San Diego-based SVR Tracking LLC, via its parent mobile asset management company Positioning Universal, raised an undisclosed funding.
The round was led by ET Capital Partners of New York City, with additional support by other US-based venture capital firms,
The company intends to use the funds to accelerate the development of innovative features for their application and to expand the business to additional markets.
Led by Mark Wells, President and CEO, SVR Tracking focuses on risk mitigation for dealers and banks that offer financing to customers purchasing a pre-owned car. The company provides the networks, applications, and devices so their customers are able to manage and recover their financed vehicles as a streamlined part of their operations.