Includes full participation by existing investors Menlo Ventures, JMI Equity, Insight Venture Partners and Integral Capital Partners
DriveCam, a Driver Risk Management (DRM) company, has announced that it has secured $19 million in Series D capital financing.
The financing, led by new investor Triangle Peak Partners, includes full participation by existing investors Menlo Ventures, JMI Equity, Insight Venture Partners and Integral Capital Partners.
This comes at the heels of a breakout year for DriveCam, marked by year-over-year revenue growth, an 85% increase in the size of its client base, and positive cash flow for the first time in the company’s history.
Brandon Nixon, CEO of DriveCam, said: “It’s exciting to be recognized by leaders in the investment community for our hard work and success. Despite overall economic conditions, the first half of 2009 has been exhilarating. We will use the investment capital to accelerate our growth and continue to invest in innovative technology and solutions that bring value to our clients.”