SmartDrive Systems, Inc., a San Diego, Calif.-based video-based safety telematics and transportation intelligence platform, secured $90m in financing.
The round was led by TPG Sixth Street Partners with participation from existing investors NewView Capital, Oak Investment Partners, WABCO, and Michelin.
The company intends to use the funds to accelerate continued innovation in areas such as computer vision and AI, while also enhancing sales and marketing initiatives and further international expansion.
Established in 2005 and led by Steve Mitgang, CEO, SmartDrive providea video-based safety telematics solutions that capture vast amounts of data across vehicle systems to provide critical context and insights to commercial fleet operators, leading to improved driver performance, safety and compliance. Its advanced data-driven safety programs can be tailored to address the needs of a wide range of fleets, delivering lower collision and fuel costs, resulting in a compelling value proposition and clear ROI.
SmartDrive employs over 725 people worldwide.