GreenRoad, a San Jose, Ca.-based driver behavior and fleet performance service provider, raised $26m in growth capital.
The 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. In conjunction with the funding, IGP General Partner Haim Shani joined GreenRoad’s Board of Directors.
The company intends to use the new capital to expand its sales and marketing resources and activity in the US and EMEA as well as to enhance its driver behavior technology.
Led by Zeev Braude, CEO, GreenRoad provides fleet businesses a with a SAaS-based solution for changing driver behavior and managing fleet performance. The platform allows fleet operators to improve driving safety, increase fuel economy, lower insurance premiums, and reduce accident-related costs. A business intelligence and performance analytics enable fleets to optimize daily and strategic operations.
The company has offices in the US, UK and Israel.