CarData Consultants, an Oakville, Ontario, Canada-based provider of vehicle reimbursement software, secured a growth investment from Spruce Grove Capital.
The amount of the deal was not disclosed.
The company intends to use the funds to accelerate its continued expansion within the corporate vehicle reimbursement market throughout North America.
Founded in 1999 by John Domsy, CarData provides a suite of SaaS solutions which feature a fully managed IRS compliant reimbursement program through a database, premium service, and technology consisting of mobile mileage tracking and a comprehensive reimbursement calculator.
The company’s plans are non-taxable, geographically sensitive, and offer savings for companies moving from company cars, cents per mile, or flat taxable plans. Plans offer outsourced or in-house administration tailored to each business’s needs.