GreenRoad raises $15M for safe driving technology
Summary
GreenRoad, maker of equipment and software that reinforces safe driving habits, has brought in $15 million in a fourth round of funding to build its customer base and attract partnerships with technology and insurance companies. Based in Redwood Shores, Calif., the company makes a device that you place in a car. It monitors 120 factors like speed, acceleration, braking and merging to identify risky driving behavior. Because the device beams driving data back to a central web database, fleet managers can easily view which of their drivers are safest and most efficient. GreenRoad claims that this system can reduce fuel costs by 10 percent and car accidents by up to half, according to VentureWire.
Funding
Amount
$15.0M
Total raised
Date
May 28, 2009
Announcement date
Investors
Amadeus Capital Partners, Balderton, Benchmark, DAG Ventures, Virgin Green Fund
Lead investors
Company
http://www.greenroad.com
Funded company
Classifications
industries
Telecommunications
applications
Transportation, Logistics & Inventory
AskAI Classifications
Labels
Fleet Management Software
Telematics Software
Driver Behavior Management
Linked Companies
GreenRoad
$1M to $5M