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

  • Diversity dominates ITS recruitment workshop
    October 27, 2016
    ITS offers more interesting and engaging careers than other engineering disciplines because it is less component-based and gives more importance to human factors and the integration of other domains. So says the report from a multinational recruitment stakeholder workshop staged by ITS(UK) at the 2016 ITS in Europe Congress.
    Read More
  • Funding shortfall for US Interstate upgrades
    May 11, 2012
    Andrew Bardin Williams investigates tolling on the federal Interstate system as maintenance and upgrade requirements increasingly outpace funding The I-95 corridor through North Carolina is one of the most heavy trafficked interstates in the US, seeing upwards of 46,000 vehicles per day in some stretches-and North Carolina’s Department of Transportation (NCDOT) estimates this number will to rise to 98,000 vehicles per day by 2040. Along with the rest of the federal interstate system, the North Carolina str
    Read More
  • Personal Rapid Transit, clear benefits for European cities
    July 26, 2012
    David Crawford watches the race to get the world's first PRT system up and running. To paraphrase the old joke about buses bunching, you seem to have to wait several decades for a Personal Rapid Transit (PRT) system, and then half a dozen come along together. Currently, in fact, there are well over that number of schemes for driverless electric passenger-carrying 'pod' networks at various stages of planning, design and implementation around the world. Locations range from a straight-off-the-drawing board ne
    Read More
  • ITSWC 2021: New solutions for the new normal
    September 20, 2021
    October’s ITS World Congress in Hamburg will profile the changing face of mobility, with real-world examples of electric vehicle implementation, shared transport and autonomy taking centre stage
    Read More

Highlighted Content