DriveCam funding for strategic acquisition

To continue funding rapid growth and market expansion, DriveCam has entered into a definitive agreement to raise US$85 million in investment capital from Welsh, Carson, Anderson & Stowe XI, (WCAS), a New York-based private equity firm.
March 23, 2012 Read time: 1 min
To continue funding rapid growth and market expansion, 4232 DriveCam has entered into a definitive agreement to raise US$85 million in investment capital from Welsh, Carson, Anderson & Stowe XI, (WCAS), a New York-based private equity firm. The investment is being made, in part, to fund the acquisition of Rair Technologies, a provider of regulatory compliance solutions for DOT-regulated fleets. Rair allows fleet operators to efficiently manage hours-of-service logs, CSA safety scores, driver qualification and vehicle inspection requirements. The company provides web-based safety and compliance services to many top fleets in trucking, distribution and transit, including 50 per cent of the ‘Top 100’ carriers in the US and Canada.

“With this investment, DriveCam will continue to accelerate its growth by expanding into new market segments and broadening its value proposition through strategic partnerships and targeted acquisitions, the first of which is Rair,” said DriveCam CEO Brandon Nixon.
Location Based Systems

For more information on companies in this article

Related Content

  • Flexible, demand-based parking charges ease parking problems
    April 10, 2012
    Innovative parking initiatives on the US Pacific Coast. David Crawford reviews. Californian cities are leading the way in trialling new solutions to their endemic parking problems. According to Donald Shoup, a professor of urban planning at the University of California in Los Angeles, drivers looking for available spots can cause up to 74% of traffic congestion in downtown areas. One solution is variable, demand-responsive pricing of parking.
    Read More
  • Flexible, demand-based parking charges ease parking problems
    April 10, 2012
    Innovative parking initiatives on the US Pacific Coast. David Crawford reviews. Californian cities are leading the way in trialling new solutions to their endemic parking problems. According to Donald Shoup, a professor of urban planning at the University of California in Los Angeles, drivers looking for available spots can cause up to 74% of traffic congestion in downtown areas. One solution is variable, demand-responsive pricing of parking.
    Read More
  • Move NY Legislation introduced
    March 29, 2016
    A coalition of New York State Assembly Members has unveiled legislation that they say will not only fund Metropolitan Transportation Authority (MTA) capital needs but will create a US$4.5 billion Transit Gap Investment Fund (TGIF) to expand public transit and improve accessibility for millions of New Yorkers, particularly those who live in so-called ‘transit deserts’. Introduced by Assembly Member Robert J. Rodriguez, chair of the subcommittee on infrastructure, and joined by 14 co-sponsors from across t
    Read More
  • Geotab telematics solution surpasses one million subscribers
    February 27, 2018
    Canada-based Telematics provider Geotab has reached its goal of achieving one million connected vehicles built on a single platform with an average of 116% annual subscriber growth over the last ten years. The increase, according to Neil Cawse, CEO at Geotab, now supports over 21, 000 business, 300, 000 users and 1, 000, 000 vehicles globally by focusing on sustainability, scalability, reliability and security. The company focuses on enabling business growth with access to data from vehicles that help
    Read More

Highlighted Content