SmartDrive Systems, a San Diego, CA-based provider of innovative solutions that make it easy for fleet managers to improve driver safety and reduce operating cost, announced it has secured $25m in additional venture funding.
The investment was led by existing investors Oak Investment Partners of Palo Alto, CA, and New Enterprise Associates of Menlo Park, CA.
The new funds will provide the company with working capital to continue to build out its suite of services and to expand its customer base.
Dave Vucina was named as Chairman of the Board. Mr. Vucina was most recently the CEO of Wayport Inc., a venture backed wireless company recently acquired by AT&T, and is currently a member of the Board of Directors of ooVoo, a video teleconferencing company based in New York City. He also serves on the advisory Board of Silver Creek Venture Fund, based in Dallas, and RigNet, a provider of sophisticated communication services for oil rigs globally, headquartered in Houston.
SmartDrive Systems employs approximately 300 people worldwide.