Lytx, a San Diego, CA-based provider of video telematics solutions, received an investment from Clearlake Capital Group, HarbourVest Partners, Public Sector Pension Investment Board and Guggenheim Investments.
The amount of the deal was not disclosed.
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.