leader Ventures is described as an investment firm offering blended debt and equity financing. CEO Brandon Nixon said the funding will help DriveCam continue to grow and help clients realize a 50% or greater reduction in costs associated with risky driving while improving road safety.

Total raised

$789M

Funding rounds

4

Latest round

Equity

Latest activity

Apr 2018