DriveCam, a San Diego, CA-based provider of driver risk management solutions, has received a $4m term loan from Leader Ventures, an investment firm offering blended debt and equity financing.
By combining sight and sound, expert analysis and driver coaching, DriveCam provides a behavior-based risk mitigation solution that predicts and prevents risky driving behaviors likely to result in collisions.
The company has developed deep industry expertise across a variety of fleets, including transit, utilities and energy, trucking and distribution, solid waste, concrete and construction, telecom, residential and commercial services, and government and municipalities.
Commenting on the transaction, Brandon Nixon, CEO of DriveCam, was reported as saying: “We enthusiastically welcome the support from Leader Ventures so DriveCam can continue to grow and help our clients realize a 50% or greater reduction in costs associated with risky driving and ensure road safety everywhere”.
FinSMEs
02/12/2009