Lytx Receives Private Equity Investment
Summary
The firms are joining control shareholder GTCR as investors in the company.The transaction establishes an enterprise value in excess of $1.5 billion for Lytx and raises over $700m in capital.The company intends to use the funds to continue to expand operations and its business reach.Led by Chairman and CEO Brandon Nixon, Lytx provides a video services program that delivers a configurable user interface to give fleet managers visibility into their fleet operations, both in the moment and up to a week later.The company serves more than 3,000 commercial and government fleet clients.
Funding
Amount
$700.0M
Total raised
Date
April 6, 2018
Announcement date
Investors
Lytx, Clearlake Capital
Lead investors
Company
http://www.lytx.com
Funded company
Classifications
industries
Environment
applications
Web and Content Management
AskAI Classifications
Labels
Video Telematics Software
Fleet Management Software
AI-Powered Software Solutions
Linked Companies
Lytx Inc.
$50M to $100M